Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Ofgem issued its final decision on funding arrangements for the Western HVDC Link on 27 July 2012, confirming the project would be funded under the Transmission Investment Incentives (TII) framework and then under RIIO-T1 with specific re-opener provisions. The decision set out the Authority's approach to ex-ante funding allowances, risk-sharing and deliverables for the HVDC cable and converter stations, thereby formalising regulatory funding arrangements that enabled cost recovery for the transmission owners' construction works.