Getlink SE: Gradual return to service of ElecLink operations
Getlink SE: Gradual return to service of ElecLink operations
PARIS--(BUSINESS WIRE)--Regulatory News:
As a reminder, a fault was detected on the ElecLink electricity interconnector between France and the UK, leading to a suspension of activity since 25 September 2024.
Works to restore the cable are now finalised and ElecLink is carrying out the final phase of assessment and testing, enabling the interconnector to be gradually brought back into service from 5 February 2025.
During this final phase, which is scheduled to end on 10 February, ElecLink will perform checks that may lead to short interruptions to complete the return-to-service programme. Between 5 and 10 February, ElecLink will sell its capacity through day ahead and intraday auctions.
The impact of suspension of activity during the first 5 weeks of 2025 is estimated at around € 25 million1. As at 31 December 2024, the Group had secured revenue for 2025 of almost €168 million2 subject to the effective delivery of service from 5 February 2025.
With its 1GW electricity capacity, ElecLink plays an essential role in the energy security for France and the UK.
About Getlink
Getlink SE (Euronext Paris: GET), through its subsidiary Eurotunnel, is the concession holder until 2086 for the Channel Tunnel infrastructure and operates Truck Shuttles and Passenger Shuttles (cars and coaches) between Folkestone (UK) and Calais (France). Since 31 December 2020 Eurotunnel has been developing the smart border to ensure that the Tunnel remains the fastest, most reliable, easiest and most environmentally friendly way to cross the Channel. Since it opened in 1994, more than 518 million people and 106 million vehicles have travelled through the Channel Tunnel. This unique land link, which carries a quarter of trade between the Continent and the United Kingdom, has become a vital link, reinforced by the ElecLink electricity interconnector installed in the Tunnel, which helps to balance energy needs between France and the United Kingdom. Getlink completes its sustainable mobility services with its rail freight subsidiary Europorte. Committed to "low-carbon" services that control their impact on the environment, Getlink has made the place of people, nature and territories a central concern.
1 This amount comprises the commercial impact without taking into consideration the profit-sharing mechanism provision.
2 This amount includes revenue from auctions of physical transport rights for the period from 10 February 2025 to 31 December 2025, as well as secured revenues from capacity mechanisms in France and in Great Britain for 2025, net of estimated penalties for the asset’s non-availability before 5 February.
Contacts
Press contacts :
Anne-Sophie de Faucigny : +33 (0)6.46.01.52.86
Laurence Bault : +33 (0)6.83.61.89.96
Analyst and investor contact :
Virginie Rousseau : +33 (0)6.77.41.03.39
