Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 12 November 2024, Ofgem announced its minded‑to decision to award Cap & Floor regulation to the 750 MW MaresConnect interconnector as part of the Initial Project Assessment of its third Cap & Floor application window, effectively approving the project’s regulated revenue regime in Great Britain. Industry reports the same day described Ofgem as having approved five new undersea energy connectors including MaresConnect, confirming it as one of the interconnectors that will provide additional cross‑border capacity for GB.