Regulation
MaresConnect is included in ENTSO-E’s Ten-Year Development Plan, recognising the project’s key contribution to realising Europe-wide goals related to energy policy and climate change.
Regulatory Support
Great Britain
In Great Britain, MaresConnect is seeking a Cap & Floor regulatory model from Ofgem.
Ofgem granted MaresConnect an interconnector licence on 22 June 2022.
Ireland
In July 2023, Ireland’s Department for the Environment, Climate and Communications (DECC) released its National Policy on electricity interconnection. The policy supports the establishment of additional interconnector capacity between Ireland and Great Britain and requires those projects, with the most realistic prospects of delivery by 2030, to be progressed as soon as possible.
On the basis of the updated National Policy, MaresConnect will make an application to the Commission for Regulation of Utilities for Cap & Floor regulation in Ireland, which has been successfully implemented in Ireland for the Greenlink Interconnector project.
MaresConnect as part of ENTSO-E’s Ten Year Development Development Plan
ENTSO-E’s Ten-year network development plan (TYNDP) serves as the comprehensive plan for infrastructure development in Europe. It connects, facilitates, and complements national grid development plans, providing a holistic view of the future power system. It details how power links and storage could contribute to a cost-effective and secure energy transition. The TYNDP is essential to the timely and effective development of transmission infrastructure to deliver long-term European policy and aspirations.
ENTSO-E’s 2020 report highlights the importance of achieving Europe’s environmental goals
“To achieve zero emissions, the electricity transmission network will be at the centre Europe has engaged on an ambitious path towards decarbonisation. The major change is the rapid replacement of fossil-fuel generation by renewable energy sources. Electrification is the most direct, effective and efficient way of reaching the decarbonisation objectives. This makes the electricity transmission network the backbone of the future energy system.
Europe will only reach its decarbonisation objective and the successful deployment of variable renewables if:
- the costs of transforming the system are kept as low as possible, by an appropriate set of investments enabling better market integration and leading to competitive power prices, and
- the continuous secure access to electricity is guaranteed to all Europeans. Achieving this requires a coordinated, pan-European approach to electricity system planning: the Ten-Year Network Development Plan.”