Fixed Ahead, Paid Later

NESO's draft balancing charges for 2027/28 are 53% above this year's. The odd part is that NESO's own forecast has next winter's balancing costs lower than this winter's. More than half the increase is not next year's cost at all. It is this year's bill, arriving late, carried against a facility a third its size, and priced off a forward curve that no longer exists.