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Much of the internal energy market for electricity and gas is being realised through interconnectors. Less affected by short term volatility, they are set to play a crucial role in the EU strategy to achieve a competitive and integrated European energy market.
Fieldfisher has developed a particular expertise in gas and electricity interconnectors, and in the wider European electricity market. We offer cross border jurisdictional capacity in the UK, France, Benelux, and Norway that provides our clients with a seamless service as they engage across at least two borders.
Our understanding of the business is evidenced by the calibre of our interconnector clients and the level of work we undertake, such as our recent experience implementing the EU electricity market regulation in Ireland.
In the UK, we have worked with some of the first merchant interconnectors developed in the 1990s and continue to work with a range of interconnector investors and operators. In Europe, we have developed expertise in working for key market participants involved in interconnector activities, including the regulatory authorities (federal energy regulator CREG in Belgium) and the transmissions system operators (RTE in France).
We are able to draw on significant experience, centred upon regulatory work and corporate governance, while our advisory expertise embraces the life cycle of a project. For example, we were involved in the €4bn Trans Adriatic Pipeline project and advise Interconnector, the operator of a gas interconnector between the UK and Europe (Zeebrugge).
Our key practice areas include:
- Regulatory (EU and member state energy regulation)
- Financial services (regulation of non-physical products, hedging arrangements)
- Offtake agreements, auctions, and transportation services
- Technology (agreements with market operators to provide market services)
- Construction (design and construction agreements with third parties)
- Planning, commercial agreements with third parties
- Data protection
- Corporate (operation and maintenance, corporate governance and joint venture agreements)
- Project finance (to fund the construction and expansion).
We work with a range of clients, most notably in the UK and continental Europe. Our client base includes interconnector operators, shareholders, investors and construction companies.