TIDM84WR

RNS Number : 2735Z

Moyle Interconnector (Financing)PLC

21 January 2022

Moyle Interconnector Financing plc

Restrictions on interconnector capacity from Northern Ireland to Great Britain

Since 6 September 2021 the Northern Ireland system operator, SONI Limited, has been periodically restricting the flows of power from Northern Ireland to Great Britain on the Moyle interconnector, the main asset owned by Moyle Interconnector Financing plc's subsidiary, Moyle Interconnector Ltd. The due date for payment of associated compensation due under the Moyle Interconnector Operation and Agency Agreement between SONI Limited and Moyle Interconnector Limited was 20 January 2022 and no payment has yet been received. We are continuing to investigate the reasons for the restrictions with SONI Limited and pursuing payment of amounts due. SONI Limited has advised that it is still consulting with the Regulatory Authorities on the matter. Our total forecast for the amounts due over the year 2021/22 are in excess of GBP10m. The existing protections under the transmission licence of Moyle Interconnector limited remain unaffected and should non-payment cause an under-recovery of Moyle's allowed recovery, the deficit will be recovered from suppliers, and ultimately all customers in Northern Ireland via the existing mechanisms.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDEADFFASEAEFA

(END) Dow Jones Newswires

January 21, 2022 08:52 ET (13:52 GMT)

Grafico Azioni Moyle2.9376%33 (LSE:84WR)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Moyle2.9376%33
Grafico Azioni Moyle2.9376%33 (LSE:84WR)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Moyle2.9376%33