Ofgem to probe record £718m grid balancing costs during Covid-19 lockdown

BUSINESS GREEN | Energy regulator's three month review geared at better managing UK grid costs in future as more renewables and green technologies come online.

Ofgem has ordered an investigation into National Grid's energy balancing system, after costs of managing the grid skyrocketed to a record high of £718m in just five months during the coronavirus lockdown.

In an open letter published yesterday, the energy regulator said it plans to review the actions National Grid ESO took to balance the energy system and maintain operations as the shuttering of businesses, offices and industry during lockdown saw power demand plummet in the UK, while output from renewables rose to record levels due to increased capacity and favourable weather conditions.

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