Determination of a further Within Period Adjustment request made by National Grid IFA2
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Ofgem’s cap and floor regime sets a yearly maximum (cap) and minimum (floor) level for the revenues that the interconnector licensee can earn over a 25-year period. Usually, revenues generated by the interconnector are compared against the cap and floor levels over five-year assessment periods. Top-up payments are made to the interconnector licensee if revenues are lower than the floor; and similarly, the licensee pays revenues in excess of the cap to consumers. A Within Period Adjustment (WPA) may be requested by a licensee, enabling payments to be made before the end of the five-year assessment period.
This publication details our determination of the WPA requested by National Grid IFA 2 Limited (NGIFA2) with respect to the IFA2 Interconnector. The Relevant Partial Assessment Period for this WPA request is 1 April 2022 to 31 March 2023.
Main document
[Determination of a further Within Period Adjustment request made by National Grid IFA2 [PDF, 98.40KB]
](https://www.ofgem.gov.uk/sites/default/files/2023-01/IFA2_WPA_determination_January_2023.pdf)
Subsidiary documents
[Appendix 1 - Direction to approve a within period adjustment of NGIFA2's interconnector revenue [PDF, 114.54KB]