renewables

  • 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

  • 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...

  • Press Releases

    High profits for some renewable generators sees money returned to consumers   

    Domestic energy customers in Ireland are set to receive €89.10, as renewable energy generators payback money given to them under the renewables support scheme. Under what is known as the Public Service Obligation (PSO) levy, a charge is applied to all electricity consumers to cover the costs of renewable support...

  • 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...

  • 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...

  • Press Releases

    Energy prices across Australia to remain high until 2026

    Research from Cornwall Insight Australia’s Benchmark Power Curve (BPC)1, which looks at power prices up until 2042, has forecast that all states in the National Electricity Market (NEM) will have an annual median price of around $200/MWh, up until FY2025. These high prices are expected to feed into bills over...

  • Press Releases

    Cornwall Insight responds to the BEIS Committee report on Energy Pricing and the future of the Energy Market

    A report from the Business, Energy and Industrial Strategy Committee (BEIS) on Energy pricing and the future of the energy market, published today (26 July), has laid out a number of recommendations on how Ofgem and the government could lower consumer energy bills and reduce instability in the energy market....

  • Press Releases

    Cornwall Insight’s reaction to the BEIS consultation on the Review of Electricity Market Arrangements

    Gareth Miller, Chief Executive at Cornwall Insight said: “Confirming the Review of Electricity Market Arrangements (REMA) opens the prospect of a complete overhaul of the electricity market in Great Britain, for the first time in over 20 years. The scope is very wide, and the perceived need for reform from...

  • Press Releases

    Battery storage to be a quarter of Ireland’s installed energy capacity by 2030

    Data from Cornwall Insight Ireland’s - ‘All-Island Power Market Outlook to 2030’ paper - has shown battery storage capacity will grow to become nearly a quarter (24%) of Ireland's installed energy capacity by 2030. The crucial technology will work to stabilise the network, as Ireland becomes more reliant on renewables...

  • Press Releases

    National Electricity Market may be overwhelmed by increase in electric vehicle use

    Data analysed by Cornwall Insight Australia has shown the National Electricity Market (NEM) may become overwhelmed by peaks in demand caused by the charging of Electric Vehicles (EVs). Using data from the 2022 Integrated System Plan released by the Australian Energy Market Operator (AEMO), Cornwall Insight Australia have plotted expected...

  • Press Releases

    On-site energy generation could wield significant savings for companies

    Research from Cornwall Insight, included in their report - ‘A corporates guide to decarbonising power’ - has demonstrated how on-site energy generation could help cut corporation energy bills and their carbon footprint. By moving the generation of energy to their site, or through engaging in a private wire arrangement -...

  • Press Releases

    GB sees largest ever renewable energy auction at low prices and low consumer costs

    Today, the government released the results for the fourth round of the Contracts for Difference (CfD) scheme, securing a record 11GW’s of renewable capacity across 93 projects, nearly double the 5.8GW awarded in the 2019 Allocation Round 3. The greatest capacity – almost 7GW – has been secured from new...

  • Press Releases

    Smaller businesses could cut bills and their carbon footprint by teaming up to purchase their energy

    Data from Cornwall Insight, included in their insight paper ‘A corporates guide to decarbonising power’ has shown that small and medium sized enterprises (SMEs) looking to save money on energy bills, and increase their use of renewable energy, could save money by purchasing their energy jointly with other SMEs through...

  • Press Releases

    Bowmark Capital backs buy-out of Cornwall Insight

    Bowmark Capital, the private equity investor, has backed the buy-out of Cornwall Insight, a leading provider of research, data and analysis to the energy sector. Cornwall Insight’s publications, analysis and consulting services enable its customers to understand complex policy change; ensure regulatory compliance; value their assets; and enhance their investment...

  • 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...

  • Press Releases

    Price Cap predictions soar as EU sanctions on Russia cause volatility in the wholesale market

    Cornwall Insight’s forecast for the October (Q4 2022) Default Tariff Cap has increased to £2,879 for an average consumer, as Russian oil sanctions cause renewed uncertainty across the energy market. The predictions for the January (Q1 2023) Cap are even costlier rising to over £2,900 for the first time. While...

  • 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...

  • Press Releases

    Renewables developers forced to raise project bids to protect themselves against financial risks

    Cornwall Insight and Wind Energy Ireland analysis has found that renewable developers in Ireland are being forced to place auction bids for projects which significantly exceed many other European countries, in order to protect themselves against several financial risks. In turn increasing consumer bills and potentially impacting the scale of...

  • Press Releases

    UK Government must spend £20bn on energy battery storage to meet 2030 renewables targets

    Modelling from Cornwall Insight on Great Britain’s (GB) Power Market out to 2030 has shown that between 2025 and 2030 the government must spend nearly a fifth (18%) of its total energy technologies investment, which includes solar, wind, nuclear and Carbon Capture and Storage (CCUS), on energy storage batteries, if...

  • Press Releases

    Cornwall Insight’s response to the Queen’s Speech

    Gareth Miller, CEO at Cornwall Insight:   ”The Energy Bill proposed in the Queen’s Speech today is a logical conclusion of policy development in the period since the net zero commitment was made in the summer of 2019. It accommodates support for the government’s preferred production technologies alongside more recent...

  • 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...

  • Press Releases

    Energy prices to remain significantly above average up to 2030 and beyond

    Research from Cornwall Insight looking at Great Britain’s (GB) Power Market out to 2030 has shown energy prices will remain in excess of £100/MWh annually. This is significantly above the five year pre-2021 historic average of £50/MWh in Winter and the even lower prices in pre-2021 Summer. Cornwall Insight’s Benchmark...

  • 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...

  • Press Releases

    Wind generation is a double-edged sword for Australia

    Following the Victorian Government’s announcement of Australia’s first offshore wind targets1 as part of its transition towards a net-zero emission future, Cornwall Insight Australia have released research showing the impact wind generation has on energy wholesale prices. The data shows that while high levels of wind generation lower the median...

  • Press Releases

    Solar pipeline has grown 298% since 2020

    Between April 2020 and March 2022 Cornwall Insight’s Renewables Pipeline Tracker report has shown the total capacity of solar PV projects classed as either “application submitted” or “awaiting construction” has increased by 298%, while the equivalent for onshore wind has risen by 17%. This overall growth translates into an average...

  • Press Releases

    Cornwall Insight releases latest Winter price cap predictions as Summer 2022 cap introduced

    Today our experts at Cornwall Insight are releasing their latest predictions for the average household’s Winter 2022/23 Default Tariff Cap, as the Summer 2022 54% rise comes into force. The winter figures show a predicted increase of over £600 from today’s rise, and would mean that energy prices would have...

  • Press Releases

    UK falling behind Germany and South Korea in its plan to increase low-carbon hydrogen and reach net zero

    Research conducted by Cornwall Insight into countries that have branded themselves as potential leaders in the new hydrogen economy, has seen the UK rank 5th out of 15 countries. The low-carbon hydrogen index explores countries with a strong potential for production or consumption of the fuel. Germany tops the index...

  • Press Releases

    Summer energy prices in Ireland to remain above seasonal average until 2029

    Research from Cornwall Insight looking at the All-Island Power Market outlook to 2030, has shown that gas prices across both Northern Ireland and the Republic of Ireland will vary significantly between the seasons, with the summer months seeing much higher prices, despite the lower demand. Between 2022 and 2030 modelling...

  • Press Releases

    Only a quarter of EV drivers on time of use tariffs despite significant opportunity for savings

    Research from Cornwall Insight has found only a quarter of private electric vehicle (EV) drivers have made the switch to lower priced time of use tariffs, despite many drivers seeing their household electricity demand double after making the switch to an EV. Time of use tariffs – where p/kWh rates...

  • Press Releases

    Jump in energy prices leaves price cap predictions at over £2,900 a year

    Today’s significant rise in the price of wholesale gas has once again sent predictions for the Winter Default Tariff Cap rocketing upwards, with Cornwall Insight now predicting the cap will rise in October to over £2,900 a year for an average user. The price cap has been extremely volatile over...