Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 12 November 2024, Ofgem published its decision 'Initial Project Assessment for the Offshore Hybrid Asset Pilot Projects', approving Nautilus to Belgium and LionLink to the Netherlands for a Pilot Offshore Hybrid Asset regulatory regime in principle. This follows its minded-to consultations and confirms the regulatory revenue framework (cap and floor) subject to conditions, securing the main revenue regime for Nautilus.