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default tariff price cap
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Press Releases
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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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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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
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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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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Media Mentions
Guardian| Slight fall in price cap predictions
Prior to the introduction of the July price cap, we released new forecasts that showed the price cap will only fall slightly over the winter, and are likely to remain above historic levels. Dr Craig Lowrey, a Principle Consultant at Cornwall Insight spoke on the urgency to review the price...
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Press Releases
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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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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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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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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Press Releases
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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Press Releases
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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Press Releases
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...
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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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Press Releases
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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Press Releases
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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Media Mentions
BBC News Online| Falling wholesale market lowers price cap forecasts
Our first price cap predictions for 2023 were revised downward due to decreasing wholesale prices. Despite the decrease, our Principal Consultant Dr Craig Lowrey warned in a BBC article that even if energy prices remain low, government spending related to the Energy Price Guarantee will likely be passed on to...
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Press Releases
Cornwall Insight responds to the announcement of the January 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. Craig Lowrey, Principal Consultant at Cornwall Insight said: “The Energy Price Guarantee (EPG) will shield consumers from the January price cap of £4,279 announced by Ofgem today,...
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Press Releases
Cornwall Insight release final Default Tariff Cap and EPG cost predictions prior to Ofgem announcement tomorrow
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 are releasing our final forecast for the January 2023 Default Tariff Cap (price cap), due to be announced tomorrow (24 November). We are also releasing...
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Press Releases
Cornwall Insight forecasts a fall in the April 2023 Price Cap but prices remain significantly above the Energy Price Guarantee
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 latest Default Tariff Cap (price cap) forecasts for April – June 2023 (Q223) have dropped by over £600 since the last widely released figures on...
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Press Releases
Response to the domestic Energy Price Guarantee announcement
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. Following the announcement that the domestic Energy Price Guarantee (EPG) will come to an end in April 2023, Cornwall Insight has released approximate Price Cap forecasts for...
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Press Releases
Energy Price Guarantee could cost the Government between £72bn – £140bn
Modelling from Cornwall Insight has forecast the two-year cost of the Energy Price Guarantee (EPG) to be between £72bn in the lowest case scenario, and £140bn in the extreme high case scenario1. The data included in our new EPG report ‘Counting the Costs’, shows a near doubling of the forecasts...
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Press Releases
Cornwall Insight comments on its January Default Tariff Cap forecast rising to £3,000 for a typical user
Data reported on Monday evening (20/06) from Cornwall Insight forecast that the Default Tariff Cap for Q1 2023 (Jan-Mar) will rise to £3,003 per year for a typical user, with the last quarter of 2022 Q4 (Oct-Dec) predicted to be £2,980. The rise means an average household will pay just...
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Press Releases
Price Cap predictions soar as EU sanctions on Russia cause volatility in the wholesale market
Cornwall Insight’s forecast for the October (Q4 2022) Default Tariff Cap has increased to £2,879 for an average consumer, as Russian oil sanctions cause renewed uncertainty across the energy market. The predictions for the January (Q1 2023) Cap are even costlier rising to over £2,900 for the first time. While...
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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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Press Releases
Energy price cap now level with the cheapest deals on the market
Research from Cornwall Insight has shown there is only a £2/year difference between the top ten cheapest energy deals on the market and the Default Tariff Cap. The gap which is significantly smaller than the £171/year seen in December 2020, stayed stagnant between October and December 2021, further confirming predictions...
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Press Releases
Quick fixes to the energy crisis are not working, we need widescale reform
The focus of policy makers on short-term solutions to rising energy prices is risking the long-term sustainability of the energy sector and leaving the public vulnerable to increasing costs according to Gareth Miller, CEO of Cornwall Insight. Current solutions, including the Default Tariff Cap, only attempt to deal with failings...
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Press Releases
Gap between cheapest energy deals and price cap shrinks to the lowest ever level
Research from Cornwall Insight’s ‘Domestic tariff report’ highlights the level of savings made by a customer switching to a new energy tariff has reduced significantly. In fact, the difference between the ten cheapest tariffs and the current default tariff cap for September 2021 stands at just £11/year, compared to £291/year...
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Press Releases
Energy price cap predicted to rise to £1,660
As a result of wholesale gas and electricity prices continuing to reach new records, Cornwall Insight’s modelling for the Summer 2022 default tariff price cap has risen once again, with its indicative forecast climbing to approximately £1,660. Despite a long way to go and a lot of uncertainty to resolve...
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Media Mentions
The Guardian | Price cap rising
Our research predicting a rise to the summer default tariff, was featured in The Guardian. Talking about the research Craig Lowrey, Senior Consultant at Cornwall insight explained that the recent high wholesale price would feed into the price cap potentially increasing it by 14% to £1,455 a year for a...
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Media Mentions
The Guardian | Energy bills on the rise
Price cap analysis from Cornwall Insight was showcased in The Guardian. The analysis shows that for the coming winter, the regulator is expected to lift its cap for the average dual-fuel energy bill from £1,138 a year to £1,250 a year. Discussing the reason behind the rise, Craig Lowrey said...
