Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Ofgem issued its final Project Assessment decision for Eastern Green Link 1 on 14–15 November 2024, approving regulatory funding allowances under the ASTI framework. Ofgem set a total funding allowance of £2,001,104,429 (2018/19 prices) for delivery of EGL1, comprising £1,657,441,102 for direct construction costs and £343,663,327 for indirect costs and risk, and established a 1% COAE materiality threshold and new reopener arrangements. The decision provided the JV with an agreed regulatory funding envelope to progress construction and allowed routes for further funding of specific uncertain costs.