UK's National Grid settles with watchdog over electricity demand forecasts

- 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)