BritNed Development Limited is a privately owned company set up to commercially operate the BritNed Interconnector which carries electricity between Great Britain and The Netherlands.
This 50:50 joint venture of National Grid Holdings One PLC. (Great Britain) and TenneT Holding B.V. (The Netherlands) is funded and operated on a commercial basis, independently of their regulated business. This connection forms part of a major programme of investments by National Grid and TenneT to ensure a continuing security of supply and diversity of supply helping to facilitate low carbon generation.
Towards a single European market
The connection will help to create a stronger European energy market. This market is characterised by transparency, sufficient liquidity and fair pricing. BritNed promotes the international market function and coincides with the objective of the European Union to provide more interconnectivity between European countries.
BritNed is the first subsea electricity interconnector between the two countries and has a capacity of 1000 MW which can flow in either direction. The direction will respond to the level of supply and demand for electricity in markets. It links the generating capacity and the electricity demand of domestic and industrial consumers in both countries.
BritNed's customers have open access to the capacity through a combination of implicit auctions (day ahead) and BritNed's explicit auctions (annual and monthly).