Media Mentions
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Media Mentions
Telegraph| Rough natural gas storage site
In an attempt to help ease the energy crisis, Centrica the owners of Rough gas storage started a conversation with the Secretary of State for Business, Energy and Industrial Strategy on the potential for reopening of the site. Senior Modeller Tom Edwards, spoke to the Telegraph on why this may...
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Media Mentions
iNews| Windfall Tax
The government announced the temporary, targeted energy profits levy, or windfall tax designed to help consumers with the rising cost of energy bills. Research Partner Dr Dan Atzori spoke to iNews on why the tax may not be the most enduring solution for the energy bill crisis. Besides giving all...
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Media Mentions
Energy Live News| Quarterly Price Cap
Ofgem have proposed moving the Price Cap to a quarterly review system. Principle Consultant Dr Craig Lowrey featured in Energy Live News discussing our preliminary forecasts for an average domestic energy bill under the proposed new system. Our initial view based upon the information and draft models provided by Ofgem...
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Media Mentions
City AM| Government needs to spend £20bn on battery storage to meet renewable goals
Research from Cornwall Insight has shown the government will need to spend 18% of its total energy technologies investments on battery storage to stabilise the energy market and meet 2030 renewable goals Senior Modeller Tom Edwards spoke to City AM on why a new mix of power generation will increase...
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Media Mentions
Current+| Energy Bill announcement
The Queen’s Speech included a much-anticipated announcement that an Energy Bill will be introduced at some point over the next parliamentary session. CEO Gareth Miller spoke in Current+ on the extension of the Price Cap included in Bill The original legislation for the cap saw it time limited and with...
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Media Mentions
The Times| High energy prices here for the next decade
Cornwall Insight's research on Great Britain’s Power Market out to 2030 has shown energy prices will remain in excess of £100/MWh annually. This is significantly above the five year pre-2021 average. Senior Modeller Tom Edwards spoke in the Times on what this may mean for consumers. High power prices will...
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Media Mentions
The Guardian| Energy bills forecast to remain above £2,000
With bills already forecast to rise significantly in Winter 2022/23, Cornwall Insight released new data showing that prices looked likely to stay above £2,000 for the Summer 2023 and Winter 2023/24 price cap periods. Principle Consultant Dr Craig Lowrey spoke in the Guardian on how the government could support consumers...
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Media Mentions
Energy Live News | Third party charges contributing to increasing energy bills
Much has been spoken about the impact of wholesale prices on increasing energy bills, however third party charges, including money to compensate for supplier failures, are also contributing to the rise. Senior Analyst Laura Woolsey spoke in Energy Live News on the charges which are leaving domestic consumers paying even...
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Media Mentions
Sky News | The energy strategy will involve difficult decisions
Our Head of Relationship Development Robert Buckley explained why the changes announced in the energy strategy will take a long time and involve some difficult decisions, especially if the UK wants to reach it's target of net zero by 2050. We have an analyst team at Cornwall Insight and it...
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Media Mentions
iNews| UK businesses face 250% gas bill increase
Cornwall Insight data has shown UK businesses may see gas bills rise by 250%, putting many in danger of going under. Craig Lowrey our Principle Consultant spoke to iNews on how the government can help struggling companies with their energy bills. High Prices and volatility do not appear to be...
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Media Mentions
BBC Politics East| Energy bills and the journey to net zero
Our CEO Gareth Miller appeared on BBC Politics East to discuss the government’s net zero ambitions for 2050, and whether this was compatible with reducing current consumer energy bills. There is a long overdue debate about not the costs of this transition but how they are fairly recovered… if we...
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Media Mentions
Current+| Wholesale volatility limits EV time of use tariff uptake
The take up of EV's is happening faster than many are switching to time of use tariffs, doubling some drivers electricity bills. Lead Analyst Oliver Archer spoke in Current+ on the blocks to EV drivers switching tariffs and the limits this may put on EV take up. The wave of...
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Media Mentions
The BBC|UK embargo on Russian oil causes spike in prices
After the UK announced an embargo on imports of Russian oil as a sanction against their invasion of the Ukraine, petrol prices went up to record highs. Robert Buckley spoke to the BBC Online on how sanctions will impact the market. This is a global market and you've got to...
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Media Mentions
The Guardian |Standing Charges
Consumers are having to brace themselves for a big jump in standing order payments, to add to already significant bills. Andrew Enzor spoke in the Guardian on why charges are increasing. Regulatory changes ordered by Ofgem were already set to add around £30 to each customer’s standing charge. Since then,...
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Media Mentions
The Times| Gas prices at record high as Russia invades Ukraine
Dr Craig Lowrey spoke in the Times on the impact of the Russian invasion of the Ukraine on wholesale gas prices across Europe and the UK price cap predictions. The heavy reliance on gas imports across Europe and in the UK has left energy prices increasingly vulnerable to unstable international...
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Media Mentions
iNews| Supplier of Last Resort payments costing consumers
Costs to compensate energy companies who take on customers from failed suppliers have resulted in an average increase in domestic electricity bills by £34.36 in 2022-23. Senior Analyst Laura Woolsey spoke to iNews on what needs to change if we are to protect both consumers and companies. We need to...
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Media Mentions
The Telegraph| Electricity superhighways
Tom Edwards, Senior Modelling Consultant, spoke to the Telegraph on how new north-south power cables would give Britain a massive wind boost. At the moment there is not enough capacity to deal with all the wind projects that are in the pipeline north of the border and, although power companies...
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Media Mentions
Smart Energy International| The use of hydrogen for residential heating in Ireland
Smart Energy International wrote about our report assessing the potential of hydrogen in decarbonising residential heating in Ireland. Deva Devaraj, Modelling Analyst at Cornwall Insight, explained that while the use of hydrogen can cut CO2 emissions, there were limits to its effectiveness A tonne of CO2 emissions can be avoided annually...
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Media Mentions
City AM| Price cap hike announced
After Ofgem confirmed the price cap would be rising by 54% increasing pressure on households, Dr Craig Lowrey spoke to City AM on concerns over continuing with the cap. The cap was never meant to be a permanent solution and today has shown that rather than protecting customers, the impact...
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Media Mentions
Current+| Volatile energy prices
Current+ reported on Cornwall Insight’s Benchmark Power Curve, which forecasts that volatile wholesale energy prices could continue into 2030 and beyond. Tom Edwards, Senior Modelling Consultant, explained that low nuclear and coal assets, coupled with an overreliance on imported energy could leave the UK vulnerable to variable pricing. A greater...
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Media Mentions
iNews| Price cap forecasts
On the eve of the default tariff cap price announcement Senior Consultant Dr Craig Lowrey spoke to iNews on our forecasts for the summer and winter rises. He explained why the high price of wholesale gas and electricity was likely to trigger a significant rise in the cap and how...
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Media Mentions
Smart Energy International| Applications for the government’s CFD auction
As the applications for the government’s largest-ever Contracts for Difference auction closed, Tim Dixon, Lead Analyst, spoke to Smart Energy International on why developers were considering alternative options. A more inclusive funding round from the government has also come with high levels of competition, likely to push down bids. Newly...
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Media Mentions
The Guardian | Default tariff cap predicted to rise
With the default tariff cap predicted to rise in April, Cornwall Insight’s CEO Gareth Miller spoke to the Guardian on why the energy market needs long-term reform. He explained that rather than quick fixes to counter the record energy market highs which threaten the livelihoods of households and businesses,...
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Media Mentions
Energy Monitor | The energy crisis and net zero investment
An article written, by Daniel Atozri, Research Partner at Cornwall Insight featured in Energy Monitor. In the article Daniel discusses how the high volatility of wholesale prices and turbulence in the energy supply market could discourage investors looking for stable returns and cashflows. He explained that there is a risk...
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Media Mentions
The Guardian | Wholesale prices rise again
With wholesale prices rising yet again Anna Moss, Head of Consumer Markets explained what this would mean to suppliers already struggling. Explaining the current state of the supply market, Anna said the very high wholesale prices have caused significant distress even before winter begins. How suppliers fare is in the...
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Media Mentions
Daily Mirror | Price cap changes
Robert Buckley Head of Relationship Development spoke to The Daily Mirror about the potential changes to the price cap analysis. He explained that Ofgem was facing pressure to re-evaluate how they calculate the cap particularly recently with a spate of suppliers exiting the market. Ofgem has had a lot of...
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Media Mentions
Energy News Live | Tariff gap
Our research shows that the gap between the cheapest energy deals and price cap has shrunk to the lowest ever level featured in Energy News Live. The difference between the ten cheapest tariffs on offer and the current default tariff cap for September 2021 stands at just £11 a year, compared to...
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Media Mentions
i | Energy bills set to increase
Craig Lowrey shared his thoughts and predictions on the price cap. He discussed our forecasts for the price which predicts a £383, or 30 per cent, increase in the price cap to about £1,660. Craig explained that with wholesale gas and electricity prices continuing to reach new records and successive...
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Media Mentions
The Guardian | Net zero electricity by 2035
Tom Edwards talked to The Guardian today about the Prime Minster's plans to decarbonise the electricity grid by 2035. He explained that to meet this target it would require a massive ramp-up of wind and solar to meet the electricity demand. Data from Cornwall Insight shows that to do this it...
