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UK's National Grid settles with energy regulator over demand forecasts

April 8 (Reuters) - Britain’s energy regulator said on Thursday the country’s National Grid 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) (Reporting by Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta)

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