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Celtic Interconnector Project

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Celtic Interconnector Project Celtic Interconnector – Investment Request – Confidential Celtic Interconnector Project Investment Request File 7th September 2018 Celtic Interconnector – Investment Request – Confidential Contents Glossary .................................................................................................................................................... 4 Introduction .............................................................................................................................................. 6 1 Project Description ........................................................................................................................... 8 1.1 Main Technical Features .......................................................................................................... 8 1.2 Rationale behind the Technical Choices ................................................................................... 9 1.3 Celtic Interconnector Route ................................................................................................... 11 1.4 Social and Environmental Impact ........................................................................................... 14 2 Project Organisation and Implementation ..................................................................................... 16 2.1 Project Organisation ............................................................................................................... 16 2.2 Project Implementation Roadmap ......................................................................................... 17 3 Project Costs ................................................................................................................................... 19 3.1 Introduction ............................................................................................................................ 19 3.2 Project Costs ........................................................................................................................... 19 3.3 Project Cost Uncertainty Range ............................................................................................. 21 3.4 Operation and Maintenance Costs......................................................................................... 21 3.5 Network and Operational System Costs ................................................................................ 21 4 Cost-Benefit Analysis ...................................................................................................................... 22 4.1 Cost-Benefit Analysis Assumptions and Methodology .......................................................... 22 4.2 Cost-Benefit Analysis Results ................................................................................................. 26 4.3 Cost Benefit Analysis Sensitivity ............................................................................................. 29 4.4 Expected Usage of the Celtic Interconnector ......................................................................... 34 4.5 Cost-Benefit Analysis Summary and Discussion ..................................................................... 35 5 National Net-Impacts ..................................................................................................................... 36 5.1 Identification of the Countries above the 10% Benefit Threshold ......................................... 36 5.2 Conclusions of the National Net Impacts Analysis ................................................................. 36 6 Externalities .................................................................................................................................... 37 6.1 Solidarity (including Security of Supply, Market Integration and Sustainability) ................... 37 6.2 Further Externalities regarding Market Integration ............................................................... 39 6.3 Further Externalities regarding Security of Supply in Europe ................................................ 39 6.4 Further Externalities regarding Sustainability ........................................................................ 39 7 Project Business Plan ...................................................................................................................... 40 7.1 Celtic Costs and Revenues ...................................................................................................... 40 7.2 CEF Grant Eligibility ................................................................................................................ 41 7.3 Financing Strategy .................................................................................................................. 42 7.4 Potential Financing Solution ................................................................................................... 43 7.5 Impact on Regulatory Asset Base ........................................................................................... 44 1 Celtic Interconnector – Investment Request – Confidential 7.6 Impact on the Network Tariffs ............................................................................................... 44 8 Cross Border Cost Allocation .......................................................................................................... 46 8.1 Key Points for CBCA ................................................................................................................ 46 8.2 Maximum Investment Cost for France ................................................................................... 46 8.3 Cross Border Cost Allocation Proposal ................................................................................... 47 Appendix A1 Complementary Technical Information ..................................................................... 48 A1.1 Technical Description of the Project ...................................................................................... 48 A1.2 Assessment of the Availability Rate of the Celtic Interconnector ......................................... 51 A1.3 Assessment of Risk Factors for Implementation Plan ............................................................ 56 Appendix A2 Celtic Interconnector Costs Analysis .......................................................................... 58 A2.1 Project Cost Uncertainty ........................................................................................................ 58 A2.2 Cost Efficiency ........................................................................................................................ 60 A2.3 Project Cost Schedule ............................................................................................................. 60 Appendix A3 Impact on the French and Irish power systems ......................................................... 62 A3.1 Grid Transfer Capacity ............................................................................................................ 62 A3.2 System Operation ................................................................................................................... 73 Appendix A4 Cost-Benefit Analysis Methodology ........................................................................... 76 A4.1 ENTSO-E TYNDP 2018 CBA Assessment Framework .............................................................. 76 A4.2 Security of Supply Adequacy Benefit Methodology ............................................................... 77 A4.3 Cost-Benefit Analysis Scenarios.............................................................................................. 80 A4.4 Expected Evolution of the Generation Mixes ......................................................................... 83 Appendix A5 Comparison of TYNDP 2018 Results and Celtic CBA Results ...................................... 88 Appendix A6 Surplus Analysis .......................................................................................................... 89 Appendix A7 Interconnector Usage Rates ....................................................................................... 91 Appendix A8 CBA Sensitivity Analysis .............................................................................................. 92 Appendix A9 Brexit Sensitivity Analysis ........................................................................................... 94 A9.1 Assumptions ........................................................................................................................... 94 A9.2 Results for the Celtic Interconnector Economics ................................................................... 95 Appendix A10 Network Tariffs ........................................................................................................... 96 A10.1 Description of the National Tariff Models .......................................................................... 96 A10.2 Assessment of Impact on the National Transmission Tariffs ............................................. 98 Appendix A11 Celtic Business Plans (Merchant line) ....................................................................... 100 A11.1 Celtic Interconnector Business Plan – EirGrid .................................................................. 100 A11.2 Celtic Interconnector Business Plan – RTE ....................................................................... 101 Appendix A12 CRU Specific Section ................................................................................................
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