Post Construction Review of the Viking Link interconnector to Denmark

Post Construction Review of the Viking Link interconnector to Denmark | Ofgem Please enable JavaScript in your web browser to get the best experience. BETA This site is currently in BETA. Help us improve by giving us your feedback . Close alert: Post Construction Review of the Viking Link interconnector to Denmark Publication type: Consultation Publication date: 8 November 2024 Closed date: 19 December 2024 Status: Closed (with decision) Topic: Electricity interconnectors Related consultations: Statutory consultation on a proposal to insert new special conditions into the electricity interconnector licence held by National Grid Viking Link Limited (NGVL) Decision: Post Construction Review of the Viking Link Interconnector to Denmark: decision Print this page Related links https://www.ofgem.gov.uk/decision/decision-final-project-assessment-viking-link-interconnector-denmark Share the page Share on Facebook Share on Twitter Share on LinkedIn Viking Link is an interconnector project regulated under our cap and floor regime. Viking Link commenced commercial operations on 29 December 2023. We granted National Grid Viking Link (NGVL) a cap and floor regime with respect to the Viking Link interconnector project in July 2015 and set the preliminary cap and floor levels in September 2020 after our assessment of the Final Project Assessment (FPA). The Viking Link project has reached the final assessment stage of the regime, the Post Construction Review (PCR), where we determine the value of the Post Construction Adjustment (PCA) terms and set the final cap and floor levels for the project. At this stage, we revisit aspects of our cost assessment that were not fixed at previous stages, and assess the efficiency of responses to events that have materialised during construction. We then determine the value of the PCA terms, which adjust the preliminary cap and floor levels to take into account our final view of the project’s costs. About this consultation This consultation sets out our minded-to position on NGVL’s PCR, in particular our views on the proposed values for the PCA terms submitted by NGVL and proposed final cap and floor levels for the project. Alongside our consultation on the NGVL PCR, we are also consulting on related changes to the special conditions of NGVL’s interconnector licence. We are also seeking views on updated Cap and Floor Financial Models 1 and 2 and associated handbooks for NGVL. This consultation will close on 18 December 2024. Subject to stakeholder responses, we aim to make our final decision on NGVL’s PCR and on the other elements outlined above in March 2024. Respond name Jade Li and Andrew Martin Respond email Cap.Floor@ofgem.gov.uk Main document Post construction review of the Viking Link interconnector to Denmark [PDF, 616.71KB] Subsidiary documents Appendix 3 - notice of statutory consultation on proposed changes to NGVL's licence [PDF, 123.38KB] Schedule 3A - proposed changes to NGVL's licence [PDF, 530.26KB] Schedule 3B - reasons and effects of proposed changes to NGVL's licence [PDF, 64.74KB] Appendix 4 - VLCFFM1 [XLSM, 252.64KB] Schedule 4A - handbook for VLCFFM1 [PDF, 474.42KB] Appendix 5 - VLCFFM2 [XLSM, 248.91KB] Schedule 5A - handbook for VLCFFM2 [PDF, 476.18KB] Response documents National Grid Interconnector Holdings (NGIH) consultation response [PDF, 203.01KB] Print this page Related links https://www.ofgem.gov.uk/decision/decision-final-project-assessment-viking-link-interconnector-denmark Share the page Share on Facebook Share on Twitter Share on LinkedIn Close