• Press Releases

  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  The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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  The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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...

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  Soaring cost of capital threatens to derail expansion of renewable energy projects

  The rising cost of capital faced by developers of renewable energy projects, such as onshore wind and solar PV, may slow down the number of new projects and cause some already commissioned projects to become financially unviable. Data from Cornwall Insight’s report into capital costs and their impacts on the...

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  Cornwall Insight responds to the Spring Budget

  Robert Buckley, Head of Relationship Development at Cornwall Insight: “Once again, a UK budget has seen some significant energy policy announcements that will stir up conversation and opinion across the country. It also shows how reining in energy prices is seen as key to restraining inflation. “The pre-budget announcement to...

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  Cornwall Insight responds to the government’s announcement on the EPG

  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: “The announcement that the government will maintain the Energy Price Guarantee (EPG) at £2,500 has provided much-needed clarity for energy...

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

  Modelling from Cornwall Insight has shown that in 2035 widespread use of integrated energy solutions could save the UK's wholesale energy market £13bn per year, representing a 25% cost reduction. The data is included in the independent research paper ‘Integrate to Zero’ prepared by Cornwall Insight and commissioned by the...

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

  The government has today published the summary of responses received from its Review of Electricity Market Arrangements (REMA) consultation. The responses received showed the industry has expressed strong support (92% agreement) for energy market reform that prioritises decarbonisation, security of supply, and cost-effectiveness. Respondents also agreed that the current market...

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  Europe’s gas storage levels forecast to finish winter higher than 2020

  Modelling from Cornwall Insight suggests European gas storage levels will end this winter between 45-61% full, with an average of 55% and could reach 88-100% full by September 2023. The data, included in our insight paper ‘Crisis behind, challenge ahead: European gas storage levels for 2023’ shows this would be...

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

  Data analysed by Cornwall Insight Australia, as part of our ongoing review of the National Electricity Market (NEM), has shown the capacity of the NEM is being drastically overestimated in the short-term and underestimated in the long-term. The delays experienced by new connections and the exclusion of projects that are...

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

  A new survey looking at the readiness of local authorities (LAs) for the mass adoption of electric vehicles (EVs) in the South East has found that only 18% of those surveyed had consulted with local businesses on an EV charge point strategy, while half had spoken to local residents1. The...

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  Cornwall Insight responds to the announcement of 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. Dr Craig Lowrey, Principal Consultant at Cornwall Insight said: “Following the announcement by Ofgem that April’s Default Tariff Cap (price cap) will fall to an average £3,280...

• Press Releases

  Cornwall Insight release 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 released the final prediction for the April Default Tariff Cap (price cap) following the closure of the observation window1, on 17 February. We are...

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  Cornwall Insight named one of the FT’s leading Management Consultancies

  We are delighted to announce that Cornwall Insight has been named one of the Financial Times’ leading management consultants in energy, utilities & environment. Following two Statista surveys which reviewed feedback from our clients and our peers in Consulting, we achieved a bronze award recognising the strong relationships we have...

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

  The number of households switching their energy supplier could rise from July 2023, as falling energy wholesale prices coupled with reduced government support look set to provide suppliers with the chance to offer millions of domestic customers more competitive deals. Since the start of winter, the default tariff cap, or...

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  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...

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

  New data from Cornwall Insight Australia's EV uptake model shows that under an extreme scenario, 22 million electric vehicles (EVs) are expected to be part of the National Electricity Market (NEM) states’ fleet by 2052. The scenario is based on a high population and an EV penetration rate of 98%...

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  Victoria must increase transmission capacity to meet offshore wind targets

  Data analysed by Cornwall Insight Australia has shown that Victoria will need to increase its transmission capacity in the South East by an additional 2GW by 2035 and 7GW by 2040 if it wants to capitalise on new capacity and help meet the state’s ambitious offshore wind targets. The Bass...

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

  A new report from Cornwall Insight has set out a range of regulation and policy changes the government could examine if it wants to avoid a slowdown or stalling of business investment in decarbonisation. The report “Business net zero: Making progress in a challenging economy” warns that against a backdrop...

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

  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 forecasts for the Default Tariff Cap (price cap) released by Cornwall Insight, have shown energy bill predictions for a typical household1 have fallen to £3,208...

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

  New data from Cornwall Insight has shown a drop in our predictions for power prices up to 2030 as Europe secures alternative energy supplies to compensate for reduced gas flows from Russia. The data included in our fourth 2022 – GB Power Market Outlook to 2030 – has shown price...