# The Electricity (Criteria for Relevant Electricity Projects) (Transmission) Regulations 2024, Article 8: High value criterion in respect of a late-model tender exercise


(1) A project must have an estimated capital expenditure equal to or greater than £100,000,000.
(2) In this regulation “estimated capital expenditure” means an estimate of the total costs of a project, calculated by reference to one or more of the following—
(a) any costs relating to the purchase of component parts;
(b) construction costs;
(c) the costs of the acquisition of land on which it is to be situated;
(d) the costs of compliance with the conditions attached to planning consents and property rights;
(e) the costs of third-party works upon which a project’s electricity solution’s operation depends;
(f) project management costs;
(g) itemised risk and contingency allowances;
(h) costs relating to the procurement of itemised goods, services and works;
(i) any other costs that are reasonably integral or relevant to the arrangement, construction, commissioning, procurement, operation or function of the project’s electricity solution.

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Source: https://www.legislation.gov.uk/uksi/2024/168/article/8 (the official version)
Page: https://openlegislation.uk/electricity-criteria-for-relevant-electricity-projects-transmission-regulations-2024/article-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.