Press Releases

  • Press Releases

    Government’s renewable targets at risk as auction sees no bids for offshore wind

    The government has today unveiled the results of its fifth Contracts for Difference (CfD) auction (AR5), securing 3.7GW of renewable capacity. This is a marked reduction from last year’s secured capacity of 11GW, with government renewables targets potentially at risk. The auction, which saw developers able to bid on a...

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    Cornwall Insight’s response to the announcement of the October price cap

    Ofgem has today announced the October Default Tariff Cap (price cap) at £1,923 a year for a typical dual fuel consumer1 for the final three months of 2023. This is based on the regulator’s current definition of an average household's gas and electricity use2, and shows a 7% decline from...

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    New power grid rules could reduce battery funding and lifespan

    New rules proposed by the Australian Energy Market Operator (AEMO) could reduce the revenue streams available to batteries and cut their lifespan. The proposed change would require batteries with a capacity of 5MW or greater to respond automatically to small changes in power system frequency, known as a Primary Frequency...

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    Cornwall Insight’s final forecast for the October 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    The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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 October – December Q4 2023 Default Tariff Cap (price cap) following the closure of the observation window1 on...

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

    New analysis from Cornwall Insight and Smart Energy GB has revealed the substantial cost-saving potential of household flexible electricity initiatives such as time-of-use tariffs, smart meters, solar PV, and batteries. The data reveals national wholesale and system electricity costs could be cut by an annual £4.6bn in 2030 and £14.1...

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    Cornwall Insight advises LDC on investment in UniHomes

    Cornwall Insight has advised leading private equity investor LDC on its minority investment in market leading student accommodation advertising platform, UniHomes, as the business continues its expansion across the UK. Based in Sheffield and operating in 41 locations nationwide, UniHomes helps students find their perfect university ‘home from home’, by...

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    Mixed outlook for energy bills as new cap announcement looms

    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 unveiled its latest forecasts for the Default Tariff Cap (price cap) covering the period October 2023 (Q423) to September 2024 (Q324). The predictions, calculated...

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    Cornwall Insight achieves platinum award for consultancy services

    We are delighted to share that Cornwall Insight has been honoured with the prestigious platinum award in the Consultancy.uk rankings for energy advisors. This achievement highlights the exceptional contributions we have made to the energy sector and underscores the expertise we have in our consultancy services. Volker Beckers, Chair of...

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    Households unlikely to benefit from fixed tariffs over the coming year

    Data analysed by Cornwall Insight has shown that households choosing to sign up to any of the fixed energy tariffs currently available would be unlikely to experience savings in their energy bills over the next year when compared to Cornwall Insight’s forecast price cap rates1. As energy prices continue to...

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

    Analysis conducted by Cornwall Insight Ireland has unveiled that Ireland must significantly increase its renewable’s procurement efforts if it is to meet its ambitious Climate Action Plan 2023 (CAP23) targets. Cornwall Insight’s All-Island forward curve analysis indicates that an additional capacity of nearly 1GW must be secured at every eligible...

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    New forecast warns power prices to remain elevated until late 2030s

    Cornwall Insight has unveiled its latest GB Power Market Outlook to 2030, revealing that power prices in Great Britain will not shift below pre-2022 levels until the late 2030s. The report cites the surging demand for power as the main driver behind this trend, as the move to electric heating...

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    Average price cap forecasts fall as Ofgem revises definition of typical energy consumption

    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. Prior to the upcoming introduction of the July Default Tariff Cap (price cap), Cornwall Insight is unveiling its latest predictions. Starting from October 2023, the forecast stands...

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    UK sees 70% rise in public charge-points for electric vehicles over past year

    The UK now has one publicly accessible charge point for every 11.2 Battery Electric Vehicles (BEV) on the road, having seen a remarkable 70% jump in charge points over the past year. The figures, utilised in the calculation of the Electric Vehicle Country Attractiveness (EVCA) Index by Cornwall Insight and...

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    Development of long-duration energy storage vital to achieving net zero targets

    A new report, jointly authored by Cornwall Insight and global law firm DLA Piper, has highlighted the urgent need for financial incentives to speed up the development of long-duration energy storage systems, which are crucial for meeting the UK’s ambitious net zero goals. As more renewables enter the market, energy...

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    VNI West Project could delay the retirement of coal generators

    Analysis conducted by Cornwall Insight Australia reveals that certain coal plants in New South Wales (NSW) may benefit from delaying their retirement, following the release of new plans for the VNI West transmission project. The 'conclusions report' from the Australian Energy Market Operator (AEMO) indicates that under the preferred scenario...

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    Cornwall Insight expands to central Norwich offices amidst rapid growth

    Cornwall Insight, is delighted to announce its relocation to larger offices in the heart of Norwich, underscoring the company's remarkable growth in recent years. Following five successful years at Rose Lane, during which we were honoured with the Norfolk Business Award’s Business of the Year in 2021 and the Outstanding...

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    Cornwall Insight responds to the announcement of the July 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. Dr Craig Lowrey, Principal Consultant at Cornwall Insight said: “Ofgem’s announcement that July’s Default Tariff Cap (price cap) will fall to an average1 £2,074 p/a, will undoubtedly...

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

    New modelling from Cornwall Insight Australia reveals that a staggered retirement of the Eraring power station would reduce the impact on energy prices in New South Wales (NSW) and lower net imports. Unlike previous plant closures, Eraring will retire all four units simultaneously, with a scheduled shutdown of August 2025....

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    Cornwall Insight release final forecast for July 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 Q3 2023 Default Tariff Cap (price cap) following the closure of the observation window1 on 18 May. Based...

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    Increase in Irish exports raises long-term power price projections

    Cornwall Insight has raised its long-term predictions for power prices in Ireland as a projected rise in interconnector exports and reduced imports pushes up demand and costs. Ireland’s first 2023 - ‘All-Island Power Market Outlook to 2030’ – which looks at data modelled in the first quarter of the year,...

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

    Cornwall Insight's latest report on the GB Power Market Outlook to 2030 has seen a rise in our projections for power prices in the latter half of the decade. Estimates indicate that prices are likely to remain above £100/MWh until 2030 and likely beyond. The predictions, from data modelled in...

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

    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’s price cap projections have shifted just £38 since March, with a typical household now predicted to pay approximately £2,060 per year from July. The stabilisation...

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

    According to findings by Cornwall Insight Australia, this week’s closure of Liddell Power Station is expected to drive up average power prices during peak periods in New South Wales (NSW). Prices, particularly in the summer1, are expected to be higher compared to the previous three years. As demand peaks during...

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

    Ireland is making strides towards a low carbon hydrogen economy, with the potential to climb up the ranks of Cornwall Insight's Hydrogen Index1. While currently holding the lowest ranking in the Index, Ireland has announced plans to publish a "policy and regulatory roadmap for green hydrogen use" in 2023. This,...

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

    The UK has been ranked third amongst countries that have the potential to be global leaders in the new hydrogen economy. The ranking from Cornwall Insight’s Hydrogen Index1 shows a marked improvement from 2022, with the UK surpassing both Spain and Japan in its efforts to establish an economy where...

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    Government will struggle to meet 2025 smart meter target

    Data from Cornwall Insight on domestic energy supply has revealed that the government is likely to face a considerable hurdle in achieving its goal of 100% smart meter coverage by 2025. The smart meter analysis, which also looks at supplier installation figures and the annual tolerance levels1 set by BEIS,...

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    Cornwall Insight release price cap predictions for July and October 2023

    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. Prior to the introduction of the April-June 2023 Default Tariff Cap (price cap), Cornwall Insight are releasing our latest predictions for the third and fourth quarters of...

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

    Data from Cornwall Insight’s Delivered Electricity Cost forecaster has shown businesses that fixed their energy contracts at the peak of the energy market last year1, could be facing up to a 133% rise in bills from April. The figures, which represent a worst-case scenario2, demonstrate how high wholesale prices at...

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    Ireland leads Europe in growth of electric vehicles

    Ireland has seen the highest growth in the electric vehicle (EV) market share rising an impressive 81.3% from 2021- 2022. The data taken from the new Electric Vehicle Country Attractiveness (EVCA) Index, developed by Cornwall Insight and law firm Shoosmiths, identified the year-on-year growth of large European countries with Ireland,...

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    UK recognised as one of Europe’s top countries for Electric Vehicles

    The UK has been ranked the 5th most attractive European country for Electric Vehicle (EV) market potential, according to the Electric Vehicle Country Attractiveness (EVCA) Index. The new Index developed by Cornwall Insight and law firm Shoosmiths identifies a range of factors1 from purchase subsidies to national EV charging targets...