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UK Grid prepares to pay cos cash to cut power use this winter - report

By Frank Prenesti

Date: Thursday 30 Jun 2022

(Sharecast News) - National Grid is asking UK companies how much electricity demand they will be able to cut next winter to help keep the lights on, Bloomberg reported, citing documents.

The network manager sent a request to some firms last week, asking for details and how much they would need to be paid to reduce operations, the report stated.

National Grid is exploring all options available to avoid blackouts this winter as the gas crisis threatens security of supply across Europe. Britain relies on the fuel for more than a third of its power generation, which would be at risk if Russian flows to Europe stop and stores run dry.

"To establish the viability of a commercial national demand service, the Electricity System Operator would like to know the likely megawatt volume suppliers could aggregate," National Grid said in the document.

A service is also being worked on for households to receive payments for reducing electricity use at peak times. This would be available to 27.8 million homes and small business with smart meters.

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