By Paul Homewood
h/t Joe Public
Another 4 billion down the drain. Still it’s only money, eh!
Ofgem has today confirmed its final approval on the costs associated with delivery of Eastern Green Link 2 (EGL2), enabling construction to start on the 525kV 2GW subsea connection between Peterhead in the north-east of Scotland and Drax on the east coast of England.
The energy regulator’s final decision on the project assessment for the 500km+ high voltage direct current (HVDC) connection is the key final approval in the regulatory process and allows construction to get underway later this year, with the connection due to be operational in 2029.
At a total expected nominal investment of around £4.3bn, it is the single largest-ever investment in electricity transmission infrastructure in Great Britain and one of the most significant, strategic investments in energy infrastructure the country has seen in recent years.