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The winter emergency electricity plan could be activated for the first time with supplies tight due in part to problems in the French energy grid.
The demand flexibility service (DFS) scheme, has already been tested twice in the last two weeks but has not yet been run for a live event.
National Grid said it would decide by around 2.30pm today whether to issue the notice to suppliers and households.
And households will be offered up to £100 by their energy supplier if they cut their use at peak times.
The National Grid ESO previously told The Sun the £100 saving is based on households receiving £3 for every kilowatt-hour during the 12 test demonstrations.
The figure represents the electricity reductions the network thinks a typical household might be able to save.
But the exact saving, and how it is distributed to households, will depend on the individual energy suppliers.
Under the DFS scheme, National Grid will pay households to cut power demand in a number of ways.
This could be by stopping running the washing machine or dishwasher until the supply crunch has eased.
Households which have signed up to the programme in advance will get a message asking them to turn off appliances at a certain time in exchange for £3 per kilowatt-hour saved.
If the £3 is fully passed on by the suppliers to customers, that implies payments of up to £20 for each day when requested by National Grid.
Those taking part will be able to earn money for switching off their appliances during the night amid blackout warnings.
It is hoped that by paying people to charge their electric cars at off-peak times and firing up backup coal plants it can offset the risk of outages.
Certain “protected sites” like hospitals, food manufacturers, oil refineries, some ports, financial services, essential water and sewerage installations, major airports and digital and telecommunication services may not experience blackouts.