Business
France-UK electrical interconnector suspension extended, operator says
Global Banking & Finance Review®
Company
(Reuters) – The electrical interconnector between France and Britain will stay suspended until February 2025 due to a damaged cable, channel operator Getlink said on Monday.
(Reuters) – The electrical interconnector between France and Britain will stay suspended until February 2025 due to a damaged cable, channel operator Getlink said on Monday.
The service was first suspended on Sept. 25. The expected return of service is now expected on Feb. 10.
Getlink, which runs the undersea tunnel connecting France to the UK, expects an additional commercial impact of around 11 million euros ($11.56 million) until the end of this year, and an impact of 30 million for the first six weeks of 2025.
The group reiterated its core profit targets for 2024.
($1 = 0.9513 euros)
(Reporting by Gianluca Lo Nostro in Gdansk; editing by Milla Nissi)
A damaged cable refers to a physical impairment in an electrical cable that disrupts its ability to transmit electricity, potentially leading to outages or reduced service capacity.
Commercial impact refers to the effect that an event or situation has on a company's financial performance, including revenues, profits, and overall business operations.
Core profit targets are financial goals set by a company to achieve a specific level of profitability from its primary business operations, excluding non-recurring items or extraordinary expenses.
Return of service refers to the expected date or timeline when a service, such as electricity transmission via an interconnector, is anticipated to resume after being temporarily suspended.
Explore more articles in the Business category
