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energy crisis
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Press Releases
Cornwall Insight’s response to the announcement of the October price cap
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 2023. This is based on the regulator’s current definition of an average household's gas and electricity use2, and shows a 7% decline from...
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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
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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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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
Increase in Irish exports raises long-term power price projections
Cornwall Insight has raised its long-term predictions for power prices in Ireland as a projected rise in interconnector exports and reduced imports pushes up demand and costs. Ireland’s first 2023 - ‘All-Island Power Market Outlook to 2030’ – which looks at data modelled in the first quarter of the year,...
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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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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
Europe’s gas storage levels forecast to finish winter higher than 2020
Modelling from Cornwall Insight suggests European gas storage levels will end this winter between 45-61% full, with an average of 55% and could reach 88-100% full by September 2023. The data, included in our insight paper ‘Crisis behind, challenge ahead: European gas storage levels for 2023’ shows this would be...
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Media Mentions
Montel News| EU gas storage
Following the release of Cornwall Insight's Insight paper on EU gas storage levels, Lead Research Analyst Matthew Chadwick featured in Montel News, to discuss the positive news that gas storage levels were rising and likely to be nearly full by September. Montel News
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Media Mentions
Sky News Online| Price cap and the EPG
Ahead of the announcement of April's price cap, our Principal Consultant Dr Craig Lowrey cautioned that the announcement of a lower price cap by Ofgem would not prevent an increase in bills if the government proceeded with its plan to raise the EPG to £3,000 starting in April. Sky News...
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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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Media Mentions
Telegraph| Switching energy suppliers
As energy prices start to come down, Cornwall Insight told the Telegraph this may mean the return of more competitive energy tariffs. Senior Consultant Kate Mulvany said that millions of families may be able to switch energy supplier and reap the benefits of savings that they had been missing out...
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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
Cornwall Insight release latest price cap predictions
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 Default Tariff Cap (price cap) predictions from Cornwall Insight have been released. These are calculated from market closing prices on Friday 3 February. Figure 1: Cornwall Insight’s Default...
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Media Mentions
Radio 4 ‘The Briefing Room’| Why are fuel and energy prices dropping?
Kate Mulvany, Senior Consultant at Cornwall Insight, discussed the unexpected benefits of the recent winter for the energy market and the factors contributing to the decrease in wholesale prices with David Aaronovitch and Javier Blas. BBC Radio 4's 'The Briefing Room' - Listen at 06.05
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Media Mentions
Guardian| Business decarbonisation
In an interview with the Guardian, our CEO Gareth Miller discussed the potential negative impact of the government's Energy Bill Discount Scheme on the net-zero goals of UK businesses. He emphasised that cutting back on business support from April could lead to decreased investment, and suggested that shifting the policy...
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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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Media Mentions
Daily Mail| Long-term wholesale prices high
New modelling from Cornwall Insight included in our report – ‘Another winter of discontent?’ - was covered in the Daily Mail. Matthew Chadwick spoke on why the heavy reliance on foreign imports in the UK makes the country vulnerable to global rises. Daily Mail
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Media Mentions
New Statesman| Interview with Gareth Miller CEO
In an interview with the New Statesman, our CEO Gareth Miller discussed potential energy challenges for the upcoming winter, as well as our price cap forecasts, the windfall tax, potential solutions to the energy crisis, and Cornwall Insight's plans for the future. New Statesman
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Media Mentions
Reuters| Supplier debt
Following an Insight paper released by Cornwall Insight and Complete Strategy on bad debt and energy suppliers, Matthew Chadwick our Lead Research Analyst was featured on the Reuters website. Matthew spoke on the knock on effect the bad debt could have to suppliers, many of whom were already working to...
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Media Mentions
City AM| Windfall tax on renewable generators
A windfall tax on renewables generators would be disproportionate Matthew Chadwick a Lead Research Analyst at Cornwall Insight told City AM. With renewables having made significantly lower profits and being vulnerable to higher interest rates, a windfall tax could harm the roll out of renewables across the country, damaging net...
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Media Mentions
Current+| Cost of charging EVs
Oliver Archer Lead Analyst at Cornwall Insight was quoted in trade publication Current+ discussing the rising costs of charging EVs on the public network. He explained that although the Energy Bill Relief Scheme has provided charge point operators with some respite, it only applied to the wholesale elements of the...
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Media Mentions
Eastern Daily Press| Norfolk Business Awards
An interview with our CEO Gareth Miller was featured in the EDP after Cornwall Insight won the Outstanding Achievement Award at the Norfolk Business Awards. Gareth spoke about the honour of winning such an award, what makes Cornwall Insight stand out and our plans for the future. EDP
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Media Mentions
ITV| Energy Price Guarantee
Gareth Miller CEO at Cornwall Insight spoke to ITV on the domestic support the government were putting in place to help households with their bills. He also mentioned the vital support needed from the government to help businesses, which would need to be reviewed rapidly. ITV
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Media Mentions
Guardian| Cost of the Energy Price Guarantee
Cornwall Insight released our forecast on the costs the government may face by freezing energy prices at £2,500 for all consumers. Our CEO Gareth Miller, spoke on the chance the government was taking by introducing the Energy price Guarantee Guardian
