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BEIS
-
Press Releases
Cornwall Insight responds to the BEIS Committee report on Energy Pricing and the future of the Energy Market
A report from the Business, Energy and Industrial Strategy Committee (BEIS) on Energy pricing and the future of the energy market, published today (26 July), has laid out a number of recommendations on how Ofgem and the government could lower consumer energy bills and reduce instability in the energy market....
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Press Releases
Green certificate prices continue to rise amid BEIS proposals
The latest research from Cornwall Insight's 'Green certificate survey' shows Renewable Energy Guarantees of Origin (REGOs) prices have risen significantly in recent months, with average reported prices of £1.35/REGO for Fuel Mix Disclosure (FMD) 2021-22 and £1.41/REGO for FMD 2022-23. This is 228% and 214% higher, respectively, than reported prices...
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Press Releases
Current market for new-build renewables doubtful in meeting net zero target
The current market and options available for new-build renewables are inadequate to keep the UK on track to its net zero target. According to National Grid Future Energy Scenario (FES), the UK needs approximately 87-113GW (scenario dependent) of renewables capacity by 2030 and 197-231GW by 2050. That is an annual...
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Media Mentions
Insight Energy | 17GW potential for CfD AR4
Our 'Renewable Pipeline Tracker service' which examined the potential capacity that could enter the Contract for Difference Allocation Round 4 was featured in Insight Energy today. Recent announcements by BEIS have confirmed the CfD AR4 auction will take place in 'late 2021' and will look to procure up to double the ~6GW seen...
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Media Mentions
Riviera | CfD pipeline
Our CfD pipeline predictions featured in Riviera. Our figures show the total 17 GW eligible, almost half (7.9 GW) is offshore wind. The rest is 7.6 GW of ‘Pot 1’ established technologies and 1.4 GW of ‘Pot 2’ less established technologies. Recent announcements by BEIS have confirmed the CfD AR4...
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Press Releases
The Renewables Obligation Certificate market risks being oversupplied
Forecasts from Cornwall Insight highlight the Renewable Obligation Certificates (ROCs) supply and demand gap will be narrower in the 2020-21 compliance period than in previous years, due to lower overall electricity demand expectations. In fact, there is a material risk of ROCs being oversupplied should certain conditions arise, which would...
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Media Mentions
Current | Costs of renewables fall
Tom Edwards, Senior Modelling Consultant at Cornwall Insight spoke to current on the costs of deploying renewable electricity continuing to fall. He explained how the figures also show that hurdle rates for solar and wind have come down since the 2016 report, “while hurdle rates for traditional thermal technologies remain...
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Press Releases
Smart meter rollout significantly dented by COVID-19 lockdown
Unsurprisingly, the COVID-19 pandemic has made the progress of the smart meter rollout uncertain. Research from Cornwall Insight looks at BEIS and Ofgem’s initial indications of future rollout levels compared to pre-pandemic expectations. The below graph shows two COVID-19 impacted rollout profiles, based on recent assessments from Ofgem and BEIS...
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Press Releases
SMETS2 meters account for 90% of smart meter installations
Last year there were around half a million SMETS2 smart meters installed and almost 12mn SMETS1 meters deployed. A year on, SMETS2 installs have ramped up. Not only this, but the migration of SMETS1 meters onto the Data Communications Company’s (DCC) systems is making progress. As of 26 February, over...
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Press Releases
Cornwall Insight responds to BEIS consulting on wide-ranging changes to Contract for Difference scheme
Commenting on Business Energy Industrial Strategy’s (BEIS) consultation on wide-ranging changes to the Contract for Difference (CfD) scheme announcement, Gareth Miller CEO of Cornwall Insight, said: “After a six-year period where mature technologies such as onshore wind and solar have been unable to participate in the CfD scheme, this consultation by...
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Press Releases
Smart installs need to take place every seven seconds to cover 85% of homes by 2024
Last week, BEIS issued plans to set new binding annual smart meter installation milestones for suppliers, culminating in the requirement for each supplier to meet a minimum 85% coverage level by 31 December 2024. However, this is by no means a reprieve for suppliers, with figures from Cornwall Insight showing...
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Press Releases
Capacity Market in oversupply but predicted to balance out by mid-2020s
Earlier this month, Secretary of State for Business, Energy and Industrial Strategy Greg Clark wrote to the Delivery Body to update the target procurement volumes to 2.7GW, from the 4.6GW initially recommended in 2018, for the replacement T-1 2019-20 capacity auction that is due to be held in June. This...
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Press Releases
Non-domestic RHI average capacity continues to grow
Analysis by Pixie Energy of the latest non-domestic Renewable Heat Incentive (RHI), published by BEIS, shows there is a continuing decline in the number of installations made under the scheme; however, average capacity continues to rise. The latest quarter’s figures (January to March 2019) saw the second highest capacity per...
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Press Releases
Offshore Wind set to dominate the third allocation round of Contracts for Difference
Qualification for the third allocation round (AR3) of Contracts for Differences (CfDs) low-carbon support scheme is due to commence on 29 May. The Department for Business, Energy and Industrial Strategy (BEIS) announced that participants in AR3 would be competing for an annual budget of £60mn, with successful bidders expected to...
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Press Releases
Collaborative project involving Pixie Energy awarded funding by BEIS
Pixie Energy – a subsidiary of Cornwall Insight Group – in collaboration with Powervault and Sustainable Venture Development Partners has been awarded funding by the Department for Business, Energy and Industrial Strategy’s (BEIS) domestic demand-side response (DSR) competition. The funding was allocated for the Whole House Energy Management for DSR...
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Press Releases
Pixie Energy’s analysis of the knowledge gap in domestic renewable heat
Analysis by Pixie Energy of the BEIS Public Attitudes Tracker survey shows that although there is a real push for households to adopt renewable heat many are simply not aware of the options available are to them. The graph below illustrates how little is known about the four key technologies:...
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Press Releases
Cornwall Insight urges Perry to re-examine policy for renewable energies
Gareth Miller, CEO of Cornwall Insight has today, sent Claire Perry the MP Minister of State Department of Business, Energy and Industrial Strategy, a letter calling for the government to urgently re-examine its policy for mature and established renewable technologies and reconsider its stance on supporting grid-scale onshore wind and...
