Backwards grid meters risk adding £100m a year to GB electricity bills

Incorrectly configured grid meters (running backwards rather than measuring export flows separately) could be adding £100m a year to GB electricity costs, according to Energy Live News. The error means network charges are understated for affected sites, with the shortfall socialised across other consumers. No regulator enforcement timeline has been published.

On the same day, Ofgem released a consultation proposing to update the risk-free rate input used in the price cap EBIT allowance calculation. The change would reflect the UK government's planned reforms to the Retail Prices Index from 2030. The EBIT allowance directly sets the permitted supplier margin baked into default tariffs, making the methodology choice material for retail cost benchmarks.

Separately, Reuters reported that Hungary's Prime Minister described the days ahead as 'critical' in connection with a looming shutdown at the country's Paks nuclear plant. Paks provides roughly half of Hungarian generation; any unplanned outage tightens the Central European supply balance and historically lifts day-ahead spreads in neighbouring bidding zones.