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The Continued Effects of the IFA1 Interconnector Fire On Your Business
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IFA1 Interconnector Update
Following the fire at the IFA1 interconnector on 15th September, the National Grid announced that the interconnector, originally expected to return on 13th October, will continue to be offline until 23rd October. The news comes as rising gas and electricity prices place the energy sector under increasing strain, sending some smaller energy providers out of business.
The National Grid confirmed that “the remaining 1000 MW available at the interconnector will not be available until 27th March 2022”.
What is it, and what does it mean for you?
A fire at a critical nodal point in the electrical grid has shut down a major cable transporting electricity from France, under the English Channel and to the UK.
The National Grid has just reported a fire at the IFA1 interconnector site in Kent. The IFA1 stands for “Interconnexion France-Angleterre”. The site is a collaborative project between the French operator RTE and the British National Grid. The grid operates a 2-gigawatt subsea link between Britain and France.
What does the fire mean for me and my business?
The outage comes at a critical moment in the sector, with Ofgem Chief Executive Jonathan Brearley last month warning that “Global prices for fossil fuels, especially gas, are increasing at an unprecedented rate”. The outage, which has reduced the capacity of the IFA1 from 2GW to 1GW, comes at a time when the price of electricity and gas is already at a record high. With the IFA1 interconnector expected to be out of service until the 13th October, the fire will likely lead to a sharp increase in energy prices.