Getlink, the operator of the Channel Tunnel, has announced the gradual resumption of operations for its ElecLink interconnection this Wednesday. This one-gigawatt cable, connecting France and the United Kingdom, was taken offline on September 25 due to a technical malfunction.
A measurable financial impact
The suspension of ElecLink has affected the group’s financial results. At the end of January, Getlink reported that the interconnection’s annual revenue had halved to €280 million. This decline is attributed to the normalization of electricity markets and the shutdown of the cable. Additionally, 2023 saw a drop in electricity prices following a period of high volatility in 2022.
A progressive return to full capacity
According to Getlink, repair work is now complete, and ElecLink is entering a final assessment and testing phase before resuming full service. During this period, expected to conclude on February 10, brief interruptions may occur to optimize system performance.
A dynamic commercial model
Between February 5 and 10, ElecLink’s capacity will be auctioned daily and intraday. This sales model allows market participants to adjust to supply and demand fluctuations, in a context of electricity price stabilization.
Outlook for 2025
The ElecLink outage during the first weeks of 2025 has already resulted in an estimated €25 million impact for Getlink. However, the company has secured €168 million in revenue for the year, assuming the service becomes fully operational starting February 5.
