Balancing costs set to reduce nearly by £100m
Forecasts suggest that the total balancing costs, which amounted to £1,413 million in 2023 are…
Tag: balancing costs
ESO releases 2024 summer outlook for electricity network
National Grid ESO anticipates sufficient available supply to meet summer demand at all times
UK wind farm fined £5.5m for overcharging
Ofgem has secured £5.53 million penalty from Dorenell Windfarm Limited for excessive pricing,…
Ofgem greenlights new Balancing Reserve service
The energy regulator has approved a new Balancing Reserve service expected to cut consumer…
ESO launches early constraint service to slash consumer energy bills
The electricity system operator has launched early constraint service to cut consumer energy…
UK grid balancing costs plummet 14% in June
The UK grid balancing costs experienced a 14% drop in June, reaching £112.7 million, according…
National Grid gives summer power promise – no blackouts in sight
Balancing costs are expected to be lower than last summer, according to the ESO's Summer…
Ofgem rejects National Grid ESO’s balancing reserve proposals
The proposed reserve could have potentially saved over £1.5 billion by 2025
National Grid forks out £4bn to keep the lights on
Balancing payments increased following a surge in power prices, according to a new report
Ofgem consults on new licence condition to stop ‘excessive’ balancing profits
The regulator has said the new licence condition will prohibit generators from "obtaining…
