Getlink: ElecLink: A Wholly Successful First Week of Operations

Rhea-AI Summary

Getlink (Paris:GET) reports a successful first week of operations for its electrical interconnector, ElecLink, highlighting the complete sale of its capacity during initial auctions. The short-term capacity auctions began on May 24, and the full capacity was sold out, reflecting strong market interest. The ElecLink, which connects the UK and France via a 52 km cable, aims to enhance energy security and contribute to decarbonization. CEO Yann Leriche expressed satisfaction with the operational performance, indicating plans for long-term contracts starting this week.

Positive

• Successful first week of ElecLink operations with full capacity sold during initial auctions.
• Strong market interest confirmed through the sale of entire available capacity.
• Operational excellence reported with high-quality service delivered to customers.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Getlink (Paris:GET) is delighted with the good first week of commercial operations of its electrical interconnector, ElecLink, marked by the success of the initial auctions and the first transfers of energy through the cable.

The first auctions for short term capacity (day ahead) held since 24 May were met with great success. The entire capacity available was sold, confirming the interest of the sector for this new interconnection. The first monthly auctions will take place from 01 June, for the month of July and will be accessible via the JAO platform¹.

From an operational perspective, the go-live of the cable was also achieved successfully. For this world’s first, ElecLink delivered an excellent quality of service to its customers.

Yann Leriche, Chief executive officer of Getlink, stated, “The very positive delivery of this first week of operations brings real satisfaction to our Group. In line with all our activities, we put operational excellence at the heart of our service. Our customers have bought the entire capacity available since the go-live of the cable and their confidence will enable us to introduce long term contracts starting from this week”.

About ElecLink:

ElecLink is a 1GW capacity electrical interconnector linking the United Kingdom and France via a 52km long cable installed in the Channel Tunnel. Environmentally friendly by nature, having no impact on the marine ecosystem, ElecLink will contribute to the security of supply and the decarbonization of energy and will provide access to low-cost electricity.

¹ The JAO Platform is accessible via www.jao.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220529005060/en/

Getlink:

For UK media enquiries contact

John Keefe on + 44 (0) 1303 284491

Email: press@getlinkgroup.com

For other media enquiries contact

Romain Dufour on +33(0)1 4098 0464

For investor enquiries contact

Jean-Baptiste Roussille on +33 (0)1 40 98 04 81

Email: jean-baptiste.roussille@getlinkgroup.com

Michael Schuller on +44 (0) 1303 288749

Email: Michael.schuller@getlinkgroup.com

Source: Getlink S.E.