The launch of the electricity system operator's Demand Flexibility Service, which will run until 31 March 2023, means a typical household could save approximately £100 through the limited scheme while industrial and commercial businesses with larger energy usage could save multiples of this.
Electricity suppliers and providers can join the service and work with their customers in an effort to boost engagement and participation.
In the coming days the ESO will look to run the first demonstration events for this service, with those providers that have ensured they are ready and able to participate from the first day of this service.
Ofgem, which is the Britain's energy regulator, said that these demonstration events will include a guaranteed acceptance price for the providers that participate, set at £3,000/MWh (£3/kWh).
There will be a total of 12 test days to see how customers respond, but only those with smart meters will be able to take part...