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Business energy
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Press Releases
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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Press Releases
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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Press Releases
Government business energy scheme will cost up to £25bn
Robert Buckley, Head of Relationship Development at Cornwall Insight said: "The new government scheme will bring significant relief to many businesses and public sector organisations as they try to navigate the unprecedented energy rises. Economically it was important that government took action. "The reduction in energy costs will be substantial....
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Press Releases
Business energy crisis could increase inequality in the UK
A new paper from Cornwall Insight on mitigating the impacts of energy price hikes for businesses, has laid out the geographical disparities in the effects of the business energy crisis. Many of the industries set to be hit hardest, including manufacturing and heavy industry (Figure 1), play disproportionately important roles...
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Press Releases
Businesses could see energy bills increase fivefold in October
Businesses in the UK will see their energy bills rocket when new contracts are negotiated in October1 according to data from Cornwall Insight. Some will face bills five times their current price, as concerns over Russian gas supply, tight electricity markets in Europe, and a global disruption to Liquified Natural...
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Media Mentions
Radio 4 Today Programme | Business energy prices
Robert Buckley, our Head of Relationship Development, spoke on the concerns facing business energy prices, which he said could be five, six or seven times more than current contracts when they were renewed in October. The importance of considering energy efficiency measures was emphasised. Daily Mail - Quotes from Radio...
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Press Releases
On-site energy generation could wield significant savings for companies
Research from Cornwall Insight, included in their report - ‘A corporates guide to decarbonising power’ - has demonstrated how on-site energy generation could help cut corporation energy bills and their carbon footprint. By moving the generation of energy to their site, or through engaging in a private wire arrangement -...
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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
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
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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Press Releases
SME power prices reach record highs
Small and Medium Enterprises (SME) power prices have continued to rise in Q221, reaching the highest level since our records began in Q212, according to the latest research from Cornwall Insight’s Pricing in the SME power market report. Over the past quarter, prices have increased by 5.82% to average at...
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Press Releases
Acquisitions set to change non-domestic energy market landscape
Research by Cornwall Insight into the non-domestic supply market share highlights a changing market share landscape due to recent acquisitions. When the E.ON UK and npower merger completes the rankings for larger suppliers in the electricity market will change significantly. Figures from our ‘Business market share survey’ show that the...
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Press Releases
Businesses push TPIs towards green energy
Research from Cornwall Insight’s TPI satisfaction survey* reveals that large consumer-facing companies are more likely to engage with green energy compared to previous years. The survey revealed that Renewable Energy Guarantee of Origins (REGOs) and Demand Side Response (DSR) are emerging as highly valued services beyond standard energy contracts from...
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Press Releases
Business energy deals see TPIs earn 20% more
2019 has once again been a year of significant change for third-party intermediaries (TPIs) operating in the business market, with revenues available from negotiating business energy contracts growing. Research from Cornwall Insight’s TPIs in the Business and Industrial Energy Supply Markets report found that when negotiating these contracts in 2019,...
