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Investegate |OFGEM Announcements | OFGEM: NGESO to pay £1 5m for demand forecasts breach

  National Grid Electricity System Operator to pay £1.5 million for failure to meet its licence obligation to provide accurate and unbiased electricity demand forecasts in 2017   • National Grid ESO s obligation to provide unbiased and accurate 7-day ahead electricity demand forecasts was not met during a number of months in 2017     • National Grid ESO will pay £1.5m into Ofgem s voluntary redress fund to support vulnerable energy consumers and innovation.   In 2017, Ofgem introduced a financial incentive to drive National Grid Electricity System Operator (National Grid ESO) to produce more accurate forecasts. The scheme incentivised the company for producing forecasts that were not systematically over or under GB demand.

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