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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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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

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

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

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.

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

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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

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.

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.

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.

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

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.

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.

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

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.

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

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.

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

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.

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.

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.

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

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.

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.

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

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.

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.

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.

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

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.

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.”

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.”

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.

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.”

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.

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.

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.”

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.”

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.

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.

While the rise is small, it shows we cannot just assume prices will continue their fall and eventually reach pre-pandemic levels.”

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

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.

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.”

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.

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.”

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

The wholesale market remains the main driver of bills, and unfortunately there is no immediate prospect of prices there returning to historic averages.”

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.

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.

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.”

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.

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.

While typical household predictions may provide some insight for consumers, households are still facing the challenge of bills that are well above historic levels.

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

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.”

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

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.”

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.

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.”

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.”

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: \[…\]

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”

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.”

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).

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.”

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

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.”

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.”

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.”

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

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”

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

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.”

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

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”

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.”

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”.

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

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.

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.”

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?

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.

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.”

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.”

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.”

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.

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.”

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.”

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,”

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.”

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.”

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.”

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.”

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.”

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.”

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.”

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.”

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. ”

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.”

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.”

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”

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%.

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.

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.

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.

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.

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+.

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.

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

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.

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.

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.

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

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

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.

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.

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.

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.

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.

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.

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.

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

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

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

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.

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

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

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)

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.

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 \[…\]

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.

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’.

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

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

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

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

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

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)

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

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

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

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

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

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+

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 \[…\]

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

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.

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

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

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

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