Fid Financial Close

By mid‑February 2015, Moyle Interconnector Limited reached investment commitment and awarded a contract to Nexans Norway AS for the Moyle Returns project, covering the design, manufacture, testing, supply, installation, jointing and commissioning of replacement subsea metallic return conductors to restore the interconnector’s full capacity and long‑term reliability. The confidential contract price was noted as significantly below the earlier £60 million estimate, with the project to be funded largely from Moyle’s reserves and capacity auction revenues, supplemented by CAIRt use‑of‑system charges, while delivering substantial forecast consumer benefits from lower wholesale electricity prices and improved security of supply.