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Power prices
-
Press Releases
Coal exit and workforce shortages keep short-term power prices high
The ongoing phase-out of coal facilities and the sluggish progress in launching new renewable energy projects, partly due to shortages in the skilled workforce, are poised to push electricity prices higher until 2030 as the next tranche of coal units retires. The latest NEM Benchmark Power Curve report from Cornwall...
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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....
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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...
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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
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The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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
Investment in renewable pushes power price projections down but they remain above the pre-2021 average for next decade
Cornwall Insight’s latest - GB Power Market Outlook to 2030 – has shown greater investment in renewables by nations across the continent, which has resulted in lower price projections in GB from 2024 up until 2030. This is compared with our first report, published three months ago. Renewable investment has increased largely as...
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Press Releases
The UK must provide more certainty to investors as it pushes forward with decarbonisation and energy security
New research from Cornwall Insight and Transatlantic law firm Womble Bond Dickinson has laid out what the UK government must do to achieve an affordable, sustainable and secure energy system and reach its goal of Net Zero by 2050. The report ‘UK and the energy transition: Leading the way?’ analysed...
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Press Releases
Wholesale power prices expected to remain high for the winter season
The latest Cornwall Insight forecasts suggest winter wholesale power prices are to remain at their high levels, with the potential for price spikes in periods of high demand and low wind, as margins look tight for the winter ahead. The key driver of power prices will likely be gas prices...
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Press Releases
COVID-19 impacts: gas and power prices over the summer months
As Great Britain (GB) is starting to move through the peak of the COVID-19 pandemic, there have been some indications that the energy market could be passing its trough. Tim Dixon, Wholesale Team Lead at Cornwall Insight, looks into how GB gas & power prices may shape up over the...
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Press Releases
Oil prices crash causes GB gas and power prices to go into freefall
Following the impacts of Covid-19 on global demand and oil price disputes between Russia and Saudi Arabia, Brent crude oil prices fell to a 17-year low of below $26/bl on 18 March 2020. The recent crash saw prices record the most significant daily loss since the end of the Gulf...
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Press Releases
Cornwall Insight comments on Tuesday’s wholesale power price surge
Tuesday saw a series of events in the UK and Europe wholesale gas and power markets that contributed to a sharp day-on-day jump in prices, putting a stop to the recent downward trend in wholesale prices. Tuesday’s incidents: In France, news of problems with components to a critical supplier of...
