Nemo Link, the first electricity interconnector between the UK and Belgium, recorded exceptional performance in 2022. The subsea cable was available 99% of the time last year, making it one of the most reliable assets of its kind in the world. It’s also important to note that there was no unplanned maintenance during this period.
5.7 TWh of electricity were exchanged between the two countries in 2022. For the first time, the flows between the two countries were almost identical (with import flows to Belgium 45% of the time in 2022, against only 4% in 2021).
Nemo Link demonstrated how key its role is in strengthening security of supply for British and Belgian consumers. For example, in July, the 140 kilometer link avoided major supply problems in London.
The subsea interconnector also provides more opportunities for balancing grids and limiting the impact of imbalance between supply and demand, which is increasingly important with the growth of intermittent renewables. The additional flexibility provided by the high voltage direct current (HVDC) interconnector could limit peaks in imbalance prices.
Nemo Link is also the first interconnector to be delivered under the so-called ‘Cap and Floor’ regulatory framework, which sets a maximum and minimum revenue levels. The Belgian and British regulators have recently approved a Within Period Adjustment request by Nemo Link, which will deliver around to consumers earlier than expected. This will result in grid tariffs being reduced by €67.2 million in each country.
