Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Ofgem completed its cost assessment for the Race Bank offshore transmission assets and set the Final Transfer Value at £472.46 million, equal to the assessed economic and efficient costs of developing and constructing the assets. This Final Transfer Value, to be paid by the incoming OFTO to the developer, will be reflected in the regulated revenue stream defined in the offshore electricity transmission licence granted for the Race Bank OFTO.