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electricity
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Press Releases
Government’s offshore wind shortfall could delay net zero
A new report forecasting the energy generation mix out to 2030, has calculated the government will miss its 50GW offshore wind capacity target, with potential consequences for net zero. Modelling from Cornwall Insight, included in its quarterly GB Benchmark Power Curve report, forecasts offshore wind capacity will increase from...
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Press Releases
Embracing off-peak electricity use and home generation could save billions in energy costs
New analysis from Cornwall Insight and Smart Energy GB has revealed the substantial cost-saving potential of household flexible electricity initiatives such as time-of-use tariffs, smart meters, solar PV, and batteries. The data reveals national wholesale and system electricity costs could be cut by an annual £4.6bn in 2030 and £14.1...
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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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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
Electricity demand close to outstripping supply during unprecedented heatwave
Research from Cornwall Insight has shown that electricity system margins in Great Britain (GB) were very tight during the record-high temperatures seen earlier this week, with demand very close to overtaking supply. National Grid’s 1-hour forecast for de-rated margin (the difference between available generation and demand) was negative for two...
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Press Releases
Rushing into reform of the electricity market risks significantly inflating costs
The Review of Electricity Market Arrangements [REMA] announced by the government in its recently published Energy Security Strategy must be undertaken with a strong focus on protecting investor momentum if the government are to meet their net zero, energy security and consumer affordability objectives. REMAs remit is wide and includes...
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Media Mentions
The Guardian | Net zero electricity by 2035
Tom Edwards talked to The Guardian today about the Prime Minster's plans to decarbonise the electricity grid by 2035. He explained that to meet this target it would require a massive ramp-up of wind and solar to meet the electricity demand. Data from Cornwall Insight shows that to do this it...
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Press Releases
EVs are predicted to increase electricity demand by 71.6TWh
The latest figures from Cornwall Insight’s ‘Benchmark power curve’ forecasts that by 2040 EVs will contribute an additional 71.6TWh, this is a massive 31 times higher than the current level of demand for electricity from electrified transport and 25% of current annual demand which stands at 299TWh (excluding losses). According...
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Media Mentions
Renewable Energy Magazine | Policy costs disincentivise transition
Our insight paper Who pays for supporting the net zero transition? was highlighted in Renewable Energy Magazine. The insight paper highlights that the application of policy costs onto the electricity bill is a significant disincentive to electrify and transition to newer low-carbon heating technologies. Dan Starman Lead Consultant at Cornwall...
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Press Releases
Brexit impacts | Divergent electricity prices
Since the start of the year, as a result of Brexit, Great Britain's (GB's) internal and cross-border trading has been temporarily decoupled from European power exchanges. This is expected to result in less efficient trades; interconnector flows and divergent electricity prices between power exchanges. Research from Cornwall Insight examining the...
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Press Releases
Demand for DNO flexibility services predicted to gather pace
Cornwall Insight examines the Energy Network Association’s (ENA) forecast for Distribution Network Opeators (DNO) flexibility service procurement over the next 10 years. These latest forecasts show more than 1.3GW requirement across all services in DNO regions in 2021. The largest share of the requirement (636MW) is attributed to the Dynamic...
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Media Mentions
The Guardian | Coal plants used
Tom Edward Senior Modelling Consultant spoke to The Guardian about the coal-fired plants being fired up in the UK. The supply squeeze had caused market prices for electricity generated in the early evening, when electricity demand typically spikes, to climb to over £313 per megawatt hours (MWh).Renewable electricity is in...
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Media Mentions
Financial Times | National Grid issues
Tom Edwards Senior Modelling Consultant at Cornwall Insight comments on National Grid's warning for the second time in three week's featured in the Financial Times. National Grid warned that supplies of electricity in Britain are going to be stretched as fewer-than-expected power generators will be available at peak times, while...
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Press Releases
Electricity generation is transforming with net zero. Does power market design need to do the same?
The decarbonisation of the power sector is accelerating through the rapid expansion of low marginal cost renewable generation. As a result, the current electricity market design and the marginal price-based determination of the price of power risk acting as an ever-growing barrier to investment needed to fulfil the net zero...
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Media Mentions
Renewable Energy Magazine | Market design
Issues around the current electricity market design acting as a barrier to investment are explored in our latest insight paper – The net zero paradox: Challenges of designing markets to bring forward low marginal cost resources and featured in Renewable Energy Magazine. Inevitably, as we head closer towards a net zero...
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Media Mentions
Smart Energy International | Non-domestic energy market changing
Our research into the non-domestic energy supply market share featured in Smart Energy International. Molly Lloyd highlighted that we are currently seeing a changing market share landscape due to recent acquisitions. npower’s merger with E.ON Group will lead to changes in larger suppliers’ market share rankings. E.ON UK’s merger in...
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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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Media Mentions
reNEWS | Price cannibalisation
We were asked to comment on price cannibalisation in ReNews today. c Price cannibalisation is the “depressive influence on the wholesale electricity price at times of high output from intermittent, weather-driven generation such as solar, onshore and offshore wind”. reNEWS
