Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Ofgem granted the LirIC Interconnector Project an in‑principle cap and floor arrangement in Great Britain. This regulated revenue framework sets a minimum return (floor) and caps potential upside (cap) over a 25‑year period, providing the project’s developer, TI LirIC Limited, with greater revenue certainty for the planned 700 MW HVDC interconnector between Northern Ireland and Scotland. The arrangement is described as recently awarded in project procurement documentation and industry press and forms part of the project’s commercial framework alongside its Northern Ireland transmission licence.