Cornwall Insight responds to the announcement of an Energy Bill in the Queen’s Speech

The Queen’s Speech this week included a much-anticipated announcement that an Energy Bill will be introduced at some point over the next parliamentary session.

The Bill is a logical conclusion of policy development in the period since the net zero commitment was made in the summer of 2019. It accommodates support for the government’s preferred production technologies alongside more recent plans to address security of supply. Notably, the Bill will formalise the creation of the Future System Operator (FSO).

To keep reading, please log in to your account or sign up for free

Related thinking

Energy Market Design

Can we fix the wholesale energy market this winter to lower prices and should we want to? 

There’s a lot of debate on what might be done outside the energy market to relieve consumer bills. We don’t have much to add there, but we have been thinking and chatting around the place about whether temporary fixes could be made to the wholesale market design that would result...

Home supply and services

Price cap forecasts for January rise to over £4,200 as wholesale prices surge again and Ofgem revises cap methodology

If you are a consumer seeking support with their energy bills, please read our blog here: https://www.cornwall-insight.com/support-for-consumers-concerned-about-rising-energy-bills/ Our new forecasts for the January Default Tariff Cap have risen by over £650(1), meaning a typical household is now predicted to pay the equivalent of £4,266 a year for the three months to...

Regulation and policy

The changing compliance landscape

In recent months, Ofgem has been increasing its engagement with suppliers to ensure compliance with their supply licences and to deliver more resilient business models. This has been evidenced through a number of actions, such as stress testing suppliers and introducing additional reporting requirements, under the scope of the regulator’s...

Home supply and services

Price cap to remain significantly above £3,000 a year until at least 2024

Our latest forecasts for the Default Tariff Cap have shown a typical household’s energy bill will be well over £3,000 a year for the next 15 months, with the average bill over Summer 2023 (Apr-Sep) sitting at £3,649 – just over £300 per month. We have also updated the predictions...

Energy storage and flexibility

National Grid ESO’s ‘early view’ winter report 2022/23

We have published an alert on National Grid Electricity System Operator's Winter 2022/23 early view report.  The ESO considers that it is important for industry to be provided with a rough understanding of the situation to come, through the early view report. It is operating under the assumption that the peak...

Low carbon generation

Diversifying the Irish Energy Mix, could hydrogen be the answer?

The recent news that Nord stream has resumed flows into Europe will ease some of the fears of supply shortages heading into the winter for us all and have associated knock-on effects pricewise. Although back flowing, the EU commission on Wednesday urged countries to cut gas use by 15% over...

Low carbon generation

What’s in store? Our analysis of the co-location development pipeline

Amid underlying volatility in wholesale power prices, opportunities for access to wider flexibility revenue streams, and the impact of price cannibalisation, the case for co-location for renewable energy assets is growing. As part of Cornwall Insight’s Renewables Pipeline Tracker service, a case study is included in each report’s release based...

Commercial and market outlook

Capacity, reform, and unlawful strategies: 5 things that happened yesterday

Capacity, reform, and unlawful strategies: yesterday was a busy day for energy geekery. The developments encapsulate the shorter and longer term challenges and uncertainties present in the energy market presently: Read the full article here