23 December 2022 | Other

The UK grid to pay a record amount to provide electricity in the country

The UK's power grid is facing record costs to provide citizens with electricity. It is worth noting that this year, power stations increased output during an emergency. The network is trying to balance supply and demand before the energy crisis hits Europe.

Between January and October, National Grid Plc paid 3.2billion pound sterling ($3.85 billion) in balancing costs. This is reported by the Electricity System Operator and the Nuclear Industry Association. Ultimately, the additional costs will be reimbursed to consumers, as this year energy costs exceeded the past year by 20%. Moreover, recent figures have not yet been released to the public.

The grid must balance supply and demand at times when markets are being pressured. It usually happens during the colder months. Thus, there will be a need to quickly secure the supply of electricity, which will be rather costly for the citizens of the United Kingdom. As a result, operators' profits will increase. For example, according to Enappsys Group Ltd., one gas-fired power plant operated by VPI Holding Ltd., a unit of the Vitol Group, earned more than 11 million pounds in just one day this month.



Company MarketCheese
Period: 21.11.2025 Expectation: 1078 pips
GBPUSD falls as bullish pressure fades and budget risks loom
14 November 2025 28
Brent sell
Period: 28.11.2025 Expectation: 300 pips
Brent crude capped by $65–$66 resistance
14 November 2025 36
Period: 21.11.2025 Expectation: 660 pips
AUDCAD may enter short-term correction
14 November 2025 34
Period: 21.11.2025 Expectation: 800 pips
Selling SPX as risk-off mood kicks in
14 November 2025 24
Period: 20.11.2025 Expectation: 280 pips
Fading bullish momentum is good reason to sell natural gas
13 November 2025 55
Period: 31.12.2025 Expectation: 800 pips
USDCAD with 1.4090 play is worth buying
13 November 2025 62
Go to forecasts