Over a million British homes signed up to scheme to cut winter power demand
Reuters
Published Dec 14, 2022 12:00
LONDON (Reuters) - More than a million British homes have signed up to a scheme which will pay them to cut electricity use to help prevent power shortages this winter, National Grid (LON:NG) said on Wednesday.
Under the demand flexibility service (DFS), homes that have signed up with their suppliers would be paid, usually via money off their bills, for turning off appliances such as ovens and dishwashers during a specific period when electricity demand is high.
National Grid warned in October that homes could face three-hour rolling power cuts this winter if the country is unable to secure enough gas and electricity imports. It launched the DFS as part of its tool box to help prevent cuts.
National Grid’s Electricity System Operator (ESO) said more than a million households have now signed up to the scheme with homes saving a total of around 2.8 million pounds ($3.47 million) during the five tests of the service it has held so far.
“These test results show that if called upon this service will help the ESO balance the national electricity network this winter and is a valuable addition to the ESO’s operational tools,” said Craig Dyke, Head of National Control at National Grid ESO.
($1 = 0.8077 pounds)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.