NSN Development Falls Under UK’s New Regulatory Framework

The planned interconnector between Norway and the UK will fall under UK’s new regulatory framework for electricity interconnectors. This follows from the criteria the British authorities submitted for consultation 23 May.

The UK regulator Ofgem announced 23 May the framework conditions for revenue regulation for international interconnectors. This is an important clarification for the realisation of the NSN interconnector project, a 1400 MW power cable that will run between Norway and the UK. At more than 700 km, it will be the world’s longest subsea cable of this type.

“We are pleased that our project will most likely be among the projects that will fall under this regulation. This gives us an even better foundation for preparing to realise this project,” says Executive Vice President Håkon Borgen in Statnett.

The proposed regulatory framework will secure minimum revenues to the developer while also providing for returning income in excess of a certain level to the consumers. This only affects the British part of the cable, and it is an important factor in ensuring acceptable project risk for Statnett’s British partner, National Grid.

NSN will be developed and owned 50% by Statnett and 50% by the British energy company National Grid. Statnett’s investment cost will be NOK 6-8 billion. The subsea interconnector will have a capacity of 1400 MW, and run between Kvilldal in Rogaland County and Blyth in the UK. The plan calls for an investment decision in 2014, and for the interconnector to come online in 2020.

Press Release, May 27, 2014

Share this article

Follow Subsea World News

Events>

<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Kuwait Oil & Gas Show

Kuwait Oil & Gas Show is the Kuwait International Fair Ground in Kuwait City, Kuwait. This event showcases product from Chemicals & Dyes, Electronics & Electrical Goods, Hand, Machine & Garden Tools, Petroleum, Oil & Gas, Power & Renewable Energy industries. More info

read more >

SPE Offshore Europe 2017

Attending SPE Offshore Europe, recognised by offshore E&P professionals as Europe’s leading E&P exhibition and conference, will ensure…

read more >

Offshore Site Investigation & Geotechnics Committee 8th International Conference “Smarter Solutions for Future Offshore Developments”

The conference series, which has run since 1979, offers a unique opportunity for geotechnical engineers, geoscientists and academics…

read more >

Oil & Gas Indonesia 2017

Oil & Gas Indonesia (OGI) is an exhibition focused on Oil and Gas Exploration, Production and Refining and showcases the largest exhibition…

read more >