Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 10 July 2012, the Gas and Electricity Markets Authority approved TC Ormonde OFTO Limited’s Statement of Basis of Offshore Transmission Owner Charges, putting into effect the licence-based revenue regime for the Ormonde offshore transmission assets. The statement confirms that all OFTO assets are charged to National Grid Electricity Transmission plc in line with a 20‑year revenue entitlement based on a tendered revenue stream, with initial charging parameters such as the tender revenue stream term (TRSt) set out in the licence.