Article taken from: finance.yahoo.com
Bloomberg) — A spike in electricity prices last week in the U.K. is raising questions about how well the network operator is balancing the grid and at what cost to consumers. Electricity prices surged to more than 10 times the average following a market warning from National Grid Plc on Sept. 15. The network manager said calm weather and warm temperatures were set to lower the supply buffer it keeps to ensure there’s enough power in the system. […] Some analysis suggest National Grid made mistakes in the process that could lead to higher bills for consumers. […] This raises the question of whether National Grid should have kept the contract with EDF for so long. National Grid has said that the cost of fine-tuning supply and demand will be 500 million pounds ($646 million) more than usual this summer because of lower consumption during the lockdown.
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