National Grid provides wind generation forecasts on a daily basis which are published on BM Reports
The incentive has been designed to encourage a reduction in the day ahead wind generation forecasting error such that our forecasts should become more accurate. This information provision will have increasing benefit as more wind generation connects to the system in the move towards a sustainable energy sector.
The scheme has two targets per annum based on a Mean Absolute Error (MAE) (the variation between forecast and actual generation) for winter and summer. Details of each target in each respective season is available in the table below. NGET can either gain or lose a maximum of £3million per annum with the maximum available at 0% error and the floor reached if MAE reaches double the target error.
£200k per month
£300k per month