National Grid settles with energy regulator over demand forecasts By Reuters

(Reuters) – Britain’s energy regulator said on Thursday the country’s National Grid (LON:NG) Electricity System Operator had agreed to pay 1.5 million pounds ($2.1 million) to the watchdog for a breach of electricity demand forecasts in 2017.

Ofgem said the operators of the grid, run by National Grid, did not have “adequate controls” in place to provide accurate 7-day ahead electricity demand predictions.

($1 = 0.7265 pounds)