Joint Position of Ofgem and ACM on BritNed Development Limited’s 10-Year Review Report

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This document sets out the joint position of Ofgem and the Netherlands Authority for Consumers & Markets (ACM) on BritNed Development Limited’s 10-year review of revenues for the BritNed interconnector, which was submitted in accordance with their amended exemption decision.

It is our position that:

• BritNed’s 10-year report submission satisfies the condition set out in the exemption decision; and
• the forecast whole-project internal rate of return lies below the cap requested by the European Commission in their amendment to the exemption for the interconnector project.

Main document

[Cover letter for Ofgem and ACM's joint position on BritNed's 10-year review.pdf [PDF, 88.97KB]

](https://www.ofgem.gov.uk/sites/default/files/2021-11/Cover%20letter%20for%20Ofgem%20and%20ACM%27s%20joint%20position%20on%20BritNed%27s%2010-year%20review_0.pdf)

Subsidiary documents

[Ofgem ACM joint position.pdf [PDF, 673.52KB]

](https://www.ofgem.gov.uk/sites/default/files/2021-11/Ofgem%20ACM%20joint%20position_0.pdf)

[10 year review financial report [PDF, 375.34KB]

](https://www.ofgem.gov.uk/sites/default/files/2021-11/10%20year%20review%20financial%20report%20FINAL%20for%20publication%20_0.pdf)

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