Russia

  • 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

    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    The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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

    Cornwall Insight’s response to the announcement of the Energy Bill Discount Scheme

    Gareth Miller, CEO at Cornwall Insight said: “Yesterday, the government announced that the Energy Bill Relief Scheme (EBRS) would be replaced by a less supportive Energy Bill Discount Scheme (EBDS) from April 2023. The government have been managing expectations on reducing support levels for business energy costs for several months...

  • Press Releases

    European gas shortages to keep wholesale prices high this winter and next

    New modelling from Cornwall Insight included in our report - ‘Another winter of discontent?’ -  has shown wholesale gas prices this December have more than doubled since November and are significantly higher than this time last year. The report forecasts this trend could continue throughout the winter and beyond (Figures...

  • 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

  • Media Mentions

    Politics East| Energy Price Guarantee

    Our CEO Gareth Miller was a guest on Politics East, discussing the new Energy Price Guarantee and what this means for domestic and non-domestic consumers. Politics East

  • 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...

  • 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...

  • Media Mentions

    FT| Energy Prices to stay high until 2024

    Cornwall Insight warned that the price cap was likely to remain significantly above £3,000 until 2024, with Cornwall Insight's Craig Lowrey being the first to predict the longevity of the increased prices. FT

  • 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...

  • Press Releases

    Cornwall Insight comments on its January Default Tariff Cap forecast rising to £3,000 for a typical user

    Data reported on Monday evening (20/06) from Cornwall Insight forecast that the Default Tariff Cap for Q1 2023 (Jan-Mar) will rise to £3,003 per year for a typical user, with the last quarter of 2022 Q4 (Oct-Dec) predicted to be £2,980. The rise means an average household will pay just...

  • 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

  • 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

    We must focus on cutting energy bills now, if we want support for net zero in the future

    Before conflict erupted in the Ukraine, it was clear that a long-term restructuring of our energy markets to deliver net zero sustainably, with security was essential. We now see a focus on accelerating plans, as the current crisis imposes greater urgency. But results of strategies aiming at outcomes over periods...

  • 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...

  • Press Releases

    Cornwall Insight comments on the impact of sanctions against Russia on the energy market

    Dr Craig Lowrey, Senior Consultant at Cornwall Insight said: “The reliance of Europe on Russian gas will mean any economic sanctions which affect supply levels are likely to have an immediate and potentially longer-term impact on gas prices. “While the UK is not dependent on gas from Russia, and should...