London, 21 December 2017

Statement on the referral of AQUIND’s exemption application to ACER

AQUIND’s exemption application has been referred for decision to the Agency for the Cooperation of Energy Regulators (ACER), as notified by the French energy regulator CRE and the UK energy regulator Ofgem.

AQUIND is a private project which is being developed without government subsidies. Once operational, AQUIND Interconnector will bring considerable benefits to the UK, French and European power girds. It will help boost energy price competition, improve security of supply and foster greater integration of renewable power sources in France and the UK.

At the request of the energy regulators, AQUIND has modelled a number of scenarios reflecting the potential impact Brexit could have on the cross-border energy market. The AQUIND Interconnector benefits remain strong for both countries under any scenario.

AQUIND’s own analysis is supported by the decision of the European Commission to include AQUIND in the third Projects of Common Interest list featuring key infrastructure projects that bring pan-European benefits to the European energy market.

AQUIND will continue working closely with CRE and Ofgem as well as ACER and the European Commission to achieve a positive and timely decision on AQUIND’s exemption application.

Meanwhile, the AQUIND planning and engineering activities are proceeding as planned. Engagement with the supply chain for converter stations and cables is ongoing with the intention of starting a formal tendering process in 2018.

AQUIND would like to thank teams at both CRE and Ofgem for constructive engagement during this process and looks forward to further cooperation at the next stages of the project development.