Coal exit and workforce shortages keep short-term power prices high
"Unfortunately, delays to workforce growth are hindering the transition, leaving all the NEM regions struggling to fill the void left by the retirement of coal generated power."
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Results for: price cap forecast
Found 128 results
Irish power prices expected to drop as gas storage levels remain high
"With prices forecast to remain comparatively stable over the decade, there's cautious optimism that these price drops aren't just a temporary blip but rather symbolic of a sustained trend."
Power price projections fall amid high European gas stocks
"Our forecasts show these lower costs are not just a temporary blip but are part of a sustained shift towards energy affordability."
Wholesale price hikes and Ofgem updates raise price cap forecast
"With both Ofgem and the government seeking views on the future of the default tariff cap and consumer protection in general, it is apparent that we need an enduring solution to the challenge of energy bills that remain hundreds of pounds above the levels we saw prior to the energy...
Cornwall Insight responds to the ESO ‘Beyond 2030’ report
"Achieving these wind and solar capacity targets will demand substantial investment, not only in grid infrastructure but also in the renewable generation assets themselves."
Cornwall Insight’s final forecast for the April price cap
"Fairly healthy gas supply across the Atlantic, coupled with high storage levels in Europe, are helping to keep bills down... but we cannot be sure another political or economic crisis won’t send bills straight back up."
Cheapest fixed energy tariff £130 more than April price cap forecasts
"It is important consumers weigh the immediate appeal of a slightly lower price against the potential for larger savings down the line."
Cornwall Insight key advisor in landmark Toucan Energy portfolio sale
"This transaction is not only a landmark event as the largest operational solar PV sale, but it will help continue to support the UK in moving towards its renewable energy targets."
Price cap predictions continue to fall despite disruption in the Red Sea
"Healthy energy stocks and a positive supply outlook are keeping the wholesale market stable. If this continues, we could see energy costs hitting their lowest since the Russian invasion of Ukraine."
Power prices drop in Ireland as EU increases gas reserves
“While Irish energy prices will likely remain higher than pre-crisis levels for the foreseeable future, Ireland's renewable ambitions are pushing towards a more stable and sustainable energy future."
New FCAS markets could deliver big profits for batteries
"The potential for substantial profits, combined with the vital role batteries play in ensuring grid stability, means they are poised to be a driving force in this revolutionary energy landscape."
Price cap predicted to fall by 14% in April
"Ultimately, waiting and hoping that we will avoid another global incident that sends energy prices climbing is not a sustainable strategy for government."
Cornwall Insight responds to the announcement of the January price cap
“Fundamentally, the solution extends beyond tweaking energy bills, given the underlying cause of rising energy bills over the last 24 months. We need a long-term strategy that reduces our dependence on imports of energy."
Cornwall Insight’s final forecast for the January price cap
"While we continue to advocate for immediate targeted support for vulnerable consumers, it is evident that the only enduring solution lies in transitioning the UK away from the influence of global energy prices towards sustainable, domestically sourced energy."
Price cap forecast to remain above current level until end of 2024
“While the UK will never be entirely protected from global price increases, reducing the country’s reliance on imported energy and prioritising sustainable, domestically sourced energy will help protect the country from international energy shocks."
Irish power prices to rise in 2024 while renewables goals hang in the balance
"Ireland is currently falling short of renewables targets and if this continues it will not only not hit climate goals but could also impact energy costs for consumers out to the end of the decade and beyond."
Government’s offshore wind shortfall could delay net zero
"We can see the country is travelling in the right direction towards a renewables-based electricity system, however, our estimates continue to show it is simply not fast enough to deliver on government targets."
Cornwall Insight release price cap forecasts for 2024
"While the rise is small, it shows we cannot just assume prices will continue their fall and eventually reach pre-pandemic levels."
Social tariffs could cut energy bills by £300 for poorest households
"Many believe such support could be the much-needed lifeline for millions of people who are struggling to pay their energy bills."
Cornwall Insight’s response to the announcement of the October price cap
"The debate around the merits and continued validity of the cap has been compounded by the current cost-of-living crisis. While there is no one simple solution to high energy costs, there are steps that can be taken."
Cornwall Insight’s final forecast for the October price cap
"As many, including energy regulator Ofgem have acknowledged, it is essential that the government explore alternative solutions, such as social tariffs, to ensure stability and affordability for consumers."
Radio 4 Today| October price cap forecast
Following the release of our final price cap predictions for October, our Senior Consultant Kate Mulvany was interviewed on Radio 4’s Today Programme. She spoke on the upcoming cap, what bills could look like going through 2024 and what consumers need to consider when looking at new tariffs. Radio 4...
Mixed outlook for energy bills as new cap announcement looms
"The wholesale market remains the main driver of bills, and unfortunately there is no immediate prospect of prices there returning to historic averages."
Households unlikely to benefit from fixed tariffs over the coming year
"Based on our current forecasts, customers are unlikely to lose out by taking a one-year fixed deal, however, it is doubtful these deals will result in significant savings, if any at all."
New forecast warns power prices to remain elevated until late 2030s
“It is of utmost importance that the government and other decision-makers fully comprehend the urgent and pressing need for continued investment in renewable energy sources and innovative solutions."
Average price cap forecasts fall as Ofgem revises definition of typical energy consumption
"While typical household predictions may provide some insight for consumers, households are still facing the challenge of bills that are well above historic levels."
Guardian| Slight fall in price cap predictions
Prior to the introduction of the July price cap, we released new forecasts that showed the price cap will only fall slightly over the winter, and are likely to remain above historic levels. Dr Craig Lowrey, a Principle Consultant at Cornwall Insight spoke on the urgency to review the price...
Development of long-duration energy storage vital to achieving net zero targets
"With the stakes higher than ever, the report underscores the critical role that financial incentives play in driving innovation and accelerating the development of long-duration energy storage technologies."
VNI West Project could delay the retirement of coal generators
"With the anticipated rise in exports to Victoria, alongside the retirement of Eraring and the delayed energy transition targets in NSW, there exists the possibility of a considerable uptick in prices and potentially enhanced profitability, giving coal generators a reason to stay in the game."
Cornwall Insight responds to the announcement of the July Price cap
"The cap is still nearly double the pre-pandemic average, and with our current forecasts showing no significant decreases on the horizon, we must confront the reality that the cap, while offering some limited protection, doesn't do enough to shield many vulnerable consumers."
