• Press Releases

  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. The latest NEM Benchmark Power Curve report from Cornwall...

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  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. Power prices are expected to drop from an average €106 per MWh during the previous 2023-24 fiscal year, to €91 per MWh over the 2024-2025 fiscal year, marking a 14% decrease....

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  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. The Hydrogen Index1 report urges the UK government to ramp up research to conclusively determine whether hydrogen is a viable option for domestic heating,...

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  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. The new data shows a striking decline in projected prices, which bodes well for both households and businesses, offering...

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  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. Predictions for both quarters have risen by around 7%1, with a typical household2 now expected to pay £1,560 from July and £1,631...

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  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. Launched at this year’s Distributed Energy Show, the report - Integrate to Zero: Rewarding Consumers for Energy Flexibility: global market highlights – written in partnership with Integrate to Zero, examines a wide array...

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  Cornwall Insight responds to the ESO ‘Beyond 2030’ report

  Tom Faulkner, Head of Assets & Infrastructure and Networks at Cornwall Insight: “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. “With our sights set on a secure, low-carbon electricity grid...

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

  Kate Mulvany, Principal Consultant, at Cornwall Insight said: “Today’s consultation gets the UK one step closer to a secure and future-proofed energy landscape. Bolstering national power infrastructure and ensuring energy security will not only help insulate future bill-payers from global uncertainties, but also foster a sustainable path towards net zero....

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  Response to the extension of the Energy Profits Levy

  Kate Mulvany, Principal Consultant at Cornwall Insight said: “Increasing the duration of the oil and gas windfall tax (Energy Profits Levy) could be seen as positive for decarbonisation if the resulting profits are used to deliver the UK's net zero plan. Yet, without a solid transition strategy away from the...

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  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. This is the fifth time Cornwall Insight has featured on the list, which is based on feedback from clients and peers...

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  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 consumer1. This is a 12% decrease from January’s cap set at £1,928 a year. A healthy flow of gas across the Atlantic, coupled with a relatively mild winter, has seen...

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  Cornwall Insight’s final forecast for the April price cap

  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 has announced its final forecast for the April – June Q2 2024 Default Tariff Cap (price cap) following the closure of the observation window1 on...

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  Cornwall Insight help Zenobē secure £147 million battery storage investment

  Cornwall Insight acted as an advisor for Zenobē in securing a £147 million project finance debt for its Kilmarnock South battery storage project. This 300MW/600MWh project marks a key point in Scotland’s renewable energy journey, promising to reduce the amount of wind farm curtailment and avoid CO2 emissions by 3.4...

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  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. Our latest price cap forecasts1 show the cap dropping by 16%...

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  Cornwall Insight key advisor in landmark Toucan Energy portfolio sale

  Cornwall Insight acted as a key advisor in the successful sale of Toucan Energy's solar PV portfolio. The historic transaction marks the largest operational solar PV portfolio ever to change hands in the GB market. Boasting 53 solar PV assets, with a combined capacity of 513MW, the sale represents a...

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  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. Predictions have fallen £40 p/a since December, with a typical dual fuel consumer1 now expected to pay an...

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  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. The modelling, from Cornwall Insight’s North West Europe Benchmark Power Curve, casts doubt on Germany’s energy...

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  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%. This could bring welcome relief to homes and businesses struggling with soaring energy costs. Higher than anticipated gas storage levels in the EU have lowered fears of shortages this winter....

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  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 MWh1. The decrease in electricity price predictions is attributed to the higher than expected gas reserves in Europe, lowering fears of shortages this winter. The data, included...

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  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. The price forecasts show participants in the Raise-1 market are predicted to make an average of $9.64/MW/hr out to 2026 and $10.95/MW/hr in...

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  Cornwall Insight key commercial adviser on sale of Red John Pumped Storage Hydro scheme

  Cornwall Insight played a crucial role in advising Intelligent Land Investment (ILI) on the successful sale of the in-development Red John Pumped Hydro Storage Asset to Statkraft. With its 450MW capacity Red John is poised to be a significant contributor to the UK's journey to a net zero electricity system....

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  Price cap predicted to fall by 14% in April

  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. 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...

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

  In response to Ofgem’s announcement of a consultation on recovering bad debt, Dr Matthew Chadwick, Lead Research Analyst at Cornwall Insight said: “The energy price crisis has left millions of households struggling to pay their bills, even as prices have begun to fall. With government support all but ended for...

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  Drastic dip in Ireland’s EV charge-point expansion

  Ireland's year-on-year growth in publicly accessible charge-points for Battery electric vehicles (BEVs) has seen a substantial drop in Q323, falling by 111 percentage points compared to Q322. The data analysed for Cornwall Insight and law firm Shoosmiths’ Electric Vehicle Country Attractiveness (EVCA) Index1, has shown that despite previously holding the...

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  Supporting renewables good for consumers

  A new Cornwall Insight and RenewableNI report sets out how supportive Department for the Economy (DfE) policy can reduce the renewable electricity cost for consumers. ‘Supporting Renewables - Understanding policy impact on the cost to the consumers of renewable development in Northern Ireland’ investigated how DfE’s renewable electricity support scheme...

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

  Setbacks in crucial support programs like the Rapid Charging Fund, cuts to electric vehicle (EV) passenger car purchase incentives for most consumers, and a rollback of petrol and diesel phase-out targets have seen the UK drop behind much of Europe in the race to grow EV fleets. The data analysed...

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  Fierce global competition could jeopardise investment in the UK’s renewable energy sector

  Growing competition for investment in renewable energy projects from the US and the EU, could divert crucial financing away from the UK and hinder the nation's journey to net zero, according to recent analysis by Cornwall Insight. The report ‘Race to net zero: Rebuilding Investor confidence in the UK’ highlights...

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  Cornwall Insight responds to the announcement of the January price cap

  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. Ofgem has today announced the January Default Tariff Cap (price cap) at £1,928 a year for a typical dual fuel consumer1. This is a 5% increase from...

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  Higher strike prices set stage for more competitive renewables auction

  Commenting on the publication by the government of the rise in Administrative Strike Prices (ASPs) for the Contract for Difference Allocation Round 6: Tim Dixon, Senior Consultant, at Cornwall Insight: “The government's decision to boost strike prices ahead of next year’s renewables auction is a significant enhancement that will be...

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  Cornwall Insight’s final forecast for the January price cap

  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 has announced its final forecast for the January – March Q1 2024 Default Tariff Cap (price cap) following the closure of the observation window1 on...