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…
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.