Supplier exits

  • Press Releases

    Almost half of energy suppliers have left the market

    Research from Cornwall Insight's 'Domestic supplier insight service' show that while consolidation has been a market feature in recent years, 2021 now holds the record of the most supplier exits in one year. At the start of the year, we had 47 domestic suppliers - 5 large, 12 medium and...

  • Press Releases

    Energy price cap predicted to rise to £1,660

    As a result of wholesale gas and electricity prices continuing to reach new records, Cornwall Insight’s modelling for the Summer 2022 default tariff price cap has risen once again, with its indicative forecast climbing to approximately £1,660. Despite a long way to go and a lot of uncertainty to resolve...

  • Media Mentions

    This is Money | More than a million households have seen their energy firm go bust in the last few years

    Our analysis on the domestic energy market showing 1.7% of domestic energy customers have been rescued by the Supplier of Last Resort process in the last two years, featured in This is Money. The first half of 2021 has already seen 1.5% of customers in the domestic retail market being served...

  • Press Releases

    900,000 domestic customers impacted by SoLR over the last two years

    Analysis by Cornwall Insight shows that 1.7% of customers in the retail energy market have been with suppliers subject to the Supplier of Last Resort mechanism (SoLR) process. Between 2020 and 2019, 887,000 domestic customers were supplied by a company that exited the market via SoLR, and in 2021 alone,...

  • Media Mentions

    Current | Risk of RO mutualisation

    Our predictions of RO Mutualisation was featured in Current. Tim Dixon explained that there is a potential shortfall in the RO buy-out fund of approximately half of the £16.94 million mutualisation threshold. Contrary to the two previous compliance periods where the mutualisation trigger was breached, it is not currently expected...

  • Press Releases

    Heightened risk of suppliers failing to meet their Renewables Obligation

    Latest forecasts from Cornwall Insight show a potential shortfall in the Renewables Obligation (RO) buy-out fund of approximately half of the £16.94mn mutualisation threshold. Supplier exits to date alone are not expected to trigger the mutualisation process. However, there is a heightened risk that some active suppliers may now be...

  • Press Releases

    23% of the cheapest suppliers have exited the market since 2017

    Latest research from Cornwall Insight’s Domestic Tariff Report highlights that since 2017, just under a quarter (23%) of suppliers with the cheapest tariff have left the market either through Ofgem’s Supplier of Last Resort (SoLR) process or by being acquired by another supplier. Between the years 2015 to 2017 on...

  • Press Releases

    Suppliers use energy market turbulence to gain market share

    Analysis from Cornwall Insight shows that despite the household energy supplier market experiencing a turbulent time over the past 12 months, several companies have used this to their advantage to increase their market share. In fact, figures from Cornwall Insight’s Domestic Market Share Survey show that the recent spate of...

  • Press Releases

    More than £40mn to be recovered from consumers due to failed suppliers Renewable Obligations

    As generators are starting to receive their final Renewables Obligation Certificates (Rocs) for generation during the compliance period (CP)17 (2018-19) of the Renewables Obligation (RO), eyes will soon be turning to suppliers regarding the upcoming compliance deadline this summer. Latest calculations from Cornwall Insight’s Long-term Roc Market Forecast, predict that...

  • Press Releases

    Renewable Obligation mutualisation predicted to be almost £44mn

    To protect the financial integrity of the Renewables Obligation (RO), a mutualisation mechanism kicks-in where sufficient missing payments creates a shortfall in the buy-out fund. Mutualisation recovers these missing payments from the remainder of the supply market. Mutualisation was triggered for Compliance Period (CP) 16 (2017-18) after 14 suppliers failed...

  • Press Releases

    Acquisition prompts next phase of evolution for “challenger” suppliers

    Analysis from Cornwall Insight shows that although the past 12 months have seen several failing suppliers exit the market, a group of small to medium-sized suppliers have seized the opportunity to increase their customer book as a result. The acquisitions by these suppliers have seen them grow significantly. Octopus Energy...