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Consumers
-
Press Releases
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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Press Releases
Smart meters have potential to play critical role in energy security
An independent research paper from Cornwall Insight, commissioned by Smart Energy GB, has set out the part smart meters could play in getting a grip on the energy crisis in Great Britain (GB). The paper – ‘Energy security and Smart Meters’– outlines how through empowering consumers to change how much...
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Media Mentions
Current+| Decarbonisation and energy security
New research from Cornwall Insight and law firm Womble Bond Dickinson laid out what the UK government must do to achieve an affordable, sustainable and secure energy system and reach its goal of Net Zero by 2050. Naomi Potter spoke in Current+ on the challenges facing the UK as it...
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Media Mentions
iNews| Windfall Tax
The government announced the temporary, targeted energy profits levy, or windfall tax designed to help consumers with the rising cost of energy bills. Research Partner Dr Dan Atzori spoke to iNews on why the tax may not be the most enduring solution for the energy bill crisis. Besides giving all...
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Media Mentions
iNews| Supplier of Last Resort payments costing consumers
Costs to compensate energy companies who take on customers from failed suppliers have resulted in an average increase in domestic electricity bills by £34.36 in 2022-23. Senior Analyst Laura Woolsey spoke to iNews on what needs to change if we are to protect both consumers and companies. We need to...
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Press Releases
Failed energy suppliers costing consumers more than a third extra in local distribution networks charges
Costs to compensate energy companies who take on customers from failed suppliers have resulted in an average increase in domestic electricity bills by £34.46 in 2022-23. When a customer’s supplier fails, they are automatically appointed a new supplier through the Supplier of Last Resort (SoLR) process, with onboarding suppliers able...
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Media Mentions
City AM| Price cap hike announced
After Ofgem confirmed the price cap would be rising by 54% increasing pressure on households, Dr Craig Lowrey spoke to City AM on concerns over continuing with the cap. The cap was never meant to be a permanent solution and today has shown that rather than protecting customers, the impact...
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Media Mentions
Current+| Volatile energy prices
Current+ reported on Cornwall Insight’s Benchmark Power Curve, which forecasts that volatile wholesale energy prices could continue into 2030 and beyond. Tom Edwards, Senior Modelling Consultant, explained that low nuclear and coal assets, coupled with an overreliance on imported energy could leave the UK vulnerable to variable pricing. A greater...
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Media Mentions
iNews| Price cap forecasts
On the eve of the default tariff cap price announcement Senior Consultant Dr Craig Lowrey spoke to iNews on our forecasts for the summer and winter rises. He explained why the high price of wholesale gas and electricity was likely to trigger a significant rise in the cap and how...
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Media Mentions
The Guardian | Default tariff cap predicted to rise
With the default tariff cap predicted to rise in April, Cornwall Insight’s CEO Gareth Miller spoke to the Guardian on why the energy market needs long-term reform. He explained that rather than quick fixes to counter the record energy market highs which threaten the livelihoods of households and businesses,...
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Press Releases
Summer 2022 price cap predicted to rise to £1,455
Despite the Winter 2021-22 default tariff price cap being a new record at £1,277, the latest forecast from Cornwall Insight modelling indicates that the Summer 2022 cap will see a further increase of approximately 14% increase against the Winter 2021-22 cap – taking the Summer 2022 cap to £1,455 per...
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Media Mentions
Smart Energy International | Time of Use tariffs uptake
Research from our ‘Connected homes insight service’ which found both suppliers and consumers have made tentative steps to explore Time of Use tariffs was featured in Smart Energy International. Despite the low adoption at the moment, ToU offerings could become as popular as single-rate tariffs over the coming decades. According...
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Press Releases
Price cap declines but is expected to fall further still
Commenting on today’s Ofgem announcement that the default price cap would decrease by £17 to £1,162 for the six months effective from 1 April 2020, Robert Buckley Head of Retail and Relationship Development at Cornwall Insight, said: “Due to the mild winter the UK has experienced, it will have come...
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Press Releases
Price cap predicted to fall by at least £80/year
The latest forecasts from Cornwall Insight’s Tariff Cap Predictor – a quarterly report modelling the future default tariff periods – predict the price cap could fall by a significant £83 per year to £1,171 – from its current level of £1,254 – when Ofgem makes its readjustment in August. This...
