Regulation and policy

  • Regulation and policy

    Is your organisation ready for the Labour government? 

    The new government is wasting no time rolling out its ambitious plans for a net zero electricity system by 2030. In the last few days, we’ve seen announcements on Onshore Wind restrictions, the National Wealth Fund, and the launch of a Mission Control for clean energy.  The proposals are expected...

  • Regulation and policy

    How effective were the UK’s energy bill support schemes? 

    Introduced during a period of record high energy prices, the UK Government's energy support schemes came to an end on 31 March this year. Evaluating emergency measures such as these purely on their value for money is difficult, as the policy was intended to serve multiple purposes.   At the time...

  • Regulation and policy

    Government Announces Record Budget for Contracts for Difference Allocation Round 6

    The government has released the budget and reference prices, along with the auction parameters, for the upcoming Contract for Difference (CfD) Allocation Round 6 (AR6). As recently reported, there were considerable questions outstanding about the parameters which will be used in the auction and significant pressure was placed on AR6...

  • Regulation and policy

    Two years on: How Russia’s invasion of Ukraine reshaped the UK’s energy landscape

    Two years ago, on 24 February 2022, Russia launched a large-scale invasion of Ukraine. As well as causing widespread devastation and displacement, resulting in a humanitarian crisis, the ensuing conflict also had a wide range of consequences for the energy sector such as causing a structural change in European gas...

  • Regulation and policy

    Calm after the storm although transition begins to lag | 2023 year in review

    This year saw a return to relative calmness after the energy shocks of last year, while governments are playing an increasing role as the rate of new renewable generation lags. Spot pricing was subdued compared to last year, with no significant unexpected outages that caused sustained price spikes. Higher levels...

  • Announcement

    Offshore wind now appears in latest ISP

    The ISP also forecasts that greater flexible gas generation is needed From Cornwall Insight Australia's Energy Market Alerts service Offshore wind officially appears in the draft 2024 ISP due to state-based offshore wind targets. Figure 1 below from our latest Energy Market Alert, shows the variance in forecast generation between...

  • Announcement

    Capacity Investment Scheme boosted from 6GW to 32GW

    From Cornwall Insight Australia's Energy Market Alerts service Last Friday, the Commonwealth announced a major boost to the Capacity Investment Scheme, with the scheme now expected to deliver 32GW (combination of 9GW firming capacity and 23GW renewable generation) – up from 6GW. Cornwall Insight Australia has released an Energy Market...

  • Regulation and policy

    Building back: Autumn Statement seeks to deliver investment confidence

    On 22 November, the Chancellor of the Exchequer, Jeremy Hunt, presented the government’s Autumn Statement 2023. The Statement contained a variety of measures related to energy including: £600bn of planned public sector investment over the next five years to underpin future growth and support energy security, net zero, and public...

  • Announcement

    What are Australia’s emissions reduction targets?

    From Cornwall Insight Australia's Energy Market Alerts service Energy laws have now been amended to incorporate an emissions reduction objective alongside the other objectives. The list of targets that the market bodies will need to consider is listed in a separately published Targets Statement. The targets currently listed cover both...

  • Announcement

    Emissions intensity drops for October 2023

    From Cornwall Insight Australia’s NEM Market Analysis report This October saw a 12.6% reduction in total emissions (accounting for -1.18 Mt CO2-e reduction) as solar and wind generation has increased significantly. The reduction in emissions may continue with the arrival of Fly Creek and Rye Park wind farms expected soon...

  • Regulation and policy

    What’s going on with REGOs?

    Renewable Energy Guarantees of Origin, more commonly referred to as REGOs, are certificates issued to accredited renewable generators for every MWh of electricity they produce over a year period. The initial intentions of these certificates were to provide suppliers a means to prove the level of renewable generation they received...

  • Low carbon generation

    De-risking renewable development: CI RESS Model inspires policy changes in RESS 3 T&Cs  

    Last year, we partnered together with Wind Energy Ireland (WEI) to produce a report titled “Improving Revenue Certainty and Risk Allocation for New Renewable Generators”, which explored potential auction policy changes for the RESS auction that would help de-risk renewable investment for developers and generators. At the heart of this...

  • Regulation and policy

    Capacity Market: Rule changes for upcoming auctions

    The latest round of Capacity Market auctions is underway following the publication of the auction parameters on 18 July, with the prequalification window subsequently opening on 26 July. In this blog, we explore some of the changes made to the rules and regulations of the scheme ahead of this year’s...

  • Announcement

    2022/23 Australian energy insights report

    Analytics on key current developments in the Australian energy industry Cornwall Insight Australia has released its latest compilation of Australian energy insights, charts, and analyses. The report includes the topics of energy storage and flexibility, generation (all technologies), power prices, low carbon generation, FCAS, policy and regulation, electric vehicles, and...

  • Regulation and policy

    Australian policy and regulation update

    Strategic overview: The course of Australian energy policy and regulation would inevitably alter following the change in Federal Government in May last year. Since then, the state and Federal governments have become aligned on energy policy, largely removing energy as a perennial football in Australian politics. The alignment manifests in...

  • Regulation and policy

    Free Energy market alert | Last night’s Federal budget

    The Federal Budget released yesterday (9 May 2023) is the first full-year budget from the new Labor Federal Government. Like the mini-budget released last October, the budget signals the new Government’s intertwining climate change and energy ambitions. Cornwall Insight Australia has released a concise Energy Market Alert on the budget,...

  • Regulation and policy

    Come gather ‘round people: recent policy and industry developments 

    In the recent weeks and months there has been a flurry of policy documents published seeking to address both near-term and future challenges in the energy market. In our latest blog, we provide a summary of some of the key updates across Low Carbon Generation, Flexibility Markets, and Electricity and...

  • Regulation and policy

    Our response to the Spring Budget

    Once again, a UK budget has seen some significant energy policy announcements that will stir up conversation and opinion across the country. It also shows how reining in energy prices is seen as key to restraining inflation. The pre-budget announcement to maintain the Energy Price Guarantee (EPG) at £2,500 had...

  • Regulation and policy

    Questions from the British-Ireland Parliamentary Assembly

    Ruth Young, Senior Consultant at Cornwall Insight Ireland and Robert Buckley, Head of Relationship Development, recently participated in a session at the British-Ireland Parliamentary Assembly to address recent energy trends. They prepared a sample of the briefing notes with answers to: What are the main challenges governments in the BIPA...

  • Low carbon generation

    Government publishes Ireland’s Climate Action Plan 2023

    This article is an extract from our Energy Spectrum Ireland service, which is a monthly publication and weekly news bulletin covering key developments in the Irish and Northern Irish energy sectors. If you are interested, we are currently offering a free trial which you can sign up to by filling...

  • Business supply and services

    Early implications of the Energy Bill Discount Scheme  

    People are beginning to take in the changes from the business Energy Bill Relief Scheme (EBRS) to the Energy Bill Discount Scheme (EBDS) that are scheduled for the end of March. As we outlined in our release earlier in the week, the government support is to be scaled back significantly....

  • Business supply and services

    Top 3 predictions for the energy transition

    Robert Buckley, our Head of Relationship Development, gave his top 3 predictions for the energy transition in 2023. 1) Decarbonisation destabilisation Europe’s energy market is going through a war-driven restructuring away from Russian gas which will take years. Wholesale gas, coal and carbon prices will remain very high much longer...

  • E-mobility and low carbon

    2022’s most exciting ‘Charts of the Week’

    Some of our team have looked back throughout 2022 and picked their most exciting ‘Chart of the Week’.​Their choices include exploring green tariffs, wholesale gas prices, CfD allocation round 4 and the MHHS Implementation Levy.  It’s My Birthday – Two years of Dynamic Containment Picked by Tom Faulkner, Head of...

  • Regulation and policy

    Global shocks but energy transition powers ahead – 2022 year in review

    It goes without saying that 2022 has been a tumultuous year for energy worldwide, and Australia was no exception. The unprecedented suspension of the NEM in June 2022 exposed fragility in Australia’s energy market, which could not withstand the shock of high energy commodity prices caused by the Russian invasion...

  • Regulation and policy

    Energy Market Alerts service and key alerts

    Australia’s energy market is rapidly changing, with increasing renewable generation, exiting thermal plants, and new technologies on the horizon, such as hydrogen. Policymakers and regulators at the Federal and State levels are grappling with this transition. As a result, it may seem there are a bewildering number of regulatory changes...

  • Regulation and policy

    Regulatory Authority (RA) System Services Future Arrangements (SSFA) Workshop

    The RA held a stakeholder workshop on 23 November to provide an update on the next steps of the project following the publication of the decision paper on the System Services Future Arrangements High Level Design (SEM-22-012) in April 2022. The objective of the SSFA is to deliver a competitive...

  • Regulation and policy

    Government to implement EU measures to address windfall gains

    On Tuesday 22 November, the government announced that it will implement Council Regulation (EU) 2022/1854 to address windfall gains in the energy sector. This will include a cap on all market revenues of non-gas electricity generators, with excess revenues to be collected and used to support electricity consumers. The cap...

  • Regulation and policy

    What are social tariffs and why might we need them?   

    As the government’s primary tools for mitigating high consumer energy bills are expected to end in April 2024, and with the Autumn Statement’s mention of a “new approach to consumer protection” many are discussing the future of the UK’s energy bill support mechanisms. Given the Statement’s express mention of “social...

  • Commercial and market outlook

    October Energy Executive Summary updates on Vic SEC proposal and Qld Job and Energy Plan

    Cornwall Insight Australia's ‘Energy executive summary’ provides a high-level assessment of key energy market announcements from the last month. Our experts break down each development that you and your business should be aware of so you can respond to changes in the perpetually evolving energy sector. Each summary provides you...

  • Regulation and policy

    Energy Price Guarantee to end in April

    I was not surprised by the announcement from the Chancellor today (17/10) regarding the shortened time period in which the domestic Energy Price Guarantee (EPG) will apply, for all the reasons discussed in our report -  Energy Price Guarantee - Counting the Cost - and my accompanying blog. Our report...