Latest blogs

  • Net zero corporates and ESG

    Q3 2022 All-Island Power Market Outlook to 2030 overview

    This report provides an annual overview of trends for the All-Ireland Power Market out to 2030 using outputs from Cornwall Insight’s latest forward curve for the All-Island (AI) Single Electricity Market (SEM) covering Northern Ireland and the Republic of Ireland. This publication is based on comprehensive market and asset-level power...

  • Low carbon generation

    GB Power Market Outlook to 2030 Q3 2022

    This report provides an annual overview of trends for the GB Power Market out to 2030 using outputs from Cornwall Insight’s latest Benchmark Power Curve (BPC) for the British Electricity Market covering England, Scotland and Wales. This publication is based on comprehensive market and asset-level power price modelling that delivers...

  • Regulation and policy

    One-hit wonder? Assessing the government’s business support scheme

    Subsidising the unprecedented cost of energy for both households and businesses came in at the forefront of the Chancellor of the Exchequer, Kwasi Kwarteng’s “mini-budget” last Friday. Described as “one of the biggest interventions ever made”, Kwarteng confirmed a three-step plan. Firstly, as announced on 8 September, the introduction of...

  • Low carbon generation

    MCS Charitable Foundation – Hydrogen Costs

    MCS Charitable Foundation (“MCS”) in its charity goal of decarbonising homes, heat and energy has commissioned us to calculate the costs of blue and green hydrogen, based on current and projected gas prices. This report sets out our methodology for this forecast, and our findings in terms of delivered prices...

  • Energy storage and flexibility

    Electricity network reform: where are we now?

    In its Energy Security Strategy (ESS), the UK government set out ambitions for 95% of electricity to be sourced from low carbon generation by 2030 and for the UK to have a fully decarbonised electricity system by 2035. In order to accommodate this ambition, the electricity network will need to...

  • Regulation and policy

    Energy Bill Relief Scheme – the devil is in the detail

    The new government scheme will bring significant relief to many businesses and public sector organisations as they try to navigate the unprecedented energy rises. Economically it was important that government took action.The reduction in energy costs will be substantial. As a proxy and noting the challenge of calculating a homogenous...

  • Regulation and policy

    The certainty of uncertainty

    Energy prices came off at the end of the week. There is a cautiously positive sentiment that having coped with the Nord Stream 1 shutdown without price carnage and with European storage stocks on target, the August peaks are in the rearview mirror. But, whilst it is very positive that...

  • Business supply and services

    The Energy Price Guarantee, a Path Through Stormy Seas?

    Upon taking office on 6 September 2022, the first piece of major policy introduced by the new Prime Minister, Liz Truss, is the Energy Price Guarantee (EPG), announced on 8 September 2022. The EPG is a series of support measures targeted at protecting domestic and business consumers from soaring energy...

  • Energy Market Design

    Reform in haste, repent at leisure: squaring electricity market reform with investor confidence

    In April 2022, the attention in the market turned to REMA, a welcome opening of a necessary conversation on market reform. The risks here have always been about process as much as outcome and balancing interests and objectives. I penned this piece urging consideration is given to the time and...

  • Business supply and services

    Great expectations – the complexity of delivering on the promise for business energy costs

    Stories of hardship to businesses from rising energy prices have become much more prevalent in recent weeks as the critical 1 October date for new supply contracts looms. Our recent insight paper Weathering the storm: Mitigating the impact of energy price hikes for businesses set out some of the reasons...

  • Power and gas networks

    Gas DSR reforms ahead of winter 2022-23

    National Grid has recently carried out a review of the Gas Demand Side Response (DSR) voluntary curtailment mechanism through July and August. The Gas DSR allows shippers to offer a consumption curtailment service to National Grid Gas (NGG) during periods of acute gas supply constraint called a Gas Deficit Emergency...

  • Announcement

    Australian FCAS power price trends

    This report provides power price trends for the technology enablement as a percentage of total market share, using outputs from Cornwall Insight Australia’s latest Frequency Control Ancillary Service price curve (FCAS), published on 30 August 2022. We hope this information is of value-add to you and your business. Please don't...

  • Business supply and services

    Our initial response to the government energy announcement

    We welcome the government’s objective to address the affordability of energy for both domestic and business consumers in the UK. The policy announcements made today will alleviate some of the hardship consumers have been concerned about for many months.   On the household side of the equation, industry thinking is...

  • Energy Market Design

    How does REMA impact energy generation, flexibility and consumers?

    The Review of Electricity Market Arrangements (REMA) is the largest review programme of GB electricity market arrangements for a generation. It comes at a time when European energy markets are suffering extreme turmoil. Depending on the outcome there could be significant implications for generators, flexibility providers, and, indirectly, consumers. REMA...

  • Business supply and services

    Our thoughts on the energy crisis and interventions that may help

    Blog | Short-term energy market interventions There is considerable concern about the availability and price of energy for this winter and those that follow.  Cornwall Insight has been contributing to the policy discourse through our widely-referenced domestic Default Tariff Cap analysis.  Read here The Times | Cornwall Insight suggests power plant gas subsidies could help...

  • Energy Market Design

    Short-term energy market interventions

    There is considerable concern about the availability and price of energy for this winter and those that follow.  Cornwall Insight has been contributing to the policy discourse through our widely-referenced domestic Default Tariff Cap analysis.  As prices continue to rise above what were considered unbelievable levels until recently, the signal from the market could not...

  • Home supply and services

    Cornwall Insight comments on the announcement of the October price cap

    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/ The rise in the Default Tariff Cap (price cap) was unfortunately inevitable, as UK bills continue to be the victim of an unstable and unpredictable global market. While there is still some time until...

  • Home supply and services

    Highlights from our Energy Supplier Compliance webinar

    As part of our Energy supplier compliance portal service, we run a webinar every 6 months which looks at key updates.    Our latest webinar looked back at the decisions made under Ofgem’s financial resilience plan. This included strengthening milestone assessments and introducing additional reporting requirements. It also decided on the short-term interventions...

  • Home supply and services

    What is the price cap?

    We release our price cap forecasts in the hope that we can encourage policy change.  We have created this infographic to help people understand the price cap and how we make our predictions. We would also like to clarify that we cannot influence Ofgem to change the amount of the price cap.  You...

  • Energy Market Design

    REMA: electricity market design choices

    Electricity markets will serve as the foundation for the future GB energy system.  This article examines some of the market design decisions that will be considered by the Review of Electricity Market Arrangements (REMA). Market design goals At its most simple, a well-functioning market will attract enough potential “buyers” and...

  • Home supply and services

    Cornwall Insight release final predictions for October’s Price Cap

    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/ Cornwall Insight are releasing our final predictions for October’s Default Tariff Cap (Price Cap) prior to Ofgem’s announcement on Friday 26th August. Predictions show a typical household1 will be paying £3,554 equivalent per year...

  • Low carbon generation

    Head to Head: CfD vs RESS

    2022 has been busy for renewable developers in Great Britain and Ireland, with both the fourth allocation round of the Contracts for Difference (CfD) scheme and the second round of the Renewable Electricity Support Scheme (RESS) concluding this summer. We compared the latest results of the CfD and RESS schemes...

  • Low carbon generation

    Energy System Reform: Ofgem shares plans for Britain’s energy system

    Against the backdrop of record high and volatile energy prices, Ofgem set out on 8 July its view on key aspects of the GB energy system where it considers significant reform is required to deliver a resilient, low cost, low carbon energy sector. Recent developments in the energy market, such...

  • Commercial and market outlook

    Energy Market Alerts provide latest updates in a complex market

    Cornwall Insight Australia summarises all the essential facts in our Energy Market Alerts, designed to keep you up to date with all the latest developments in the market. The energy market is changing so fast that our Alerts will ensure you have the facts to hand when you need them....

  • Energy Market Design

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

    The Review of Electricity Market Arrangements (REMA) is intended to discuss and decide on appropriate market arrangements for 2035 in a Net Zero, low marginal cost, renewables-dominated market. It is unlikely it has the scope or capability to intervene in the market arrangements ahead of this winter. Therefore, some new interventions...

  • Low carbon generation

    PSO Levy 2022/23: RESS to the Rescue

    This week we look at how renewable generation is putting money back in consumers’ pockets - a trend which, based on the power price forecast from our All-Island Forward Curve report, is expected to continue until 2027. Last week the Commission for Regulation of Utilities (CRU) published their final decision...

  • 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...

  • Business supply and services

    The energy crisis affects businesses as well as households

    Yesterday morning we issued our updated forecasts for the Default Tariff Cap through to the end of 2023. They make for grim reading: from 1 October 2022 the Cap will average £3,500/year equivalent or so for at least a year, unless there is a collapse in the wholesale energy markets....

  • 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...

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