22nd November 2024, Tarchon Energy received Ofgem’s final decision on its Initial Project Assessment (IPA) on 12th November 2024, confirming support for the project to proceed. Ofgem’s decision noted that the project is likely to be of interest to Great Britain’s consumers therefore it has decided to grant Tarchon Energy a cap and floor regime in principle. This begins the cap and floor process whereby UK Government guarantees a minimum price-per-unit of electricity, enabling the scheme to move forward.