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Tariffs
-
Press Releases
Cheapest fixed energy tariff £130 more than April price cap forecasts
Households choosing to sign up to any of the fixed energy tariffs currently available, could end up paying around £130 more on average than the projected April Default Tariff Cap (price cap), according to Cornwall Insight’s Domestic Tariff Report. Our latest price cap forecasts1 show the cap dropping by 16%...
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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...
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Press Releases
Gap between cheapest energy deals and price cap shrinks to the lowest ever level
Research from Cornwall Insight’s ‘Domestic tariff report’ highlights the level of savings made by a customer switching to a new energy tariff has reduced significantly. In fact, the difference between the ten cheapest tariffs and the current default tariff cap for September 2021 stands at just £11/year, compared to £291/year...
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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...
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Media Mentions
This is Money | Fixed tariffs
Anna Moss, Head of Consumer Markets, spoke to This is Money about the current energy prices and what customers should do if their fixed tariffs end. Anna explained that the usual process when a fixed deal ends is that customers would usually switch to a cheaper option. However, there aren't...
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Press Releases
Energy prices rise for SMEs as wholesale prices rise
In Q321, the average small and medium enterprise (SME) gas contract was priced at the highest values since Cornwall Insight records began in 2012 – reaching 4.98p/th for 1-year acquisition contracts that assume a 25MWh annual consumption. Research from Cornwall Insight’s Pricing in the SME gas and power markets report...
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Media Mentions
Business Motoring | EV feature
Katie Hickford Analyst at Cornwall Insight featured in Business Motoring's EV guide. She shared her thoughts on the current choice of electric vehicle (EV) tariffs on the market. Katie explained that at the current choice of tariffs available to new EV owners is small, with a total of 11 suppliers...
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Media Mentions
Fleet News | EV charging tariffs
Our research on the number of electric vehicle (EV) tariffs featured in Fleet News. Research showed around 17 EV tariffs are available, with some of the tariffs still in testing phases and not available to all customers. On top of this number, there are 11 Time of Use (ToU) EV...
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Press Releases
Does the number of EV tariffs match the EV burgeoning sales?
Figures from the Society of Motor Manufacturers and Traders Ltd (SMMT) showed that combined, Battery Electric vehicles (BEVs) and plug-in hybrids (PHEVs) accounted for 17.2% of new car sales in June, with BEVs accounting for more than one in 10 registrations. Despite the boom in electric vehicle (EV) sales, Cornwall...
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Media Mentions
Daily Express | Default tariff cap rising
Our predictions on the default tariff price cap rising when Ofgem next looks at it was featured in the Daily Express. Rising wholesale energy and commodity prices are set to increase the cap by at least another £100. Commenting on the prediction Craig Lowrey Senior Consultant at Cornwall Insight said...
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Media Mentions
Energy News Live | Energy prices for SME rise
Our research showing prices rising for Small and medium enterprises (SMEs) was featured in Energy News Live. Electricity prices for SMEs reached record highs in the second quarter of the year. Discussing the reasoning behind the significant price rise Molly Lloyd Senior analyst at Cornwall Insight explained the rise in...
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Press Releases
SME power prices reach record highs
Small and Medium Enterprises (SME) power prices have continued to rise in Q221, reaching the highest level since our records began in Q212, according to the latest research from Cornwall Insight’s Pricing in the SME power market report. Over the past quarter, prices have increased by 5.82% to average at...
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Media Mentions
The Guardian | Energy bills on the rise
Price cap analysis from Cornwall Insight was showcased in The Guardian. The analysis shows that for the coming winter, the regulator is expected to lift its cap for the average dual-fuel energy bill from £1,138 a year to £1,250 a year. Discussing the reason behind the rise, Craig Lowrey said...
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Press Releases
More than 65% of households are now supplied by green energy companies
According to the latest research from Cornwall Insight, households with ‘green’ suppliers – those only offering electricity tariffs backed by Renewable Energy Guarantee of Origin (REGOs) certificates – rocketed from less than 20% in 2017 to 65% 2021. This percentage would be even higher if green tariffs from suppliers that...
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Press Releases
The gap between cheapest energy fixed tariff and price cap narrows
Research from Cornwall Insight’s ‘Domestic supplier insight service reveals the gap between the cheapest tariff on the market and the default tariff price cap has reduced to its lowest level since February 2019, standing at £219/year. This is 40% less than at the end of April 2020 when it was...
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Media Mentions
Smart Energy International | Time of Use tariffs uptake
Research from our ‘Connected homes insight service’ which found both suppliers and consumers have made tentative steps to explore Time of Use tariffs was featured in Smart Energy International. Despite the low adoption at the moment, ToU offerings could become as popular as single-rate tariffs over the coming decades. According...
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Press Releases
Uptake of Time of Use tariffs still low, but set to increase
Research from Cornwall Insight's 'Connected homes insight service' has found both suppliers and consumers have made tentative steps to explore Time of Use (ToU) tariffs. However, adoption of these tariffs is anecdotally low at the moment, and ambitious innovation and uptake has been held back by slow industry processes and...
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Press Releases
Cornwall Insight comments on Ofgem’s price cap announcement
Commenting on Ofgem’s announcement of the default price cap falling by 7% to £1,042 per year for the six months effective from 1 October 2020, Robert Buckley, Head of Relationship Development at Cornwall Insight, said: “This is a dramatic reduction and sees the price cap fall to its lowest level...
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Press Releases
Price cap declines but is expected to fall further still
Commenting on today’s Ofgem announcement that the default price cap would decrease by £17 to £1,162 for the six months effective from 1 April 2020, Robert Buckley Head of Retail and Relationship Development at Cornwall Insight, said: “Due to the mild winter the UK has experienced, it will have come...
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Press Releases
Smart Export Guarantee tariffs Vs market values
On 1 January 2020, the Smart Export Guarantee (SEG) came into effect. The SEG mandates that electricity suppliers with over 150,000 customers offer at least one tariff for power exported to the grid from renewable generators smaller than 5MW. Obligated suppliers are required to provide tariffs with rates above 0p/kWh...
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Press Releases
Middle East tensions have the potential to increase energy bills
The risk of direct military conflict between the US and Iran following missile strikes by US forces on Iranian General Qasem Soleimani in Baghdad on 3rd January has been reflected in the oil market, given the potential disruption to supplies from the region. Such volatility is set to reverberate across...
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Press Releases
Price cap falling but set to rise in April 2020
Today, Ofgem announced the default price cap would decrease by £75 to £1,179 per year for the six months effective from 1 October 2019. However, this is unlikely to last with Cornwall Insight’s Price Cap Predictor showing the default price cap is set to increase by at least £30 for...
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Press Releases
Price cap predicted to fall by at least £80/year
The latest forecasts from Cornwall Insight’s Tariff Cap Predictor – a quarterly report modelling the future default tariff periods – predict the price cap could fall by a significant £83 per year to £1,171 – from its current level of £1,254 – when Ofgem makes its readjustment in August. This...
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Press Releases
Energy tariff differences across Scotland
The latest tariff data from Cornwall Insight – Pixie Energy’s parent company – reveals a considerable variation between energy tariffs in northern Scotland compared to that of southern Scotland. The graph below shows the cheapest available deals for three tariff types – fixed, standard variable (SV) and prepayment (PPM) –...
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Press Releases
Standard variable and fixed tariffs gap widen to highest in three years
Last month many suppliers started to anticipate the price cap rising to £1,254/year on 1 April by increasing their standard variable tariffs (SVTs) to meet the new cap level. As a result, of this upward pressure on SVTs, the gap between default and market-based fixed tariffs increased. Research from Cornwall...
