Britain, £2bn for undersea cable - New link offers clean energy, reduces gas dependency
British energy regulator Ofgem has approved a £2 billion funding package to build around 200 kilometers of new submarine and underground cables linking Scotland to the north-east of England.
The Eastern Green Link 1 (EGL1) project will reduce Britain's dependence on volatile international gas markets, further harnessing the power of North Sea wind and playing a key role in achieving Britain's clean energy target for in 2030, the regulator said.
Eastern Green Link 1 aims to supply more than two million homes across Britain and Ofgem said it could help consumers save more than £870m on bills each year by reducing the need to compensate British wind generators for due to lack of network capacity.
The project to be built by a consortium formed by Iberdrola's ScottishPower Energy Networks and the National Electricity Transmission Network is currently nearing the end of the development phase and construction is scheduled for 2025. The new link is expected to be operational in 2029 .
Ofgem said the fast-track process will give developers access to some seed funding from the forecast budget so they can secure supply chain commitments.
Of the 196 kilometers of cables, the majority will be under the North Sea and the remaining 20 km will be underground, to connect the system to substations and conversion stations in Scotland and England.
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