National Grid ESO forecasts sufficient electricity supplies this summer

The market will continue to be hit by high electricity prices in the summer, according to a new report

Big Zero Report 2022

Britain’s electricity supplies are about to see ‘sunny’ days ahead.

In its annual summer outlook report, National Grid Electricity System Operator (NG ESO) suggests there will be safe and secure electricity supplies this summer.

It forecasts peak demand and reserve requirements will be met at all times throughout summer without relying on imports from Europe.

Two weeks ago, the ESO awarded contracts to companies operating wind farms and battery storage facilities to reduce constraint costs on a key English/Scottish border in 2023/24.

The report also notes electricity demand and operational management will be very similar to last summer and high electricity prices are expected to continue across the season.

A minimum demand of 17.1GW is predicted to be just marginally lower by 0.1GW than last summer, with a summer peak demand of 32.8GW slightly higher than in 2021, when it was 32.5GW.

Fintan Slye, Executive Director at NG ESO, said: “Our analysis shows we have the right tools and services available to provide a safe, reliable and secure supply of electricity this summer.

“We continue to work with the government, Ofgem and industry stakeholders to manage our electricity system effectively and efficiently, with the right plans and resilience to deal with emerging issues, whilst building tomorrow’s cleaner, greener and fairer system.”

A few days ago, Mr Slye hinted at changes to metering requirements for the Balancing Mechanism to help suppliers to bid aggregated demand into the Balancing Market.

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