DOCSLIB.ORG

Tennet Integrated Annual Report 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Tennet Integrated Annual Report 2018 Integrated Annual Report 2018 TenneT Holding B.V. TenneT Integrated Annual Report 2018 TenneT Holding B.V. Integrated Annual Report 2018 Content At a glance 2018 6 *Governance and risk management 72 Corporate governance 72 Letter from the CEO 8 Risk management and internal control 74 Risk management and internal control framework 77 *About TenneT 11 Compliance and integrity 78 Profile 11 Risk appetite 79 Our mission, strategy and value creation 13 Key risks 80 Our stakeholders 17 Materiality analysis 18 Financial Statements 83 Consolidated financial statements 84 *Our performance in 2018 20 Notes to the consolidated financial statements 91 Strategic performance 20 Company financial statements 140 Secure supply 21 Notes to the company financial statements 142 Lead North West European integration 26 Innovate business 31 Other information 146 Engage stakeholders 38 Profit appropriation 146 Operational performance 42 Independent auditor’s report 147 Financial 42 Assurance report of the independent auditor 153 Non-financial 46 About this report 156 Statements of the Executive Board 55 Reconciliation of non-IFRS financial measures 160 Our Executive Board 56 Summary of stakeholder activities 161 Summary of stakeholder activities 162 Supervisory Board report 58 SWOT Analysis 164 Remuneration policy 64 Company adresses 165 Board remuneration 66 Key figures 166 Our Supervisory Board 70 Glossary 167 * These sections reflect the director’s report as mentioned by Part 9 of Book 2 of the Dutch Civil Code Integrated Annual Report 2018 - TenneT Holding B.V. 3 Looking back at 20 years of achievement 2008 in the European TenneT takes over management of the 110 kV electricity market and 150 kV grids from the Dutch regional grid operators. ‘NorNed’ commissioned as world’s longest HVDC subsea cable (700MW), linking Norwegian and Dutch markets. 1998 TenneT is formed when the Dutch government formally appointed us to operate the country’s national high-voltage 2003 trans mission grid. TenneT takes over the regional network operator B.V. Transportnet Zuid-Holland (TZH). 2006 TenneT starts to bring Europe’s electricity markets together, as cross-border electricity trading and pricing begins for France, Belgium and the Netherlands. Integrated Annual Report 2018 - TenneT Holding B.V. 4 2016 TenneT is legally incorporated as an offshore electricity grid operator in 2010 the Netherlands. We conclude our first contract for subsea cables linking TenneT acquires the 2013 the offshore grid. We also introduce German high-voltage grid our vision for a North Sea Wind Power from E.ON, making TenneT The Randstad 380kV Hub, with the potential to serve wind Europe’s first cross-border Zuidring goes into power to tens of million Europeans TSO. Electricity market operation, supplying by 2050. integration extends to electricity to the densest central-western Europe, urban area in the DolWin2, the most powerful grid including Germany and Netherlands. The connection for offshore wind farms, Austria. project sees goes into operation (900MW). unprecedented lengths BorWin1, the first DC of high-voltage cables offshore platform (400MW) laid underground. goes into operation. 2011 2018 BritNed, a The 57-km 380 kV 1,000MW connection linking subsea electricity Doetinchem in the link between Netherlands with Great Britain and Wesel in Germany the Netherlands was commissioned, 2009 is commissioned. 2014 allowing further BritNed is a development of the Opening of the first joint venture Electricity market north-west European AC grid connection between TenneT integration electricity market. for the offshore wind and National extends to north- farm Alpha Ventus. Grid UK. west Europe, including Great Britain, the Nordics and the Baltics, and 2017 south-west Europe, With 10 out of 13 planned grid connections coupling the Iberian in operation, TenneT provides more than peninsula. 5,300MW transmission capacity in the German North Sea. TenneT opens an office in Berlin. We also opened an office in Brussels. Integrated Annual Report 2018 - TenneT Holding B.V. 5 At a glance 2018 At a glance 2018 99.9988% Grid availability New 738 CEO Stakeholder meetings (public events) Number of employees 3,409 2.3 Investments (EUR billion) 20 years TenneT 14 Outage Interconnectors Tilburg 738 DolWin3 into operation Lost Time Incident Frequency Opening DW 2.36 TenneT Letter from the CEO Letter from the CEO “ Balancing supply and demand with the unpredictable in-flows of wind and solar power requires us to make smarter use of our grid, making us more agile and proactive.” Letter from the CEO Manon van Beek CEO and Chair of the Excecutive Board In 2018, TenneT celebrated 20 years of powering society. As we proudly reflect on two decades of achievements in the European electricity market, we must also look forward. Past performance is no guarantee for the future. The rapidly evolving energy system, driven by political, societal and technological changes, challenges us to think even further ahead with ever-more innovative solutions in order to maintain a secure and stable electricity supply for all. It is TenneT’s core task to design, build, maintain and operate a reliable grid in the Netherlands and Germany, serving as a backbone infrastructure for the energy transition. We anticipate - where possible - on government energy Handover 20 years TenneT policy, such the Dutch Energy Agreement and the recently Thank you to everyone who has welcomed me as the new announced Coal Exit in Germany, and actively engage in CEO of TenneT – a position I was thrilled to officially assume the dialogues on this. With our cross-border base, we make as of 1 September 2018. I have big shoes to fill, taking over every effort to contribute to the development of a North from Mel Kroon who served TenneT with such vision and West European grid. Due to the increasing volumes of skill and dedication for 16 years. Under Mel’s leadership, renewable energy we must innovate and optimise the use of TenneT has developed into one of the leading transmission the existing grid and look beyond our traditional boundaries system operators (TSOs) in Europe. of green electrons - like hydrogen, gas and storage. At the same time, we must not forget that it is in society’s I am keen to build on his heritage and add my 25 years of common interest that the energy transition and the experience and expertise in the European energy and digital CO2 reduction come at an affordable price, without technology sectors. I look forward to collaborating with my the security of supply being jeopardized. This requires new colleagues, our most valuable assets. cooperation and partnerships at all levels, with all stakeholders. Keeping the lights on, now and in the future The substantial expansion and reinforcement of our grid I am excited to take over the baton and lead TenneT, as we demonstrates our crucial role in driving the energy transition. begin the next phase in our journey as one of the drivers, or Our commitment goes beyond what the law or the regulator even accelerators, of the energy transition. expects; we are intrinsically driven to secure the supply Integrated Annual Report 2018 - TenneT Holding B.V. 8 Letter from the CEO of electricity, 24/7, to end users in an affordable way. We Investment Bank (EIB) invested in a EUR 100 million embrace this responsibility, as we see the energy transition hybrid bond, issued by TenneT to support the construction and the ongoing electrification of society as essential steps of the NordLink Direct Current interconnector between in building a more sustainable future for all. Norway and Germany. In June, TenneT issued another EUR 1.25 billion through its Green Bond programme, The Dutch Agreement on Energy for Sustainable Growth underlining its status as the largest corporate issuer of green (Energieakkoord voor duurzame groei) stipulates that debt in the Netherlands. renewable energy sources must account for at least 16% of the overall Dutch electricity supply by 2023. It also states In addition, we are in a constructive dialogue with the Dutch that by 2023, 3.5 gigawatt of new wind farm capacity Ministry of Finance, our shareholder, on our future equity must have been realised in three offshore zones: Borssele, capital needs and its role as shareholder. As our debt will Holland Coast (south) and Holland Coast (north). TenneT increase, we need to maintain a balanced equity-debt ratio, has already started to prepare innovative and cost-effective in order to secure our current credit ratings. solutions to connect these new offshore sites to the grid. We welcomed the opportunity to contribute to the Setbacks and dilemmas to address draft Energy Agreement, which represents a substantial, In realising our ambitious project portfolio, we also faced a integrated package aimed at reducing CO2 emissions in the number of setbacks. In October 2018 we had to terminate Netherlands by at least 49% in 2030. the Wintrack II contract with consortium company Heijmans Europoles B.V. (HEP), involving and delaying the Equally ambitious, the German government has committed construction of new high-voltage pylons. A new tender was itself through the Energiewende, to boost the efficiency, started in January 2019, with the aim to start construction modernisation, innovation and digitisation of the energy of the project in the first quarter of 2020. supply. The new German government has raised the bar for the share of renewables, aiming for 65% in 2030, as As well as building for the future, we must also maintain our well as decommissioning all nuclear and coal-fired power existing grid to ensure continuing high reliability. plants. It fully recognises the challenges of transporting wind energy, primarily generated in the north of Germany, over We had to deal with several outages during 2018, including large distances to the end-users in the south. Crucial for a the August power failure in the Tilburg area in the south successful Energiewende therefore, is the expansion of both of the Netherlands, when over 100,000 households and the cross-regional grids and the local distribution grids.
Load more

Recommended publications
  • Gewijzigde Regels Veilingen Lange Termijn Capaciteit Elektriciteit Britned
    Autoriteit Consument & Markt Besluit Openbaar Ons kenmerk: ACM/DE/2015/206451_0V Zaaknummer: 15.0209.27 BESLUIT Besluit van de Autoriteit Consument en Markt op grond van artikel 5, zesde lid, van de Elektriciteitswet 1998. Autoriteit Consument & Markt Besluit Openbaar Inhoudsopgave 1 Inleiding 3 2 Procedure van totstandkoming van dit besluit 5 2.1 Terinzagelegging en zienswijzen 5 2.2 Notificatierichtlijn 5 3 Wettelijk kader 6 4 De voorstellen 7 4.1 Aanleiding voorstellen en gevolgde procedure 7 4.1.1 EU HAR 7 4.1.2 BritNed Access Rules 8 4.2 Toelichting op de voorgestelde wijzigingen 8 4.2.1 EU HAR 8 4.2.2 BritNed Access Rules 13 5 Beoordeling 14 5.1 Reactie op consultatie 14 5.2 EU HAR 15 5.2.1 Datum inwerkingtreding 15 5.2.2 Zekerheden en kredietlimiet 16 5.2.3 Minimumprijs 16 5.2.4 Beperking van transmissierechten 16 5.2.5 Conclusie 17 5.3 BritNed Access Rules 17 5.3.1 Conclusie 17 6 Dictum 18 Autoriteit Consument & Markt Besluit Openbaar 1 Inleiding 1. BritNed Development Limited (hierna: BritNed) is exploitant van een interconnector voor het transport van elektriciteit tussen Nederland en Groot-Brittannie. De minister van Economische Zaken heeft op 27 juni 2007 ontheffing verleend aan BritNed en TenneT TSO B.V. voor de BritNed interconnector. 2. In dit besluit wordt het verzoek van BritNed om goedkeuring van de volgende documenten beoordeeld: 1) de Allocation Rules for Forward Capacity Allocation (hierna: EU HAR); 2) Annex 1 List of Bidding Zone borders and/or their subsets to which the Allocation Rules apply including information on type of allocated Long Term Transmission Rights (hierna: Annex 1); 3) Annex 13 to the Harmonised Allocation Rules Border specific annex: BritNed lnterconnector (hierna: Annex 13); en 4) de gewijzigde BritNed Access Rules.
    [Show full text]
  • Annual Report and Accounts
    2010/11 Annual Report and Accounts 2010/11 Annual Report and Cautionary Statement performance against regulatory targets This document comprises the Annual and standards and against our peers Report and Accounts for the year ending with the aim of delivering stakeholder Accounts 31 March 2011 for National Grid and its expectations regarding costs and subsidiaries. It contains the Directors’ effi ciency savings, including those related Report and Financial Statements, to restructuring and internal transformation together with the Independent Auditor’s projects; and; customers and counterparties Report thereon, as required by the failing to perform their obligations to us National Grid plc Companies Act 2006. The Directors’ and our arrangements with the Long Island Report, comprising pages 10 to 108, Power Authority not being renewed. Other has been drawn up in accordance with factors that could cause actual results the requirements of English law, and to differ materially from those described liability in respect thereof is also governed in this document include fl uctuations by English law. In particular, the liability in exchange rates, interest rates and of the Directors for these reports is solely commodity price indices; restrictions to National Grid. in our borrowing and debt arrangements, funding costs and access to fi nancing; This document also contains certain our effective rate of tax; National Grid’s statements that are neither reported status as a holding company with no fi nancial results nor other historical revenue generating operations of its own; information. These statements are infl ation; seasonal fl uctuations; the future forward-looking statements within the funding requirements of our pension meaning of Section 27A of the Securities schemes and other post-retirement Act of 1933, as amended, and Section benefi t schemes; the loss of key 21E of the Securities Exchange Act of personnel or the ability to attract, train 1934, as amended.
    [Show full text]
  • A Holistic Framework for the Study of Interdependence Between Electricity and Gas Sectors
    November 2015 A holistic framework for the study of interdependence between electricity and gas sectors OIES PAPER: EL 16 Donna Peng Rahmatallah Poudineh The contents of this paper are the authors’ sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2015 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-042-9 A holistic framework for the study of interdependence between electricity and gas sectors i Acknowledgements The authors are thankful to Malcolm Keay, Howard Rogers and Pablo Dueñas for their invaluable comments on the earlier version of this paper. The authors would also like to extend their sincere gratitude to Bassam Fattouh, director of OIES, for his support during this project. A holistic framework for the study of interdependence between electricity and gas sectors ii Contents Acknowledgements .............................................................................................................................. ii Contents ...............................................................................................................................................
    [Show full text]
  • The Political Economy of Energy Transitions
    The Political Economy of Energy Transitions “Case studies of natural gas and offshore wind in the Netherlands and the United Kingdom” Student: Steven Blom (s4261690) Project: Master thesis Public Administration Program: Comparative Public Administration (COMPASS) University: Radboud University, Nijmegen, the Netherlands Faculty: Nijmegen School of Management Thesis supervisor Tutors: Dr. J. (Johan) De Kruijf Prof. dr. S. (Sandra) van Thiel Research assignment Client: Dr.ir. R.P.J.M. (Rob) Raven Position: Professor Institutions and Societal Transitions Department: Innovation studies department of Utrecht University Former position: Industrial Engineering & Innovation Sciences - Eindhoven University of Technology [TU/e] th Date: August 11 , 2015 1 Table of contents Abbreviations & acronyms ..................................................................................................................... 5 Prologue .................................................................................................................................................. 6 1. Introduction ........................................................................................................................................ 7 1.1 Introduction ................................................................................................................................... 7 1.2 Chapter’s structure ........................................................................................................................ 7 1.3 Problem description .....................................................................................................................
    [Show full text]
  • Interconnectors
    Connecting for a smarter future How interconnectors are making energy better for consumers Benefiting customers today Stronger links for and tomorrow a smarter future Interconnectors are making energy more secure, affordable Interconnectors are transmission cables that allow and sustainable for consumers across Great Britain (GB) electricity to flow freely between markets. They are at and Europe. And they are set to deliver much more. the heart of the transition to a smarter energy system. Tomorrow’s energy will be cleaner, more flexible and more responsive to the individual needs of consumers. To efficiently deliver the energy system of tomorrow, European countries are working together to maximise the potential of technologies £3 billion investment like battery storage, wind and solar power. Interconnectors Since 2014, over £3 billion has been invested in 4.4 GW of new enable smarter energy systems to react quickly to changes interconnector capacity, which will more than double the existing in supply and demand, ensuring renewable energy flows capacity between GB and continental Europe by the early 2020s. from where it is being generated in large quantities, to where it is needed most. Consumers benefit from interconnectors because they open the door to cheaper energy sources and Power for 11 million homes help GB build a smarter energy system. 4.4 GW of capacity provides access to enough electricity to power National Grid recognises 11 million homes. While the future relationship between GB and the EU the challenges that remains unclear, we are confident that we will continue Brexit poses. However, to trade electricity across interconnectors. It is in the best interests of all consumers for GB to keep working closely we remain confident 9.5 GW more that trade in electricity There is potential to increase the benefits to consumers through a with the EU to build an energy system that makes the best further 9.5 GW of interconnectors that will help deliver a smarter, more use of all our energy resources.
    [Show full text]
  • Nautilus Interconnector April 2021 I National Grid
    Nautilus Interconnector April 2021 I National Grid Nautilus Interconnector Proposed by National Grid Ventures April 2021 1 National Grid I April 2021 Nautilus Interconnector Nautilus Interconnector April 2021 I National Grid Introducing Nautilus North Sea Link: Interconnector 1.4 GW Under construction Live 2021 GB and Norway At National Grid Ventures (NGV), we are bringing National Grid Ventures (NGV) forward plans for Nautilus, a new interconnector Proposals for Nautilus are being developed by in East Suffolk that could supply enough NGV and our respective joint venture partner in electricity to power around 1.4 million UK Belgium, Elia. Viking Link: 1.4 GW homes. Under construction Nautilus could connect 1.4 gigawatts (GW) of NGV is the competitive division of National Grid. It Live 2023 offshore wind to the transmission systems of Great operates outside of National Grid’s core regulated GB and Denmark Britain and Belgium through a sub-sea electricity businesses in the UK and US where it develops cable called an interconnector. The project would and operates energy projects, technologies and include underground cabling works and onshore partnerships to make energy cleaner, more secure infrastructure, which would be located in East Suffolk. and more affordable for consumers. We are also bringing forward proposals for a second There are three distinct business entities under the BritNed: 1 GW interconnector in East Suffolk, currently known as umbrella of National Grid plc in the UK, as detailed Operational EuroLink. Both projects are early in their respective in the diagram below, all with different roles and Live 2011 feasibility stages, and EuroLink is currently less responsibilities.
    [Show full text]
  • November 2018 Litigation and Dispute Resolution Review
    November 2018 Litigation and Dispute Resolution Review Contents Antitrust 2 First UK follow-on cartel damages ruling BritNed Development Ltd v ABB AB and ABB Ltd Crime 4 Cybercrime – remedies against unknown hackers CMOC Sales & Marketing Ltd v Person Unknown & 30 ors Bank ordered to disclose suspicious activity reports to customer Lonsdale v National Westminster Bank [2018] EWHC 1843 (QB), 18 July 2018 Data Protection 9 Employer vicariously liable for rogue employee’s data breach WM Morrison Supermarkets PLC v Various Claimants Equity 12 Secured creditor has equitable duty to perfect, but not necessarily to protect, security for benefit of a guarantor General Mediterranean Holding SA.SPF (aka General Mediterranean Holding SA) v Qucomhaps Holdings Ltd, William James Harkin (& anr) Privilege 14 In-house counsel emails not privileged Glaxo Wellcome UK Ltd (t/a Allen & Hanburys) & anr v Sandoz Ltd & ors Public law 17 Decisions of a private body acting as a “skilled person” cannot be judicially reviewed R (Holmcroft Properties Ltd) v KPMG LLP & ors Sanctions 19 Amy Edwards Mere risk of exposure to sanctions insufficient for underwriters to avoid liability Litigation – Senior Professional Mamancochet Mining Ltd v Defendants Managing Agency Ltd Support Lawyer – London Sovereign immunity 20 Contact Assets owned by a state-owned enterprise not immune from enforcement Tel +44 20 3088 2243 Botas Petroleum Pipeline Corporation v Tepe Insaat Sanayii AS [email protected] allenovery.com 1 Antitrust FIRST UK FOLLOW-ON CARTEL DAMAGES RULING BritNed Development Ltd v ABB AB and ABB Ltd [2018] EWHC 2616 (Ch), 9 October 2018 The UK High Court ordered Swiss engineering company ABB to pay Anglo-Dutch power-grid joint venture BritNed just over EUR11.5 million in damages in a follow-on action relying on the European Commission’s underground and undersea power cables cartel decision.
    [Show full text]
  • 4Th Regional Initiatives Annual Conference Europe's Energy Policy Objectives and Regional Market Integration
    4th Regional Initiatives Annual Conference Europe’s energy policy objectives and regional market integration – the way forward A joint conference by the European Commission and ERGEG 8 July 2010 First Name Last Name Organisation Country Dafydd Ab Iago Europolitics Europe Joana Abreu Jackson Dods EU Monitoring Europe Kai Adam BDEW - Bundesverband der Energie- und Wasserwirtschaft e.V Germany Ignacio Aguado Union Fenosa Gas Spain Ana Aguado DG ENER, European Commission Europe Matthew Allan Royal Dutch Shell Netherlands Cemil Altin EDF Trading/EFET UK Valentina Andrejeva PUC Latvia Chryssoula Argyriou DG ENER, European Commission Europe Paul Auckland National Grid plc UK Martina Beitke CEFIC Europe Michela Beltracchi Ofgem Spain Inge Benaerts DG ENER, European Commission Europe Sylvia Beyer DG ENER, European Commission Europe Charlotte Blum Argus Media Europe Oliver Bornkamm Bundesministers für Wirtschaft und Technologie Germany Simon Bradbury Pöyry Energy Consulting Norway José Braz ERSE Portugal Stanislav Brejcha Ministry of Industry and Trade Czech Republic Anna Butenko KEMA Nederland, Gas Consulting Services Netherlands Francesco Cariello ERI TF, ERGEG Italy Dimitrios Chaniotis ENTSO-E Europe Tim Collins CEER Secretariat Europe Jean-François Conil-Lacoste EuroPEX Europe Steve Coomber BritNed Netherlands Willem Coppoolse GDF SUEZ France María Teresa Costa Campí CNE Spain Eugene Coughlan CER Ireland Manuel Coxe EuroPEX Europe Martin Crouch Ofgem GB Jacques de Jong Clingendael International Energy Programme (CIEP) Netherlands Maria Angeles
    [Show full text]
  • MEDOW Training Event
    MEDOW Training Event 10/12/2013 BritNed converter station in Kent Prepared by : Gen Li and Tibin Joseph As a MEDOW training event, we visited the HVDC converter station of BritNed in Kent on 10th December. It is an updated one compared to the UK-France HVDC cross-channel converter station at National Grid’s Sellindge Substation, we visited in the morning that day, because it was fully operated in the April 2011 but the latter one was in 1986. The electrical devices and technologies are more advanced for the rapid and ongoing development of the electrical power system. Figure 1 shows the schematic diagram of this project. Figure 1 The design concept of the BritNed project [1] The basic principle of this system is: the AC power from Netherlands will be converted to DC power at the converter station in Maasvlakte, Netherlands, then the DC power will be transmitted through the submarine HVDC cables to the Kent converter station, at last the DC power will be inverted to AC power and transmitted into the Great Britain power grids. The construction of this subsea interconnector required careful planning and precise execution. BritNed worked with its construction partners as one single team to safely design, manufacture and install the BritNed Interconnector to high standards of civil, marine and electrical engineering. The construction comprises three major components: 1) Manufacturing of the subsea cable and corresponding cable installation; 2) Civil construction of two converter stations; 3) Manufacturing and installation of the required electrical equipment and components in the converter stations [1]. During the visiting， the operators there took us around the main equipment, such as the huge Siemens single-phase power transformer, the LCC converters and circuit breakers in the converter halls and filter yard installed in this station.
    [Show full text]
  • UT3 Issue 6 2016 / 2017
    UT3 Issue Six 2016/17 Offshore Diving 1 Underwater Vehicles THE MAGAZINE OF THE SOCIETY FOR UNDERWATERUT3 Issue TECHNOLOGY 6 Dec 2016 Jan 2017 Multiphase UT3 Compressor UT3 Issue Six 2016 Issue 6 2017 Offshore News 4 Underwater Vehicles 1 THE MAGAZINE OF THE SOCIETY FOR UNDERWATERUT3 Issue TECHNOLOGY 4a Dec 2016 Jan 2017 Engineering 30 The Remotely Operated Vehicle (ROV) Surveyor Interceptor Mobile Mapping 36 Image MMT IRM 44 Pipelines, Umbilicals and Cables 51 Diving 64 Vol 11 No 6 Society for Underwater Subsea Robotics 70 Technology 1 Fetter Lane Subsea Survey 80 London EC4A 1BR Renewables 84 +44 (0) 1480 370007 SUT 90 Editor: John Howes [email protected] Editorial Assistant: Lester Square Production: Introducing the world’s fi rst subsea wet gas compressor. Sue Denham Design Developed in collaboration with Statoil, the multiphase compressor is an industry fi rst, designed as a Rhoda Borrox contrarotating machine specifi cally for pressure boosting unprocessed well streams with no requirements ISSN: 1752-0592 for an antisurge system or upstream gas treatment. Based on our multiphase pump technology—which has accumulated more than 2.6 million hours of Published by UT2 Publishing for and on behalf of the Society for Underwater run time—this compact and robust system enables longer step-outs, continuous operation for lower capex, Technology. Reproduction of UT2 in whole or in part, without permission, is and increased production from subsea gas fi elds. prohibited. The publisher and the SUT assumes no responsibility for unsolicited material, nor responsibility for content of any advertisement, particularly 2 infringement of copyrights, trademarks, intellectual property rights and 3 Find out more at patents, nor liability for misrepresentations, false or misleading statements and illustrations.
    [Show full text]
  • National Grid Ventures and Other Factsheet
    National Grid Ventures and other activities Investor Relations | May 2019 National Grid Ventures is a diverse portfolio of commercial energy businesses operating in competitive markets in the UK and the US. The portfolio comprises of long-term assets with a low risk profile and strong cash flows. Interconnectors Operational In construction Interconnectors deliver secure and affordable electricity between two markets and will play a critical role in the cleaner and smarter energy systems of the future. They are recognised by the UK Government as a vital tool to manage NSL energy security, costs to consumers and provide long term sustainability. As an interconnector owner and operator, we sell capacity on the Viking interconnector to energy traders and provide services for transmission system operators in the UK and mainland Europe. The main interconnection capacity is sold by auctioning capacity based on the price differentials between markets BritNed at each end of the link. This represents roughly 80-90% of revenues, with the remaining 10-20% derived from ancillary services. NEMO IFA2 IFA Overview of National Grid Interconnectors IFA BritNed Nemo Link IFA 2 NSL Viking Link Capacity 2GW 1GW 1GW 1GW 1.4GW 1.4GW Total length 70km 260km 140km 240km 720km 760km Converter UK: UK: UK: UK: UK: UK: stations Sellindge Isle of Grain Richborough Chilling Blyth Bicker Fen France: Netherlands: Belgium: France: Norway: Denmark: Les Mandarins Maasvlakte Herdersbrug Tourbe Kvilldal Revsing Commissioned 1986 2011 2019 FY21 est FY22 est FY24 est Ownership Partnership Joint venture Joint venture Partnership Partnership Partnership with RTE NG & TenneT NG & Elia with RTE with Statnett with Energinet Exp.
    [Show full text]
  • GRIDLINK INTERCONNECTOR Scoping Report for a Marine Environmental Appraisal
    GRIDLINK INTERCONNECTOR Scoping Report for a Marine Environmental Appraisal P2114_R4493_Rev2 | 16 August 2018 Intertek Energy & Water Consultancy Services Exchange House, Station Road, Liphook, Hampshire GU30 7DW, United Kingdom GridLink Interconnector Scoping Report for a Marine Environmental Appraisal DOCUMENT RELEASE FORM GridLink Interconnector P2114_R4493_Rev2 Scoping Report for a Marine Environmental Appraisal Author/s Jill Hobbs Project Manager Authoriser Anna Farley Anna Farley Rev No Date Reason Author Checker Authoriser Rev 0 24/05/2018 Draft JH AF AF Rev 1 29/06/2018 Addressing client comments JH AF AF Rev 2 16/08/2018 Final for issue JH AF AF Intertek Energy & Water Consultancy Services is the trading name of Metoc Ltd, a member of the Intertek group of companies. I P2114_R4493_Rev2 | 16 August 2018 GridLink Interconnector Scoping Report for a Marine Environmental Appraisal CONTENTS DOCUMENT RELEASE FORM I 1. INTRODUCTION 1 1.1 Background 1 1.2 Scoping Opinion 1 2. THE PROPOSED DEVELOPMENT 3 2.1 Background 3 2.2 French Components of GridLink 3 2.3 Overview of the Proposed Development 3 2.4 Subsea HVDC Cables 8 2.5 Shore Crossing 14 2.6 Converter Station 15 2.7 Onshore HVAC Cables to NGET Kingsnorth Sub-station 17 2.8 Environmental Management of Construction of the Proposed Development 18 2.9 Operation and Maintenance of the Proposed Development 19 2.10 Decommissioning 20 3. REGULATORY CONTEXT 21 3.1 Introduction 21 3.2 Need for EIA in the UK 21 3.3 Need for EIA in France 21 4. SCOPING METHODOLOGY 22 4.1 Introduction 22 4.2 Scoping Methodology 22 4.3 Consultation 24 5.
    [Show full text]