ENERGY regulator Ofgem has approved £1.1bn in funding for a new subsea power transmission cable in northern Scotland.
The sum awarded is £105m less than the amount requested by SSE subsidiary Scottish Hydro Electricity Transmission. Ofgem said this decision was made “to ensure consumers pay no more than necessary”. The new cable, which will connect the electricity grid on either side of the Moray Firth, will add around £1 to annual electricity bills for domestic users.
According to the regulator, the link will connect 1.2 gigawatts of new renewable electricity generation after its completion in 2018.