The Gas and Electricity Markets Authority ("the Authority") has confirmed its decision to impose a financial penalty on National Grid Electricity System Operator (National Grid ESO) for its failure to comply with Standard Condition C16 of its Transmission Licence.
Standard Condition C16 requires National Grid ESO to provide accurate and unbiased forecasts of electricity demand.
National Grid ESO has agreed to pay £1.5m (less a £1 financial penalty) in voluntary redress. The redress will be paid into Ofgem’s Voluntary Redress Fund (administered by the Energy Saving Trust) and the money will be used to the benefit of energy consumers.
Further information can be found in the decision document.