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energy crisis
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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
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Media Mentions
Guardian| Hydrogen could add costs to household bills
Cornwall Insight warned that using hydrogen for domestic heating could be very expensive, with the Guardian reporting on our joint report with renewable energy charity MCS Foundation. Our Senior Consultant Jitendra Patel, spoke on why it is simply uneconomical to use 100% hydrogen for household energy. Guardian
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Media Mentions
Telegraph| Energy Bill Relief Scheme
Our Head of Relationship Development Robert Buckley spoke to the Telegraph on the newly announced energy bill support for businesses. He warned that while the short-term fix was welcome, the government must make longer-term reform of the energy industry a priority. Telegraph
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Media Mentions
Current+| Business energy crisis could raise inequality
A paper by Cornwall Insight warned of the inequality that increasing energy costs could cause, with industries typically included in the government's levelling up agenda being the worst hit. Naomi Potter, a Lead Analyst at Cornwall Insight, called for intervention by the government to lower costs and protect small and...
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Media Mentions
Times| Power plant gas subsidies
Our CEO Gareth Miller spoke in the Times on how providing subsidised gas for power stations could reduce energy bills by billions of pounds. With most interventions in the energy market looking at energy retailers, changes which looked at generation had been left out of the discussion, however they have...
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Media Mentions
Independent| Decade of higher energy bills
Senior Modeller Tom Edwards, spoke on our Benchmark Power Curve which forecast power costs to be above pre-2021 levels for the next decade. However the dip in power prices from 2024 up to 2030, shows that markets and governments are investing in renewables as a response to the current higher...
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Media Mentions
Radio 4 Today Programme | Business energy prices
Robert Buckley, our Head of Relationship Development, spoke on the concerns facing business energy prices, which he said could be five, six or seven times more than current contracts when they were renewed in October. The importance of considering energy efficiency measures was emphasised. Daily Mail - Quotes from Radio...
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Media Mentions
iNews| Electricity demand during unprecedented heatwave
Research from Cornwall Insight showed that electricity system margins in Great Britain were very tight during the record-high temperatures seen earlier this week, with demand close to overtaking supply. Analyst Luke Ansell spoke to iNews on how the inefficiency of generation and supply, caused the electricity market to become incredibly...
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Media Mentions
Mirror | Price cap to reach £3,300
New predictions on the price cap from Cornwall Insight make for bleak reading, with disrupted gas supplies from Russia causing spikes in gas prices. Our Principal Consultant told the Mirror there was unlikely to be much movement with the setting of the October cap only one month away. Mirror
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Media Mentions
City AM| Windfarms delay contracts
Data collated by Cornwall Insight showed that offshore windfarms delaying the start of their CfD contracts with the government, could have made significantly greater profits since the start of 2022. Analyst Lee Drummee, spoke in City AM on why allowing for conscious delays from developers could be harming returns the...
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Media Mentions
Guardian| Energy Price Cap could reach £3,000
With the geopolitical events in Russia causing significant barriers to energy flows and raising wholesale gas prices, Principal Consultant Dr Craig Lowrey warned consumers that in January, an average customer may be facing a bill over 50% more than the existing cap. Guardian
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Media Mentions
Telegraph| Rough natural gas storage site
In an attempt to help ease the energy crisis, Centrica the owners of Rough gas storage started a conversation with the Secretary of State for Business, Energy and Industrial Strategy on the potential for reopening of the site. Senior Modeller Tom Edwards, spoke to the Telegraph on why this may...
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Press Releases
Windfall taxes are not the only solution to the energy crisis
Following the announcement from the Chancellor of the Exchequer that the UK government will be introducing a temporary, targeted energy profits levy, Dr Dan Atzori, Research Partner at Cornwall Insight said: “The energy market is in a state of transition, with geopolitical concerns threatening to undermine energy security and subsequent...
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Press Releases
Cornwall Insight responds to the publication of the energy strategy
Gareth Miller, CEO at Cornwall Insight said: “The Energy Security Strategy is a very political document that raises as many questions as it answers. There are clear favourites and as much can be read in to what is in the Strategy as what is not. 15 months on from the...
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Press Releases
Volatile energy prices set to continue into 2030
Research from Cornwall Insight has shown that conditions could be in place for volatile wholesale energy prices to continue into 2030 and beyond, unless the UK develops a long-term strategy to cope with changes in energy production and unstable economic, geopolitical, and ecological systems. Cornwall Insight’s Benchmark Power Curve, which...
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Media Mentions
Energy Monitor | The energy crisis and net zero investment
An article written, by Daniel Atozri, Research Partner at Cornwall Insight featured in Energy Monitor. In the article Daniel discusses how the high volatility of wholesale prices and turbulence in the energy supply market could discourage investors looking for stable returns and cashflows. He explained that there is a risk...
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Press Releases
Net zero investment needs to be protected through the energy crisis
According to Cornwall Insight, the ongoing energy crisis in the UK supply market has possible spill-over effects for the wider net zero transition. Therefore, focusing on how best to maintain investor resilience should be a critical part of the current response. How the crisis is affecting investors? The large swing...
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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
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 Daily Telegraph – Energy crisis intensifies
Tim Dixon spoke to The Daily Telegraph about the mounting energy crisis seen in Great Britain. Explaining why we are seeing high wholesale prices Tim said gas storage levels across Europe are well below levels we would expect them to be heading into a winter season There is still uncertainty...
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Media Mentions
BBC News | high gas prices
Robert Buckley, Head of Relationship and Development, disscussed high wholesale gas prices and how it will affect customers on the BBC. Robert explained that prices for power that is needed immediately are at all-time highs - 10 times the costs of last summer. He said that consumers would see these...