Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
On 25 February 2022, Ofgem issued the formal Indicative Transfer Value (ITV) letter for the Hornsea Project Two transmission assets, updating the estimated transfer value to £1,189.5 million. This revised ITV, calculated from a June 2021 cost assessment template and additional analysis including forensic review by Grant Thornton, replaced the Initial Transfer Value for use in Invitation to Tender documentation and informed bidders’ Tender Revenue Stream proposals for the Hornsea 2 OFTO.