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Information about us, the latest press releases that highlight key trends in the energy market, interviews and our mentions in the media. Our press team builds brand awareness within the wider market giving our experts a platform to share their analysis views on current market trends.

For media enquiries please contact v.sinclair@cornwall-insight.com

Latest Press Releases

30 September 2024
Price cap predicted to fall in January following October hike

Cornwall Insight has published a new forecast predicting a slight decrease in the January 2025 Default Tariff Cap (price cap), ahead of tomorrow’s rise to an average £1,717 a year for the final three months of 2024.

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24 September 2024
Cornwall Insight Non-Executive Director honoured in INvolve’s Heroes Role Model list

We’re delighted to announce that our non-Executive Director Monica Collings has been recognised in the 2024 INvolve’s Heroes Executives Role Model List.

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23 September 2024
Vehicle to grid charging technology could save EV drivers 70% a year

Technology that enables electric vehicle (EV) users to sell their electricity back to the grid when demand is high could reduce EV drivers’ wholesale electricity charging costs by 70% annually and earn them an average of £320 per year by 2030.

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20 September 2024
Market experts consider grid connections to be biggest barrier to renewable energy growth

A new poll of energy experts conducted by Cornwall Insight and law firm Weightmans, shows 75% of respondents think being able to get a timely grid connection is the biggest challenge to the rollout of renewables in the UK.

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16 September 2024
New data reveals Irish renewables auction fell short of critical 2030 targets

The provisional results of Ireland’s fourth Renewable Electricity Support Scheme (RESS 4) auction showed good progress. However, new analysis from Cornwall Insight reveals that this level of procurement falls short of what’s needed for the government to meet its ambitious 2030 electricity decarbonisation target.

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6 September 2024
Renewables scheme forecast to add £5 to household energy bills by 2030

New forecasts from Cornwall Insight reveal that this year’s Contracts for Difference (CfD) renewables auction is expected to add approximately £4.59 to a typical household energy bill by 2030-31.

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3 September 2024
Cornwall Insight responds to record breaking CfD auction results

The government has today unveiled the results of its Sixth Contracts for Difference (CfD) auction (AR6), with 131 projects securing 9.6GW of renewable capacity.

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27 August 2024
Business energy bills forecast to stay 70% above pre-crisis rates

Data from Cornwall Insight’s newly launched Business Energy Cost Forecast reveals that a typical small business such as a pub, restaurant or independent retailer is paying over £5,000 more a year in energy bills than prior to the energy crisis, with bills predicted to rise further from the April 2025 - March 2026 contract period.

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23 August 2024
Ofgem to raise price cap in October, with more bill increases forecast in January

Ofgem has today announced the October price cap at £1,717 a year for a typical dual fuel consumer.

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19 August 2024
Cornwall Insight release final forecast for October price cap

Cornwall Insight has announced its final forecast for the October - December Q4 2024 Default Tariff Cap (price cap) following the closure of the observation window on 16 August.

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13 August 2024
Fixed energy tariffs save an average of just £5 a year

Analysis by Cornwall Insight has revealed that the average saving from the top ten cheapest fixed rate tariffs on the open market now stands at only £5 per annum, compared to being on the price cap.

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6 August 2024
Cornwall Insight helps I Squared secure $200mn grid infrastructure investment

Cornwall Insight acted as one of the advisors in the $200mn investment by leading independent global investment manager I Squared Capital, in Aurora Utilities Limited.

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6 August 2024
Ireland’s renewable electricity target set to be missed by two years

Ireland and Northern Ireland’s ambitious goals of generating 80% of their electricity from renewable sources by the end of this decade, will be delayed until at least 2032, according to new forecasts from Cornwall Insight.

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31 July 2024
Boost in funding for renewables auction to deliver at least 4.3GW of offshore wind capacity

The government decision to increase the budget for the renewables Contract for Difference (CfD) Allocation Round (AR) 6 by £0.53bn to £1.56bn could help to secure significant additional renewables capacity compared to the original budget.

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23 July 2024
Solar and wind to account for just 44% of power generation by 2030

Cornwall Insight’s latest Benchmark Power Curve forecast shows that solar, onshore and offshore wind are currently on schedule to account for just 44% of Great Britain’s electricity generation by 2030.

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18 July 2024
Delayed closure of Eraring forecast to cut NSW power prices by 40%

New power price forecasts suggest pushing back the closure date of Eraring power station from 2025 to 2027 will cut NSW power prices by 44%, dropping from a predicted $153/MWh to $86/MWh in 2026 – a fall of $67.

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17 July 2024
Cornwall Insight’s response to the King’s Speech

The King’s speech provided some welcome clarity on the new government’s plans to accelerate the green energy transition.

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16 July 2024
Rebalancing energy policy costs crucial to delivering a low-carbon future

Cornwall Insight and the MCS Foundation are delighted to announce the release of a new report ‘Policy costs in domestic energy bills’.

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1 July 2024
Cornwall Insight refreshes its look for a net zero future

Cornwall Insight is updating its look continuing in our commitment to innovation, clarity, and excellence in the energy sector.

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28 June 2024
Price cap forecasts fall ahead of election

Cornwall Insight’s forecasts for the October-December 2024 Default Tariff Cap (price cap) have dropped to £1,723 a year for a typical dual fuel consumer.

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24 June 2024
Two thirds of renewables applications fail to get through planning stage

Between 2018 and 2023, the majority of applications to build renewable projects were unsuccessful in progressing through planning.

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10 June 2024
The Economic Viability of Decarbonisation by Electrifying Heat

A new report from Cornwall Insight, sponsored by the Confederation of Paper Industries, has outlined the challenges that energy intensive industries face in decarbonising their heat supply, typically natural gas-powered, when seeking to switch to grid-supplied electricity.

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4 June 2024
Policy vacuum on long duration storage threatens Ireland’s renewables growth

Limited financial incentives, a lack of clear targets, and market design limitations are hindering the development of long duration energy storage according to a new report from Cornwall Insight.

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3 June 2024
Ageing power plants forecast to drive up grid supply costs until end of decade

New forecasts from Cornwall Insight’s Power Curve Report show that the price paid to electricity generators to maintain a stable electricity supply in the UK will remain at least £51 per kilowatt (kW) annually until the end of the decade. Substantially higher than the current £18kW rates.

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3 June 2024
Cornwall Insight appoints new CEO and Non-Executive Director

Cornwall Insight is pleased to announce the appointment of Dan Morris the new Chief Executive Officer (CEO) and Monica Collings as a Non-Executive Director on the Board.

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31 May 2024
Shulman Advisory and Cornwall Insight forge partnership to empower Japan’s journey to net zero

Cornwall Insight and Shulman Advisory, an expert energy consultancy based in Japan, are proud to announce their new partnership aimed at advancing Japan’s journey towards net zero.

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29 May 2024
UK must double rate of EV charge point installation to meet 2030 target

New analysis from Cornwall Insight shows the UK needs to more than double the rate at which it is rolling out publicly accessible charge points for electric vehicles (EVs) if it is to meet its target of installing 300,000 by the end of the decade.

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24 May 2024
Ofgem cut the price cap but bills forecast to rise this winter

Ofgem has today announced the July Default Tariff Cap (price cap) at £1,568 a year for a typical dual fuel consumer.

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17 May 2024
Cornwall Insight release final forecast for July price cap

Cornwall Insight has announced its final forecast for the July-September Q3 2024 Default Tariff Cap (price cap) following the closure of the observation window1 on 16 May.

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16 May 2024
Policy roadblock slows growth of fixed energy tariffs

New data from Cornwall Insight has revealed that the number of fixed energy deals entering the market has stalled since March, with only 33 tariffs currently available, matching the number at the end of the previous quarter.

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25 April 2024
Coal exit and workforce shortages keep short-term power prices high

The ongoing phase-out of coal facilities and the sluggish progress in launching new renewable energy projects, partly due to shortages in the skilled workforce, are poised to push electricity prices higher until 2030 as the next tranche of coal units retires.

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18 April 2024
Irish power prices expected to drop as gas storage levels remain high

New forecasts from Cornwall Insight’s SEM Benchmark Power Price Curve indicate power prices are set to fall in 2024-25.

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11 April 2024
Hydrogen uncertainty could delay uptake of low-carbon heating

Without clear evidence on hydrogen's role in home heating, the development of other low-carbon alternatives could be delayed, according to a new report from Cornwall Insight.

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10 April 2024
Power price projections fall amid high European gas stocks

The latest projections from Cornwall Insight's Q1 Power Curve suggest that the recent drop in power prices is here to stay, extending all the way to the end of the decade.

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28 March 2024
Wholesale price hikes and Ofgem updates raise price cap forecast

New Default Tariff Cap (price cap) forecasts from Cornwall Insight reveal a rise in predictions for both the July and October 2024 price cap periods against previous forecasts.

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20 March 2024
Rewarding households for flexible energy use could transform energy systems worldwide

Global analysis conducted by Cornwall Insight has unveiled the potential of rewarding consumers for embracing energy-efficient behaviours.

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20 March 2024
Cornwall Insight responds to the ESO ‘Beyond 2030’ report

The report lays out the essential grid investments required to keep pace with the escalating electricity demand fuelled by the widespread adoption of heat pumps and electric vehicles.

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19 March 2024
Price cap predicted to fall by 14% in April

Forecasts for the April 2024 Default Tariff Cap (price cap) show a fall of 14% in the second quarter of the year, with a typical dual fuel consumer1 expected to pay £1,660 per annum, a £268 decrease from January bills of £1,928.

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12 March 2024
Cornwall Insight responds to the Government’s announcement on UK energy security

Today’s consultation gets the UK one step closer to a secure and future-proofed energy landscape

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6 March 2024
Response to the extension of the Energy Profits Levy

Increasing the duration of the oil and gas windfall tax (Energy Profits Levy) could be seen as positive for decarbonisation. Yet, without a solid transition strategy away from the UK's oil and gas dependence the potential upheaval in investment could outweigh the benefits.

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29 February 2024
Cornwall Insight named one of UK’s leading management consultancies in latest FT awards

We are excited to announce that Cornwall Insight has once again been recognised as one of the leading management consultants in energy, utilities & environment by the Financial Times

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23 February 2024
Cornwall Insight responds to the announcement of the April price cap

Ofgem has today announced the April Default Tariff Cap (price cap) at £1,690 a year for a typical dual fuel consumer. This is a 12% decrease from January’s cap set at £1,928 a year.

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16 February 2024
Cornwall Insight’s final forecast for the April price cap

Cornwall Insight has announced its final forecast for the April – June Q2 2024 Default Tariff Cap (price cap).

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30 January 2024
Cheapest fixed energy tariff £130 more than April price cap forecasts

Households choosing to sign up to any of the fixed energy tariffs currently available, could end up paying around £130 more on average than the projected April Default Tariff Cap (price cap), according to Cornwall Insight’s Domestic Tariff Report.

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22 January 2024
Price cap predictions continue to fall despite disruption in the Red Sea

Tensions in the Red Sea have failed to derail the prospect of lower household energy bills from April, as our latest forecast for the April 2024 Default Tariff Cap (price cap) indicates.

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18 January 2024
Germany to miss coal phase-out target by eight years

Germany’s energy system is not expected to fully retire coal until the end of 2038 according to new projections. This challenges the coalition government’s commitment to phase-out coal by the end of the decade.

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10 January 2024
Power prices drop in Ireland as EU increases gas reserves

Cornwall Insight have reduced their short-term power market price forecast for Ireland, with predictions for 2024 dropping by over 18%.

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9 January 2024
GB power prices to remain high despite drop in short-term forecasts

Cornwall Insight have cut their short-term power market price forecast by 12%, with average costs for 2024 now predicted to be £113 per MWh.

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9 January 2024
New FCAS markets could deliver big profits for batteries

New forecasts from Cornwall Insight Australia reveal a lucrative and enduring role for batteries in the recently launched Very Fast Frequency Control Ancillary Services (VF FCAS) markets.

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15 December 2023
Urgent measures needed to prevent vicious cycle of supplier failure and rising bills

Without intervention, suppliers and consumers could be trapped in a vicious cycle of rising bills, mounting debts, supplier failures, and even higher bills.

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6 December 2023
Drastic dip in Ireland's EV charge-point expansion

Any dip could derail the transition, and with Ireland’s EV programme at an earlier stage than many major European countries, it is essential they keep up momentum.

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5 December 2023
Supporting renewables good for consumers

The report reveals six key challenges to investment – ranging from high costs and delays to market barriers – that were echoed consistently in our conversations with industry experts.

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5 December 2023
Government needs to step up support for EVs to stop falling behind in transition

If the UK is to establish itself as a true leader in EV growth, we will need to see both sustained government funding and the cultivation of a fully supportive regulatory framework.

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30 November 2023
Fierce global competition could jeopardise investment in the UK's renewable energy sector

While short-term incentives play a role, the enduring incentives in the US and the EU threaten to divert funds away from the UK.

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23 November 2023
Cornwall Insight responds to the announcement of the January 2024 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.

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16 November 2023
Higher strike prices set stage for more competitive renewables auction

With offshore wind ASPs jumping from £44 to £73 per MWh, along with price increases for other renewable technologies, the stage may now be set for a more competitive auction.”

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16 November 2023
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.”

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16 November 2023
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.

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13 November 2023
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.”

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7 November 2023
Proactive investment and planning rule reform needed to strengthen energy network

Striking a balance between environmental protection and the urgent need to modernise our energy grid will be challenging, but we must remember that no environment will remain untouched by the impacts of a global climate crisis.

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31 October 2023
European LNG supply under pressure amid escalating competition and price surge

A multitude of factors, from weather patterns to surging demand in Asia, leave Europe open to potential gas shortages if it places its faith in another high-temperature, low-competition winter.

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24 October 2023
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.”

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17 October 2023
Reform of electricity network charges and balancing markets could fast-track energy transition

While it is true that no single solution can comprehensively tackle the challenges facing the decarbonisation of the electricity system, a combination of incremental changes to areas such as network charging can provide us with the means to make substantial improvements without the need for a protracted and costly overhaul of the energy system.”

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10 October 2023
Cornwall Insight becomes an accredited Living Wage Employer

At Cornwall Insight, our people are our most valuable asset. We firmly believe that a fair and competitive wage is not only vital for the well-being of our employees but also instrumental for our continued success.

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3 October 2023
Market reforms could shield consumers from high electricity bills

We cannot turn the clock back to a pre-energy crisis world, but there are a number of options available to build a renewables-based energy system which embraces the changes we have seen.

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29 September 2023
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.”

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29 September 2023
Ireland's EV surge outpaces most of Europe

If the country maintains this year’s impressive growth in both sales and infrastructure, we are likely to see EVs in the country become increasingly attractive for investors and consumers alike

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26 September 2023
UK EV growth trails behind most of Europe

The announcement by the Prime Minister to delay the ban of petrol and diesel vehicles has compounded the challenges casting uncertainty over the UK’s EV market. This threatens to erode the country’s momentum in shifting away from traditional fossil fuel cars.

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8 September 2023
Government's renewable targets at risk as auction sees no bids for offshore wind

The auction is likely to be a major blow to the government’s renewables plans and makes meeting 2030’s offshore wind targets more challenging.”

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24 August 2023
New power grid rules could reduce battery funding and lifespan

If the implementation of the new rule ultimately leads to fewer batteries or cuts their lifespan, the grid will be worse off than it was before the change.

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18 August 2023
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.”

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17 August 2023
Embracing off-peak electricity use and home generation could save billions in energy costs

This is a defining moment in our energy journey. Britain is moving along the path to a more electrified future, where household engagement with flexibility will enable us to reach net zero at lower cost

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27 July 2023
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.”

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25 July 2023
Cornwall Insight achieves platinum award for consultancy services

This achievement reinforces the excellent feedback we’ve received from our Net Promoter Score rating of nearly 90%, which speaks volumes about the strong relationships we have cultivated with our customers.

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25 July 2023
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.

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24 July 2023
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.”

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24 July 2023
Ireland must accelerate renewables expansion to avoid falling short on climate targets

One major challenge is increasing the energy obtained from each auction until 2030, which is no small feat. Merely maintaining the current pace will not suffice if we aim to meet the targets.

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7 July 2023
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.

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29 June 2023
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.

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28 June 2023
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

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6 June 2023
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.”

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5 June 2023
Cornwall Insight expands to central Norwich offices amidst rapid growth

We have always kept Norfolk as our home, with our HQ based in Norwich, we are thrilled to embark on this fresh chapter and move into our new offices right in the heart of the city

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25 May 2023
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.”

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22 May 2023
Staggering the shutdown of Eraring Power Station would lower impact on energy costs

By providing time for the development and integration of new energy sources, we can minimise the impact on prices and reduce reliance on costly imports during the transition.

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19 May 2023
Cornwall Insight release final forecast for July price cap

While bills are falling, the cap is still expected to remain comparatively high against historic norms, and those hoping to see a return to the kinds of bills seen at the start of the decade will be disappointed.”

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18 May 2023
Increase in Irish exports raises long-term power price projections

Since our previous forecasts, concerns regarding lower energy capacity on the continent have increased. Due to a rise in export requirements and limited import capabilities, prices are expected to remain significantly higher than pre-pandemic levels.”

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17 May 2023
Cornwall Insight release latest price cap predictions

The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts. The latest Default Tariff Cap (price cap) predictions from Cornwall Insight have been released. These are calculated from market closing prices on Friday 3 February. Figure 1: Cornwall Insight’s Default tariff cap forecasts Figure 2: \[…\]

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17 May 2023
Cornwall Insight forecasts a fall in the April 2023 Price Cap but prices remain significantly above the Energy Price Guarantee

The structure of the cap methodology is such that suppliers are implicitly encouraged to purchase the demand requirements of their customer base in advance through hedging on the forward market, meaning that suppliers will typically not have been able to take advantage of the full extent of the declines”

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17 May 2023
Cornwall Insight responds to the announcement of the January Price Cap

Extending the EPG, even at an elevated level, has resulted in the government being exposed to variables and factors over which they crucially have no control. The risk is reduced by changing the level of support but remains acute.”

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17 May 2023
Cornwall Insight release final Default Tariff Cap and EPG cost predictions prior to Ofgem announcement tomorrow

The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts. Cornwall Insight are releasing our final forecast for the January 2023 Default Tariff Cap (price cap), due to be announced tomorrow (24 November).

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11 May 2023
Increase in energy exports to the continent raises long-term GB power price predictions

The latest predictions indicate a significant increase in exports to the continent, the growth, particularly attributed to the decrease in France’s nuclear capacity and the increase in wind capacity in GB, will likely result in power costs levelling out at a higher rate, surpassing pre-pandemic levels.”

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9 May 2023
Cheaper fixed rate energy tariffs could return as price cap predictions stabilise

While consumers may feel more secure, we must not underestimate the fact that these bills remain unaffordable for many households.”

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26 April 2023
NSW power prices to surge during peak periods after Liddell power station closure

As we wait to see the effects the closure will have on power prices, one thing is for sure, NSW must stay vigilant and committed to supporting the continued expansion of renewable energy and energy storage solutions.”

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21 April 2023
Despite slow progress, Ireland has strong potential for developing a low carbon hydrogen economy

The government has expressed a willingness to release a roadmap outlining policies and regulations that, if implemented, could establish Ireland as a key player in the global hydrogen market.”

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20 April 2023
UK ranked one of the global leaders in advancing low carbon hydrogen economy

While the debate around its relevance in a domestic context continues, we believe that hydrogen could play a critical role in moving the industrial economy towards a more sustainable future.”

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13 April 2023
Government will struggle to meet 2025 smart meter target

While suppliers have made progress in increasing their smart meter rollout, if they are to keep within realistic goals, they face an uphill struggle to meet the government’s 100% target

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31 March 2023
Cornwall Insight release price cap predictions for July and October 2023

These predictions should not be taken as a signal that the problems in the energy market have been resolved, but instead used as motivation to implement an energy system which will stop us from ever again seeing the market highs that caused”

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31 March 2023
Businesses facing up to 133% electricity bill rise for fixing at market peak

Vulnerable businesses, some already struggling post-pandemic, may find reduced support levels and expensive fixed contracts a tough pill to swallow.”

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23 March 2023
Ireland leads Europe in growth of electric vehicles

Countries such as Ireland currently lower in the rankings are showing impressive year-on-year advancements, indicating a shift in interest towards the EV market.”

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22 March 2023
UK recognised as one of Europe's top countries for Electric Vehicles

Even countries currently lower in the rankings are showing promising year-on-year advancements, indicating a shift in interest towards the EV market.”

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16 March 2023
Soaring cost of capital threatens to derail expansion of renewable energy projects

If the high cost of capital cannot be compensated for by an increase in the return, the money will simply not be enough for projects to be successful”

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15 March 2023
Cornwall Insight responds to the Spring Budget

While households have general support for another three months, the expectation is clear that the vast majority of users will once again see the energy bills driven by the market from the summer.”

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15 March 2023
Cornwall Insight responds to the government's announcement on the EPG

While the government’s decision will come at an estimated additional cost of £2.6bn for the three months to July, Default Tariff Cap predictions indicate that the EPG costs will be short-lived”.

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9 March 2023
Integrated energy solutions could cut cost of UK wholesale market by 25%

Integrated energy solutions offer an opportunity to reduce costs and carbon by shifting consumption away from peak times.”

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7 March 2023
Cornwall Insight’s response to the publication of the REMA consultation summary

This first step in the REMA process has demonstrated what many in the energy industry have been saying all along, energy market reform cannot be met with small changes, there must be structural transformation to existing market arrangements.

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3 March 2023
Proposed change in capacity forecasts for National Electricity Market an important step towards accuracy

The proposed changes to the Electricity Statement of Opportunities (ESOO) report will be a step towards closer alignment between forecasts and reality. It is hoped that these actions will increase the value of the report by more accurately identifying risks and opportunities for energy storage and generation.”

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2 March 2023
Local Authorities in South East struggle to consult with communities on EV strategies

It is the obstacles faced by LA’s in their ability to engage with local businesses and residents that need addressing in the first instance. After all, if you don’t know what the demand will be, how are you supposed to plan for it?

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27 February 2023
Cornwall Insight responds to the announcement of the April 2023 price cap

While the EPG will provide a small saving from today’s announced price cap, the proposed increase in costs will still be difficult for many consumers who were relying on the scheme to safeguard their finances from unpredictable market trends.

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20 February 2023
Cornwall Insight release final forecast for the April price cap

While prices under the cap remain considerably higher than historic norms, the combination of falling wholesale prices and an increase in the EPG could see the return of competitive tariffs, and with it the chance for consumers to take back some control over their energy bills.”

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20 February 2023
Cornwall Insight named one of the FT's leading Management Consultancies

Our passionate consultants play a vital role in advising some of the most highly regarded companies on how to blaze a path towards a net zero future.”

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17 February 2023
Millions of households could switch their energy supplier in second half of 2023

If suppliers’ costs decrease and government-supported rates remain relatively high, it is likely we will see a significant revival in reasonably priced energy plans.”

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2 February 2023
Incentives for off-peak charging of electric vehicles could ease stress on the grid

The golden era of internal combustion engine cars is coming to an end, and we must start planning for the increased load on the grid from electric vehicles.

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25 January 2023
Victoria must increase transmission capacity to meet offshore wind targets

Without a guarantee that the energy generated in Gippsland will be effectively delivered to where it is needed, investment in the areas offshore wind may be impacted and, with it, the growth of the region’s renewable energy sector.”

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23 January 2023
Long-term regulatory and policy changes needed to avoid stalls to business decarbonisation

While the government and businesses recognise the challenges of continuing direct bill subsidies, policymakers may want to counterbalance the loss of bill support with other green investment incentives.”

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19 January 2023
Winter 2023-24 price cap forecasts fall further below 2022-23 EPG, but long-term prospects remain uncertain

Right now, positive gas storage and demand reductions in Europe means the key winter period of concern is looking better. But, whilst today it is steady as she goes” it is practically inevitable that forecasts will at some point change again as the market wanders about in search of its equilibrium,”

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17 January 2023
Drop in power price predictions up to 2030 but prices to remain above pre-pandemic levels for next decade

While pre-pandemic prices may, at least for the next decade, be a pipedream, a continued focus on delivering sustainable, secure, low-carbon energy will hopefully keep power prices on a steady downward trajectory.”

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13 January 2023
Delays to onshore wind investment increase long-term power prices

The increased power prices will inevitably filter through to households and businesses, who could now be faced with comparatively high bills for the next decade.”

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11 January 2023
Smart meters have potential to play critical role in energy security

If consumers reduce or shift their energy consumption away from peak periods, they may be able to save money, facilitate additional renewable generation and reduce reliance on imported energy.”

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10 January 2023
Cornwall Insight's response to the announcement of the Energy Bill Discount Scheme

The fact that costs have for a short recent period trended back to levels at the time of the invasion is welcome but does not represent a return to energy bills that businesses experienced in the years prior to the recent crisis…The EBDS as proposed will necessitate a further fuller, and potentially, painful adjustment back to market prices.”

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6 January 2023
Energy crisis sees electric vehicle charge points raise prices during peak times

Using the public network can already be complex and frustrating, and CPOs need to ensure that dynamic pricing is seen as an opportunity by customers and not simply another inconvenience.”

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4 January 2023
Drop in wholesale energy prices sees price cap predictions fall below the Energy Price Guarantee for second half of 2023

It is clear that blanket measures of bill support are not providing adequate protection for the most vulnerable and more targeted measures including social tariffs may be something for the government to consider.”

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19 October 2022
Offshore wind crucial to stabilising the UK energy market

A move towards low-carbon energy generation such as offshore wind, with its relatively low marginal costs, is the UK’s logical path away from an energy market suffering from supply-led high and unstable prices.”

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26 August 2022
Cornwall Insight comments on the announcement of the October price cap

The cap was never meant to be a permanent solution, was created for a different energy market than the one we face today and has not protected consumers from what will be incredible hardship this winter.”

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22 August 2022
Cornwall Insight release final predictions for October's Price Cap

The energy crisis is not something which can be solved with hastily pulled together, short-term policies that yield a percentage decrease here or a few months relief there. Although such policies may help to solve today’s problems, they risk being sticking plasters for a much deeper and longer-term problem. ”

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9 August 2022
Price cap forecasts for January rise to over £4,200 as wholesale prices surge again and Ofgem revises cap methodology

Rather than critiquing the methodology of the cap, it may be time to consider the cap’s place altogether. After all, if it is not controlling consumer prices, and is damaging suppliers’ business models, we must wonder if it is fit for purpose – especially in these times of unprecedented energy market conditions.”

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2 August 2022
Price cap to remain significantly above £3,000 a year until at least 2024

While the rise in forecasts for October and January is a pressing concern, it is not only the level – but the duration – of the rises that makes these new forecasts so devastating. Furthermore, given the current level of the wholesale price, this level of household energy bills currently shows little sign of abating into 2024.”

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8 July 2022
Default Tariff Cap forecast climbs further as Ofgem announcement looms

There is always some hope that the market will stabilise and retreat in time for the setting of the January cap. However, with the announcement of the October cap only a month away, the high wholesale prices are already being baked in” to the figure”

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Latest Media Mentions

23 September 2024
Business Green | Vehicle to Grid savings

To coincide with the release of our Insight Paper, commissioned by Smart Energy GB, 'Turn on, Plug in, Cash out' Business Green covered our release showing V2G technology could save EV drivers by 70%.

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20 September 2024
Times | Delays to grid connections

Following our Paper commissioned by law firm Weightmans' - our Lead Research Analyst Matthew Chadwick spoke in the Times on why grid connections were the biggest barrier to renewable energy.

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27 August 2024
Guardian | Business energy costs

Following the launch of our Business Energy Cost Forecast, the Guardian covered our exclusive showing small businesses would be paying 70% extra in electricity bills than prior to the energy crisis, with bills forecast to rise slightly next year.

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19 August 2024
Radio 4 Today | Energy price cap forecast

Following the release of Cornwall Insight's final October price cap predictions our Head of Strategic Accounts Robert Buckley spoke to Radio 4 Today on why we were predicting a rise and what consumers could expect for the year ahead.

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19 August 2024
Guardian | Energy price cap forecast

Following the release of our final October price cap forecast, our Prinicipal Consultant Dr Craig Lowrey spoke in the Guardian on why prices are rising, and concerns over the higher costs becoming the new normal.

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14 August 2024
Current+ | Fixed energy tariffs

As price cap forecasts rise, many are looking for good fixed energy deals, unfortunately these are few and far between as our Analyst James Mabey told Current+.

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7 August 2024
BBC News | NI and Republic to miss renewable energy targets

Ireland and Northern Ireland’s ambitious goals of generating 80% of their electricity from renewable sources by the end of this decade, will be delayed until at least 2032, Cornwall Insight's Irish Energy Modeller Kitty Nolan told BBC News.

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22 July 2024
Financial Times | Solar and wind to account for just 44% of power generation by 2030

Our Principal Modeller Tom Edwards spoke in the Financial Times on the challenges the government will face meeting it's 2030 power decarbonisation targets.

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28 June 2024
Energy Live News | Energy price cap forecast prior to election

Cornwall Insight’s forecasts for the October-December 2024 price cap dropped prior to the election. Dr Craig Lowrey our Principal Consultant spoke in Energy Live News on why we needed to keep the fall in perspective.

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24 June 2024
Financial Times | Renewables applications fail to get through planning stage

Lucy Dolton, our Assets and Infrastructure Manager spoke to the Financial Times on how the slow deployment of renewable energy projects, was leaving the UK substantially behind in meeting it's renewable energy targets.

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3 June 2024
The Times | High price paid to electricity generators to maintain a stable electricity supply in the UK

New forecasts from Cornwall Insight’s Power Curve Report show that the price paid to electricity generators to maintain a stable electricity supply in the UK will remain at least £51 per kilowatt (kW) annually until the end of the decade.

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30 May 2024
Business Green | UK must double rate of EV charger rollout to meet 2030 target

Following the release of our Electric Vehicle Country Attractiveness Index our Research Analyst Jamie Maule spoke to Business Green.

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18 April 2024
RTE | SEM power prices expected to drop as gas storage levels remain high

Our Principal Consultant, Lisa Foley, spoke to RTE Morning Ireland, taking a deep dive into our SEM Benchmark Power Price forecasts.

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11 April 2024
Renewable Energy Magazine | Hydrogen uncertainty delaying uptake of low-carbon heating

Without clear evidence on hydrogen’s role in home heating, the development of other low-carbon alternatives could be delayed, our Research Analyst Jamie Maule told Renewable Energy Magazine.

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10 April 2024
Bloomberg | UK Power Prices

Our new Power Price forecasts were featured in Bloomberg. The latest projections from Cornwall Insight’s Q1 Power Curve suggest that the recent drop in power prices is here to stay, extending all the way to the end of the decade. Our Senior Modeller Tom Edwards told Bloomberg that this was fuelled by ample gas stocks and a mild winter.

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25 March 2024
Current+ | Rewarding Consumers for Energy Flexibility

Following the release of our report [Integrate to Zero: Rewarding Consumers for Energy Flexibility: global market highlights, commissioned by Integrate to Zero, Senior Consultant Anna Moss featured in Current+ to discuss why rewarding consumers for energy efficient habits could be a powerful tool for change.

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21 March 2024
Irish Times| Electricity prices to fall

Following the release of our All-Island Forward Curve our Senior Modeller Sarah Nolan spoke in the Irish Times, on why higher than anticipated gas storage in Europe is forecast to push down power prices over the next year.

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6 March 2024
Independent| Energy Profits Levy

In an interview with The Independent, our Principal Consultant Kate Mulvany delved into the topic of extending the Energy Profits Levy, commonly referred to as the windfall tax.

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16 January 2024
Irish Times | Electricity prices to fall

Following the release of our All-Island Forward Curve our Senior Modeller Sarah Nolan spoke in the Irish Times, on why higher than anticipated gas storage in Europe is forecast to push down power prices over the next year.

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11 January 2024
PV Magazine| FCAS markets and battery profits

New forecasts from Cornwall Insight Australia revealed a lucrative and enduring role for batteries in the recently launched Very Fast Frequency Control Ancillary Services (VF FCAS) markets.

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30 November 2023
The Energyst | Investment in renewables

Following the release of our Insight Paper ‘Race to net zero: Rebuilding Investor confidence in the UK’ Jamie Maule was interviewed in the Energyst. He highlighted concerns about international competition potentially hampering investments in UK renewables

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28 November 2023
Times | Households paid to cut energy

Prior to the ‘Demand Flexibility Service’ being activated, our Senior Modeller Tom Edwards spoke with The Times about the rising energy demand in winter and the worries surrounding insufficient wind output to meet the additional energy requirements. Times

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17 November 2023
Independent | LNG Imports

Following the release of Cornwall Insight’s paper ‘The shifting sands of Liquified Natural Gas in Europe‘ our Senior Analyst Matthew Chadwick spoke in the Independent on why surging LNG demand in Asia, could leave Europe open to potential gas shortages. Independent

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16 November 2023
City AM | Energy bills set to rise by 5%

We released our final price cap predictions for January 2024, showing that average bills would be rising by £100. Dr Craig Lowrey our Principal Consultant explained why the UK’s reliance on energy imports, made it inevitable that energy bills would rise from current levels.

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29 September 2023
Guardian | Price Cap

Our latest price cap data showed household energy bills could climb to an average of almost £1,900 a year in the coldest months of the year. Our Principal Consultant Dr Craig Lowrey spoke on why geopolitical concerns were increasing prices Craig Lowrey Guardian

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18 August 2023
Solar Power Portal | Flexible energy report

New analysis from Cornwall Insight and Smart Energy GB, which comes from a joint report into flexible energy, was covered in Solar Power Portal. Our Senior Consultant Anna Moss spoke on how by empowering consumers to become the architects of their own energy usage

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18 August 2023
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 Today (2.43.00)

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27 July 2023
City AM | Energy Bill Support

Our Principal Consultant Dr Craig Lowrey spoke in City AM on the financial relief that the government and wider industry should be looking to provide consumers, given energy bills were predicted to stabilise well above pre-energy crisis levels.

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13 July 2023
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 cap and look at introducing \[…\]

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7 July 2023
The Times | Long-term energy forecasts

The Times featured our Benchmark Power Curve forecast, revealing that energy prices were projected to remain elevated until the late 2030s, as stated by Tom Edwards, Senior Modeller at Cornwall Insight.

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29 June 2023
Business Green | Long-duration storage

Lead Research Analyst Matthew Chadwick spoke in Business Green on the joint Cornwall Insight and DLA Piper report on energy storage – ‘Ready and waiting: Opportunities for energy storage’.

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19 June 2023
This is Money/Daily Mail| Energy prices

Wholesale energy prices are falling, however the July price cap level shows bills still remaining above historic averages, Head of Relationship Development Robert Buckley spoke to This is Money on why bills are not reducing faster. This is Money/Daily Mail

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19 June 2023
Eastern Daily Press| Cornwall Insight moving to larger offices

Our Head of Relationship Development Robert Buckley was interviewed by the EDP on Cornwall Insight relocating it’s HQ to accommodate it’s rapidly growing workforce. The move to the Atrium puts Cornwall Insight in the centre of Norwich and marks a new step in the journey of the company. EDP

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13 June 2023
The Martin Lewis Money Show| Price cap

Martin Lewis used our price cap data on his money show to help consumers make informed decisions about the new fixed rate tariffs hitting the market. The Martin Lewis Money Show – 39.50

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6 June 2023
PV Tech | CFD Scheme

Jamie Maule our research analyst and Tom Faulkner, Head of Asset & Infrastructure and Networks spoke to PV Tech on impact of inflation and the consequent rising cost ofcapital on the UK CFD scheme. PV Tech

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25 May 2023
Reuters| Price Cap

Our Principal Consultant, Craig Lowrey, was featured in Reuters, emphasising the need for cautious optimism regarding the energy crisis. While bills were projected to decrease, Craig cautioned that they would likely remain higher than pre-pandemic averages for the foreseeable future. Reuters

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25 May 2023
Radio 4 Today| Price Cap

Our Senior Consultant Kate Mulvany was interviewed following Ofgem’s announcement of the July price cap. Kate delved into the reasons behind the reduction in the price cap, shed light on the anticipated trajectory of customers’ bills in the coming months, and explored the factors that could potentially influence energy prices. Radio 4 Today (1.54.03)

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25 April 2023
Telegraph| Business Energy Bills

As support for business energy bills was scaled back by the government, our Principal Consultant Dr Craig Lowrey warned why in a worst case scenario this could see some businesses bills rise by 133%. Telegraph

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11 April 2023
New Statesman| Smart Meters and Energy Security

Our Senior Consultant Anna Moss appeared on the New Statesman’s Spotlight podcast, giving her insights on how smart meters can cut bills & boost energy security. New Statesman

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23 March 2023
Montel News| EU gas storage

Following the release of Cornwall Insight’s Insight paper on EU gas storage levels, Lead Research Analyst Matthew Chadwick featured in Montel News, to discuss the positive news that gas storage levels were rising and likely to be nearly full by September. Montel News

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20 March 2023
Politics Home| Smart Meters

Cornwall Insight collaborated with Smart Energy GB, to investigate the potential of smart meters in helping the UK stay energy secure. Our Senior Consultant Anna Moss discussed how smart meters could empower consumers to reduce overall consumption of electricity and gas and help with energy security. Politics Home

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16 March 2023
Renewable Energy Magazine | CFDs

Following our Insight paper on the implications of the rising cost of capital for the fifth round of the Contracts for Difference, Research Analyst Jamie Maule spoke to Renewable Energy Magazine on concerns rising capital could act to stifle competition and deter investors from the CFD round. Renewable Energy Magazine

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9 March 2023
Current+ | REMA Consultation

On 8th March the government published it’s REMA consultation summary. In response our Head of Assets & Infrastructure and Networks Tom Faulkner discussed why genuine reform of the energy market could only be accomplished through a structural transformation of the current market arrangements. Current+

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6 March 2023
Guardian| Business decarbonisation

In an interview with the Guardian, our CEO Gareth Miller discussed the potential negative impact of the government’s Energy Bill Discount Scheme on the net-zero goals of UK businesses. He emphasised that cutting back on business support from April could lead to decreased investment, and suggested that shifting the policy focus to tax and investment \[…\]

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22 February 2023
Sky News Online | Price cap and the EPG

Ahead of the announcement of April’s price cap, our Principal Consultant Dr Craig Lowrey cautioned that the announcement of a lower price cap by Ofgem would not prevent an increase in bills if the government proceeded with its plan to raise the EPG to £3,000 starting in April. Sky News Online

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19 February 2023
FT | Business energy prices

With the less supportive Energy Bill Discount Scheme due to replace the Energy Bill Relief Scheme from 1st April, our Head of Relationship Development Robert Buckley spoke to the FT on the steep climb in energy bills some businesses will face.

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15 February 2023
Telegraph | Switching energy suppliers

As energy prices start to come down, Cornwall Insight told the Telegraph this may mean the return of more competitive energy tariffs. Senior Consultant Kate Mulvany said that millions of families may be able to switch energy supplier and reap the benefits of savings that they had been missing out on for many years. Telegraph

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27 January 2023
BBC News Online| Falling wholesale market lowers price cap forecasts

Our first price cap predictions for 2023 were revised downward due to decreasing wholesale prices. Despite the decrease, our Principal Consultant Dr Craig Lowrey warned in a BBC article that even if energy prices remain low, government spending related to the Energy Price Guarantee will likely be passed on to taxpayers. BBC Online

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22 January 2023
City AM | Price of wind power

Senior Consultant Alex Asher warned that the fifth allocation round of the Contract for Difference scheme could see the cost of wind power generation rise, as geopolitical concerns and inflation drive up capital, which could lead to higher auction prices. City AM

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19 January 2023
Radio 4 'The Briefing Room' | Why are fuel and energy prices dropping?

Kate Mulvany, Senior Consultant at Cornwall Insight, discussed the unexpected benefits of the recent winter for the energy market and the factors contributing to the decrease in wholesale prices with David Aaronovitch and Javier Blas. BBC Radio 4’s ‘The Briefing Room’ – Listen at 06.05

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Predictions and Insights into the Default Tariff Cap

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