POWER: Fingrid’s Three Cross-Border Projects Gain EU Common Interest Status
Dec-04 16:03
Fingrid’s three new cross-border electricity projects—1GW Aurora Line 2, 700MW Estlink 3, and 800MW Fenno-Skan 3—have been officially recognised by the EU as projects of common and mutual interest, Fingrid said.
- The move paves the way for faster approvals and potential EU funding, the TSO noted.
- Aurora Line 2 is a new land connection planned between Finland and Sweden in the early 2030s, designed to complement the recently completed Aurora Line, which was commissioned in November 2025.
- Estlink 3 is the third submarine cable to Estonia, which is expected to boost transmission capacity and regional energy security once completed in 2H of 2030.
- Fenno-Skan 3 is a new cable to Sweden that upgrades capacity, strengthens connections, and replaces the 1989 Fenno-Skan 1 cable. The link is expected to be commissioned in 2038.
- This comes as Finland’s Energy Authority ruled that power hedging between the Finnish-Swedish bidding zones is inadequate, ordering Fingrid to develop new long-term cross-zonal hedging arrangements within six months, it said on 4 December.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
UK FISCAL: Poll: Voters Would See Basic Rate Tax Hike As Clear Manifesto Breach
Nov-04 15:56
The latest polling from YouGov shows that, while respondents are already anticipating tax hikes in the 26 November budget (UK FISCAL: Reeves Prepares Ground For Tax Hikes; Voters Already Expecting Them), the prospect of an increase to the basic rate of income tax would be a clear breach of its pre-election manifesto pledges.
- Amid rising speculation that the basic rate could be increased, 69% of respondents believe this would break the promise made pre-2024 election that Labour would not increase income tax, VAT, or National Insurance contributions. The proportion agreeing that the increase constitutes a breach falls to 45% when asked about an increase to the higher rate of income tax instead.
- The only potential policy polled that was on an even footing was when respondents were asked if combining income tax and National Insurance into a single tax would break pre-election promises, with 24% saying it would, 24% saying it would not, and 52% unsure.
Chart 1. Opinion Poll, 'What would count as Labour breaking their tax promises?', %
Source: YouGov. Fieldwork: 29-30 Oct.
OPTIONS: Expiries for Nov5 NY cut 1000ET (Source DTCC)
Nov-04 15:48
- EUR/USD: $1.1525(E630mln), $1.1600-20(E1.4bln)
- EUR/GBP: Gbp0.8745(Gbp753mln)
- USD/JPY: Y153.35-50($905mln)
- NZD/USD: $0.5650(N$1.2bln), $0.5675(N$1.2bln)
EURIBOR OPTIONS: ERM6 Call Buyer
Nov-04 15:42
ERM6 98.75 call, paper pays 1.0 in 9k
- ERM6 currently +1.0 tick at 98.045 today.
