You can earn money during each event and all payments will be made at the end of the winter
We'll tell you after each event, how much you earned in that event. This will be added up over each event and you'll get a nice big payment for everything that you've earned at the end of the scheme (March/April).
The amount that you can earn in each event will vary depending whether it's a "test" event or a "surprise event" as well as how much you're able to discharge from your battery and reduce in terms of consumption. (See our other article on how to maximise your benefit.)
Test Events
These are scheduled events that the National Grid has planned in order to understand how effective this approach is at managing the National Energy System. You'll get notified of these events well in advance and the price per kWh for these events is usually fixed at about £2.10
Surprise Events
We get much less notice for these events and the rates are determined by the number of participants and the size of the reduction that the national grid needs. There's a bidding process to participate in these events and we'll ensure that the rate that is entered for you has the best balance of being accepted and generating the best income. (If the bid is too high, there is a chance of not being selected to participate).
Due to the fast turnaround time on these events, we will confirm the rate that you've earned once the event is complete.
Interestingly, past Surprise Events have actually earned more than test events.
Final Payment
We're not running a points or prizes scheme - just simple, lovely money! We'll keep track of how much you've earned through each event and will make a single payment to you for everything that you've earned once the scheme has concluded. This is expected to be around March/April.
If you leave the scheme early, your payment will be made once the scheme has concluded, but as per your withdrawal, you will not participate or earn from any events between the point of your withdrawal and the scheme closing.