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Businesses to be offered cash for reducing electricity use

Regulator Ofgem is to offer businesses the opportunity to reduce their electricity use during times of high demand in return for payment, reports Edie.net.

Businesses will be asked to reduce electricity in the winter between four and eight pm on weekday evenings, while the amount they receive would be determined through a tender run by National Grid next year.

The initiative is part of a set of measures that will be available for National Grid to use to manage tighter electricity supplies from next winter.

In Ofgem’s 2013 electricity Capacity Assessment published this June, the regulators analysis showed that electricity margins could tighten in 2015-2016 to between around 2-5%, depending on the outlook for demand.

Read more on this story at Edie.net

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