Anglo-Dutch company BritNed is to auction off more capacity on its electricity interconnector between the UK and the Netherlands.

The auction tomorrow will on 11 October for 24 hours and give interested parties – including energy firms, traders and banks – the chance to buy shares totalling 150 MW in the 1 GW interconnector.

BritNed is a joint venture between Britain’s National Grid and its Dutch counterpart TenneT which was set up in April to operate the interconnector, which runs between the Isle of Grain and Maasvlakte.

The UK already has an interconnector with France, is building another between Wales and Ireland and is in talks over more linking with Norway, Belgium and Iceland.

Last week the European Investment Bank (EIB) revealed it is to provide €350m ($467.5m) funding for an interconnector between France and Spain.

It will be built between Figueres in Spain and Baixas, near Perpignan, and is scheduled to be operational in 2014.

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