energy bills

  • Press Releases

    Ofgem cut the price cap but bills forecast to rise this winter

    Ofgem has today announced the July Default Tariff Cap (price cap) at £1,568 a year for a typical dual fuel consumer1. This is a 7% decrease from April’s cap set at an annual rate of £1,690. While wholesale prices have rebounded in recent weeks from their 30-month lows in February,...

  • 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    The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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 July-September Q3 2024 Default Tariff Cap (price cap) following the closure of the observation window1 on 16 May....

  • Press Releases

    Policy roadblock slows growth of fixed energy tariffs

    New data from Cornwall Insight has revealed that the number of fixed energy deals entering the market has stalled since March, with only 33 tariffs currently available, matching the number at the end of the previous quarter. Out of the 33 tariffs, only 19 are currently available on the open...

  • Press Releases

    Irish power prices expected to drop as gas storage levels remain high

    New forecasts from Cornwall Insight’s SEM Benchmark Power Price Curve indicate power prices are set to fall in 2024-25. Power prices are expected to drop from an average €106 per MWh during the previous 2023-24 fiscal year, to €91 per MWh over the 2024-2025 fiscal year, marking a 14% decrease....

  • Press Releases

    Power price projections fall amid high European gas stocks

    The latest projections from Cornwall Insight's Q1 Power Curve suggest that the recent drop in power prices is here to stay, extending all the way to the end of the decade. The new data shows a striking decline in projected prices, which bodes well for both households and businesses, offering...

  • Press Releases

    Wholesale price hikes and Ofgem updates raise price cap forecast

    The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts. New Default Tariff Cap (price cap) forecasts from Cornwall Insight reveal a rise in predictions for both the July and October 2024 price cap periods against previous...

  • Press Releases

    Rewarding households for flexible energy use could transform energy systems worldwide

    Global analysis conducted by Cornwall Insight has unveiled the potential of rewarding consumers for embracing energy-efficient behaviours. Launched at this year’s Distributed Energy Show, the report - Integrate to Zero: Rewarding Consumers for Energy Flexibility: global market highlights – written in partnership with Integrate to Zero, examines a wide array...

  • Press Releases

    Cornwall Insight responds to the Government’s announcement on UK energy security

    Kate Mulvany, Principal Consultant, at Cornwall Insight said: “Today’s consultation gets the UK one step closer to a secure and future-proofed energy landscape. Bolstering national power infrastructure and ensuring energy security will not only help insulate future bill-payers from global uncertainties, but also foster a sustainable path towards net zero....

  • Press Releases

    Response to the extension of the Energy Profits Levy

    Kate Mulvany, Principal Consultant at Cornwall Insight said: “Increasing the duration of the oil and gas windfall tax (Energy Profits Levy) could be seen as positive for decarbonisation if the resulting profits are used to deliver the UK's net zero plan. Yet, without a solid transition strategy away from the...

  • Press Releases

    Cornwall Insight responds to the announcement of the April price cap

    Ofgem has today announced the April Default Tariff Cap (price cap) at £1,690 a year for a typical dual fuel consumer1. This is a 12% decrease from January’s cap set at £1,928 a year. A healthy flow of gas across the Atlantic, coupled with a relatively mild winter, has seen...

  • Press Releases

    Cornwall Insight’s 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 announced its final forecast for the April – June Q2 2024 Default Tariff Cap (price cap) following the closure of the observation window1 on...

  • Press Releases

    Price cap predictions continue to fall despite disruption in the Red Sea

    Tensions in the Red Sea have failed to derail the prospect of lower household energy bills from April, as our latest forecast for the April 2024 Default Tariff Cap (price cap) indicates. Predictions have fallen £40 p/a since December, with a typical dual fuel consumer1 now expected to pay an...

  • Press Releases

    Power prices drop in Ireland as EU increases gas reserves

    Cornwall Insight have reduced their short-term power market price forecast for Ireland, with predictions for 2024 dropping by over 18%. This could bring welcome relief to homes and businesses struggling with soaring energy costs. Higher than anticipated gas storage levels in the EU have lowered fears of shortages this winter....

  • Press Releases

    GB power prices to remain high despite drop in short-term forecasts

    Cornwall Insight have cut their short-term power market price forecast by 12%, with average costs for 2024 now predicted to be £113 per MWh1. The decrease in electricity price predictions is attributed to the higher than expected gas reserves in Europe, lowering fears of shortages this winter. The data, included...

  • Press Releases

    Price cap predicted to fall by 14% in April

    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. Forecasts for the April 2024 Default Tariff Cap (price cap) show a fall of 14% in the second quarter of the year, with a typical dual fuel...

  • Press Releases

    Supporting renewables good for consumers

    A new Cornwall Insight and RenewableNI report sets out how supportive Department for the Economy (DfE) policy can reduce the renewable electricity cost for consumers. ‘Supporting Renewables - Understanding policy impact on the cost to the consumers of renewable development in Northern Ireland’ investigated how DfE’s renewable electricity support scheme...

  • 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. Ofgem has today announced the January Default Tariff Cap (price cap) at £1,928 a year for a typical dual fuel consumer1. This is a 5% increase from...

  • Media Mentions

    City AM| Energy bills set to rise by 5%

    We released our final price cap predictions for January 2024, showing that average bills would be rising by £100. Dr Craig Lowrey our Principal Consultant explained why the UK’s reliance on energy imports, made it inevitable that energy bills would rise from current levels. City AM

  • Press Releases

    Cornwall Insight’s final forecast for 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. Cornwall Insight has announced its final forecast for the January – March Q1 2024 Default Tariff Cap (price cap) following the closure of the observation window1 on...

  • Press Releases

    Price cap forecast to remain above current level until end of 2024

    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. Forecasts for the 2024 Default Tariff Cap (price cap) have risen in response to growing volatility in the global wholesale energy market. Latest predictions, place a typical1...

  • Press Releases

    Irish power prices to rise in 2024 while renewables goals hang in the balance

    A new report forecasting power prices out to 2030, has shown a jump in short-term prices. The data from Cornwall Insight’s All-Island Power Market Outlook to 2023, predicts prices will rise to nearly €190/MWh for 2024, three times the pre-2021 average.   The increase in the near-term forecast has been...

  • Press Releases

    Cornwall Insight release price cap forecasts for 2024

    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 October - December 2023 Default Tariff Cap (price cap), Cornwall Insight has announced its forecasts for 2024. Our new figures predict...

  • Press Releases

    Cornwall Insight’s response to the announcement of the October 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. Ofgem has today announced the October Default Tariff Cap (price cap) at £1,923 a year for a typical dual fuel consumer1 for the final three months of...

  • 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...

  • 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...

  • 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...

  • Media Mentions

    The Martin Lewis Money Show| Price cap

    Martin Lewis used our price cap data on his money show to help consumers make informed decisions about the new fixed rate tariffs hitting the market. The Martin Lewis Money Show - 39.50

  • Media Mentions

    This is Money/Daily Mail| Energy prices

    Wholesale energy prices are falling, however the July price cap level shows bills still remaining above historic averages, Head of Relationship Development Robert Buckley spoke to This is Money on why bills are not reducing faster. This is Money/Daily Mail

  • Media Mentions

    Radio 4 Today| Price Cap

    Our Senior Consultant Kate Mulvany was interviewed following Ofgem's announcement of the July price cap. Kate delved into the reasons behind the reduction in the price cap, shed light on the anticipated trajectory of customers' bills in the coming months, and explored the factors that could potentially influence energy prices....

  • 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...