Decision on 2021-22 Interest During Construction (IDC) rates for offshore transmission projects and cap and floor interconnectors

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This letter sets out our decision on the specific Interest During Construction (IDC) rates that will apply to those offshore transmission projects and electricity interconnectors granted the cap and floor regime that reach Final Investment Decision (FID) during 2021-22.

  • Offshore transmission IDC: we decided to set the IDC cap rate at 6.53% (pre-tax, nominal) for those offshore transmission projects reaching FID during 2021-22.
  • Interconnector IDC: we decided to set the IDC rate at 2.69% (vanilla, real-RPI) for those cap and floor Window 2 interconnector projects reaching FID during 2021-22.