Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Platforms definition

What does Platforms mean? In legal and advisory practice, platforms are online investment administration systems used by advisers and clients to manage portfolios across multiple tax wrappers and products from a single interface. The term is descriptive (not statutory), though the FCA Glossary defines the related concept of a “platform service.” Usage is broadly consistent across England & Wales, Scotland and Northern Ireland; in Ireland, similar services are regulated by the Central Bank of Ireland. Typical legal features include: custody via a nominee company (legal title held by the nominee; beneficial ownership with the client), dealing and settlement, consolidated reporting, rebalancing, model portfolios...

Offshore Transmission Owners in Great Britain: legislation, Generator/OFTO Build models, tendering and asset transfer, licence obligations and revenue, OFTO of Last Resort, and future coordinated offshore network development

Published by a LexisNexis Energy expert

Practice notes

What are OFTOs?

Offshore Transmission Owners (OFTOs) hold and operate the offshore transmission assets that link offshore wind farms to the mainland electricity system. These assets span the full chain from the offshore interface with the generating wind farm through to the onshore grid connection point, and include all cables and related connection equipment. Commonly, the assets comprise any offshore Platforms and linked substations, export cables, the onshore substation, and the onshore cable routes to the Distribution Network Operator substation. For details on the various participants in the Great Britain (GB) onshore and offshore transmission landscape, and how they sit within the broader GB electricity market, see Practice Note: The Great Britain electricity market—an introduction.

Introduction to the OFTO regime

The legislative framework

In 2011, the EU Third Energy Package was transposed into UK law via the Electricity and Gas (Internal Markets) Regulations 2011 (2011 Regulations), SI 2011/2704, establishing ‘Ownership unbundling’. This requires the separation of transmission system ownership and operation from gas and electricity generation, production and supply activities. For further background on this unbundling framework, see Practice Note: EU electricity, gas and hydrogen networks—unbundling. In June...

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Web page updated on 21/05/2026

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