Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
Ofgem published a consultation document setting out a minded‑to position on National Grid/SSEN Transmission's EGL3 Early Construction Funding (ECF) application. The regulator said the EGL3 joint venture's ECF request fell within the ASTI ECF allowance and indicated a minded‑to approval of ECF equal to 8% of the project's updated forecast cost. Ofgem also set out its position on Pre‑Construction Funding (PCF), noting the TOs had requested a higher PCF (around 3.5%) but proposing to set initial allowances at the ASTI default of 2.5% pending further assessment. The document explained the funding purpose: early procurement, strategic land purchases, surveys, design and procurement commitments to derisk delivery and secure long‑lead HVDC components.