Business supply and services

  • Business supply and services

    Are Falling Wholesale Energy Prices Good News For The Wider Economy?

    A lot has happened in the last year. Challenging trading conditions across the economy have been exacerbated by extremely high energy prices.  In this week's 'Chart of the week' we look at the business landscape using trends from a range of economic indicators.  

  • Business supply and services

    Average gas and power prices for SMEs declined sharply in February

    From late 2021, small and medium enterprises (SMEs) looking to secure a fixed energy contract would have seen steep increases in their energy bills, driven primarily by price volatility in the wholesale energy markets. In this week’s 'Chart of the week', we discuss the changes in prices for SMEs up...

  • Business supply and services

    Supplier of Last Resort true-ups confirmed by Ofgem

    Ofgem has published its decision documents confirming the Supplier of Last Resort (SoLR) true-up claims submitted by energy suppliers and the amounts it has agreed as part of their SoLR levy claim. In this week’s 'Chart of the week', we review the SoLR true-up claims.

  • Business supply and services

    Concentration and consolidation in the I&C gas market

    Throughout 2021 and well into 2022, energy suppliers operating in the business gas market were contending with a number of challenges, including reduction in energy demand from businesses as recovery from COVID-19 ‘lockdowns’ was ongoing and weathering volatile wholesale prices. In this week’s 'Chart of the week', we discuss the...

  • Business supply and services

    The first month of the EGL against a backdrop of falling wholesale prices

    The end of January means the end of the first month of the Electricity Generator Levy (EGL). First announced as part of the Autumn 2022 budget, the EGL places a 45% tax on generation receipts above £75/MWh for non-Contracts for Difference (CfD) renewable and nuclear generators until March 2028. In...

  • Business supply and services

    Help has arrived? A review of the government’s new Energy Bills Discount Scheme

    Over the past year, the combination of volatile wholesale energy prices, economic recession, and both political and market uncertainty, have necessitated government intervention in UK energy markets to offer protection and stability to both domestic and non-domestic UK energy consumers. In this week’s 'Chart of the week', we further review...

  • Business supply and services

    Newly announced Energy Bills Discount Scheme scales back support for businesses’ energy bills 

    On Monday 9 January, the outcome from the long-anticipated review of the current Energy Bill Relief Scheme (EBRS) for businesses was published. With the EBRS due to end on 31 March 2023, the government announced a new Energy Bills Discount Scheme (EBDS) as its one-year replacement to run from 1...

  • Business supply and services

    Sectoral spread of energy price hikes in GB

    We recently published a report exploring the impact of price increases and the approaches which companies are already taking to mitigate their exposure. In this week's 'Chart of the Week', we discuss some of the key findings from this report.

  • Business supply and services

    REGO prices end their upwards march for FMD21-22

    In this 'Chart of the week', we explore some of the latest price trends for REGO certificates for use in the 2021-22 Fuel Mix Disclosure (FMD) year, which builds on last week’s Chart of the Week which showed how REGO-backed supply has remained important to business energy customers.

  • Business supply and services

    REGOs still highly valued by business customers in 2021

    Renewable energy continued to be a focal point in Cornwall Insight’s 2021 Third Party Intermediary (TPI) satisfaction survey. The annual survey addressed the importance of a supplier’s green credentials for the second year in a row, finding that there is shifting interest in green energy from non-domestic customers and that...

  • Business supply and services

    A GoO-ey end? Green power import certificates poised for removal

    On 29 March, BEIS published a consultation seeking views on the removal of Feed in Tariff (FIT) and Contracts for Difference (CfD) scheme cost exemptions for green imported electricity and the recognition of EU Guarantees of Origin (GoOs) in GB altogether. Our 'Chart of the week' shows historic GoO imports...

  • Business supply and services

    Balancing costs exceed £200mn for three consecutive months

    High underlying commodity and carbon costs haven’t only impacted costs in the wholesale market. From April 2021 to the end of October 2021, balancing costs on the electricity transmission system have totalled £1.29bn. This represents a £301.88mn (30.6%) increase in costs over the same period in 2020, where total costs...

  • Business supply and services

    Uptake of energy efficiency measures predicted to increase in the SME market

    Cornwall Insight recently conducted research as part of its 2021 TPIs in the Business and Industrial Supply Markets report. The report shows that TPIs operating in the SME market note low uptake of energy efficiency measures from their clients currently. However, there is an expectation that this will increase in...

  • Business supply and services

    SMEs (Small and medium businesses) experience record breaking prices

    In Q321 the average SME gas contract was priced at the highest value since we started tracking propositions in 2012 (4.98p/th for 1-year acquisition contracts that assume a 25MWh annual consumption). Our Pricing in the SME Gas/Power Markets reports also shows SME electricity contracts seeing record highs, priced at 19.95p/kWh...

  • Business supply and services

    SME’s interest in renewables driven by corporates

    Despite the challenging year for businesses, we recorded growing interest in renewable electricity amongst businesses and Third Party Intermediaries (TPIs) according to our TPI Satisfaction Survey for 2020. This has been a focus for Industrial and Commercial's (I&Cs) over the last two years driven by corporate social responsibility goals, particularly...

  • Business supply and services

    Chart of the week | Record breaking energy prices seen in the SME market

    In Q1 2021 we reported that the average SME electricity contract was priced at 17.95p/kWh (for 1-year acquisition contracts at the PC3-6MWh consumption point). This is the highest value since we started tracking propositions in 2012. We also recorded the fifth-highest figure for 25MWh gas contracts at 3.82p/kWh from our...

  • Business supply and services

    Chart of the week | Large suppliers’ business market share reduces

    The publication of our Business Gas and Electricity Market Share Surveys for Q420 (with a reporting date of 31 October) has highlighted the changing dynamic of the business supply market as competitive pressure has reduced the market share of the traditional six large suppliers. In this 'Chart of the week',...

  • Business supply and services

    Chart of the week | Prices rise for SMEs as energy demand grows

    Over the last six months our Pricing in the SME Gas and Power Markets reports have tracked a recovery in SME prices, following 5 consecutive quarters of price reductions. In this Chart of the week, we look at the trends in energy prices in the SME sector and how they...

  • Business supply and services

    Chart of the week | TPIs hit by the COVID-19 pandemic

    Third Party Intermediaries (TPIs) operating in the business market in 2020 have experienced significant changes due to the COVID-19 pandemic. Cornwall Insight’s 2020 Annual TPI report published earlier this week found that when negotiating business energy contracts in 2020, TPIs could target a £335mn/year revenue pool, an 18% decrease on...

  • Business supply and services

    Chart of the week | COVID-19 costs energy suppliers over £1bn

    The impact of COVID-19 is starting to be reported by listed energy companies. Centrica, Iberdrola, E.ON Group, Drax Group and ENGIE Group have all commented on the impact of COVID-19, including the costs of selling back overhedged volumes caused by the pandemic. These suppliers collectively are important competitors in the...

  • Business supply and services

    Chart of the week | E.ON UK and npower: When 2 become 1

    Recent acquisitions are changing the face of the non-domestic supply market according to our Business Market Share Survey for Q220 (with a reporting date of 30 April 2020). In this 'Chart of the week' we look at what the market will be like once the E.ON UK and npower merger...

  • Business supply and services

    Australian Chart of the week | Retail applications on track for another year of big growth

    Its been 8 months since we last took a look at the new registrants in the retail electricity sector in Issue 2 of our Chart of the Week. This week we look at whether the growth in retail licence applications has continued and what sectors new retailers are focusing on....

  • Business supply and services

    Chart of the week | Energy demand falls amid coronavirus outbreak

    Since the government imposed restrictions on movement in the UK on 24 March, demand for power has fallen around 11% March 2019 levels. Comparatively, demand for gas has been less affected due to the dominance of the domestic heating market on gas demand. In this Chart of the week, we...

  • Business supply and services

    Chart of the week | Customers drive TPIs to go green

    In 2019, large consumer-facing businesses led Third Party Intermediaries (TPIs) to increase their valuation of green power contracts backed by Renewable Energy Guarantees of Origin (REGOs). In this weeks Chart of the Week, we look at Cornwall Insight’s 2019 TPI Satisfaction Survey. We also discuss the shift in I&C TPI valuation of...

  • Business supply and services

    Australian Chart of the week | Competition on the rise in residential retail electricity supply

    We have previously noted a range of new entrants into the electricity retail spaces for small business and commercial and industrial (C&I) supply. This Chart of the week takes a closer look at how competition is developing at a national and local level.

  • Business supply and services

    Chart of the week | TPIs earn 20% more from business energy deals

    This week’s Chart of the Week is taken from our recent Third Party Intermediaries (TPIs) in the Business and Industrial Supply Markets report. The chart explores the revenues available to SME and I&C TPIs from negotiating business energy contracts and highlights that in 2019 TPIs could target a significantly larger revenue pool compared to 2018.  In...

  • Business supply and services

    Australian Chart of the week | I think I can, I think I can: Can new retailers make it in the NEM?

    Electricity retail registrations have exploded since 2016. In this time, the Australian Energy Regulator awarded 30 new electricity retail licenses. This represents an increase of 70% since 2016. In this week's Chart of the week, we look at the annual market entrants from 2012. We also explore the benefits of...

  • Business supply and services

    Australian Chart of the week | Retail markets: the biggest shake-up since deregulation?

    The energy retail sector in Australia is undergoing a significant shake-up. This is largely due to regulatory intervention, ongoing rule changes and market entry. Consequently, there have been concerns over retailers who charge disengaged households and small businesses higher rates and generally rising retail prices. As a result, two default...

  • Business supply and services

    Chart of the week | Price is king for TPIs

    Over the last 18 months, suppliers of all sizes have been under pressure to reduce costs, resulting in increased use of automation, streamlined back office functions and in some instances a reduced product offering. These external pressures have led many suppliers to service the TPI channel in a different, and reportedly...

  • Business supply and services

    Chart of the week | Business TPIs need to evolve to maintain pre-eminence

    Third-party intermediaries (TPIs) are now firmly established as the primary route to market in the business energy markets. This week's Chart of the week looks at the results of the TPIs in the Business and Industrial Energy Supply Markets survey. The survey found that two-thirds of suppliers (67%) ranked TPIs as...