Wholesale prices

  • Press Releases

    Wholesale price hikes and Ofgem updates raise price cap forecast

    New Default Tariff Cap (price cap) forecasts from Cornwall Insight reveal a rise in predictions for both the July and October 2024 price cap periods against previous forecasts. Predictions for both quarters have risen by around 7%1, with a typical household2 now expected to pay £1,560 from July and £1,631...

  • Press Releases

    Cornwall Insight responds to the announcement of the April price cap

    Ofgem has today announced the April Default Tariff Cap (price cap) at £1,690 a year for a typical dual fuel consumer1. This is a 12% decrease from January’s cap set at £1,928 a year. A healthy flow of gas across the Atlantic, coupled with a relatively mild winter, has seen...

  • 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    The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts.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 release price cap forecasts for 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    The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts. Prior to the introduction of the October - December 2023 Default Tariff Cap (price cap), Cornwall Insight has announced its forecasts for 2024. Our new figures predict...

  • Press Releases

    Cornwall Insight’s response to the announcement of the October price cap

    The predictions for the Default Tariff Cap in this piece are out of date please click HERE to find our most up to date forecasts. Ofgem has today announced the October Default Tariff Cap (price cap) at £1,923 a year for a typical dual fuel consumer1 for the final three months of...

  • Media Mentions

    The Martin Lewis Money Show| Price cap

    Martin Lewis used our price cap data on his money show to help consumers make informed decisions about the new fixed rate tariffs hitting the market. The Martin Lewis Money Show - 39.50

  • Media Mentions

    This is Money/Daily Mail| Energy prices

    Wholesale energy prices are falling, however the July price cap level shows bills still remaining above historic averages, Head of Relationship Development Robert Buckley spoke to This is Money on why bills are not reducing faster. This is Money/Daily Mail

  • Media Mentions

    Radio 4 Today| Price Cap

    Our Senior Consultant Kate Mulvany was interviewed following Ofgem's announcement of the July price cap. Kate delved into the reasons behind the reduction in the price cap, shed light on the anticipated trajectory of customers' bills in the coming months, and explored the factors that could potentially influence energy prices....

  • Media Mentions

    Reuters| Price Cap

    Our Principal Consultant, Craig Lowrey, was featured in Reuters, emphasising the need for cautious optimism regarding the energy crisis. While bills were projected to decrease, Craig cautioned that they would likely remain higher than pre-pandemic averages for the foreseeable future. Reuters

  • 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,...

  • Press Releases

    Cornwall Insight release price cap predictions for July and October 2023

    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. Prior to the introduction of the April-June 2023 Default Tariff Cap (price cap), Cornwall Insight are releasing our latest predictions for the third and fourth quarters of...

  • Press Releases

    Integrated energy solutions could cut cost of UK wholesale market by 25%

    Modelling from Cornwall Insight has shown that in 2035 widespread use of integrated energy solutions could save the UK's wholesale energy market £13bn per year, representing a 25% cost reduction. The data is included in the independent research paper ‘Integrate to Zero’ prepared by Cornwall Insight and commissioned by the...

  • Press Releases

    Cornwall Insight release final forecast for the April price cap

    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. Cornwall Insight has released the final prediction for the April Default Tariff Cap (price cap) following the closure of the observation window1, on 17 February. We are...

  • Press Releases

    Millions of households could switch their energy supplier in second half of 2023

    The number of households switching their energy supplier could rise from July 2023, as falling energy wholesale prices coupled with reduced government support look set to provide suppliers with the chance to offer millions of domestic customers more competitive deals. Since the start of winter, the default tariff cap, or...

  • Media Mentions

    Radio 4 ‘The Briefing Room’| Why are fuel and energy prices dropping?

    Kate Mulvany, Senior Consultant at Cornwall Insight, discussed the unexpected benefits of the recent winter for the energy market and the factors contributing to the decrease in wholesale prices with David Aaronovitch and Javier Blas. BBC Radio 4's 'The Briefing Room' - Listen at 06.05

  • Press Releases

    Winter 2023-24 price cap forecasts fall further below 2022-23 EPG, but long-term prospects remain uncertain

    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. The latest forecasts for the Default Tariff Cap (price cap) released by Cornwall Insight, have shown energy bill predictions for a typical household1 have fallen to £3,208...

  • Media Mentions

    Current+| long-term power prices

    Following the release of our fourth 2022 GB Power Market Outlook to 2030 our Senior Modeller Tom Edwards spoke to Current+ on why our modelling predicted power prices were unlikely to reach pre-2021 levels this decade. Current+

  • Press Releases

    Drop in power price predictions up to 2030 but prices to remain above pre-pandemic levels for next decade

    New data from Cornwall Insight has shown a drop in our predictions for power prices up to 2030 as Europe secures alternative energy supplies to compensate for reduced gas flows from Russia. The data included in our fourth 2022 – GB Power Market Outlook to 2030 – has shown price...

  • Media Mentions

    BBC News Online| Falling wholesale market lowers price cap forecasts

    Our first price cap predictions for 2023 were revised downward due to decreasing wholesale prices. Despite the decrease, our Principal Consultant Dr Craig Lowrey warned in a BBC article that even if energy prices remain low, government spending related to the Energy Price Guarantee will likely be passed on to...

  • Press Releases

    Drop in wholesale energy prices sees price cap predictions fall below the Energy Price Guarantee for second half of 2023

    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. The latest forecasts for the Default Tariff Cap (price cap) released by Cornwall Insight, have shown energy bills for a typical household are predicted to be below...

  • Media Mentions

    Daily Mail| Long-term wholesale prices high

    New modelling from Cornwall Insight included in our report – ‘Another winter of discontent?’ - was covered in the Daily Mail. Matthew Chadwick spoke on why the heavy reliance on foreign imports in the UK makes the country vulnerable to global rises. Daily Mail

  • Press Releases

    Cornwall Insight responds to the announcement of the January Price Cap

    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. Craig Lowrey, Principal Consultant at Cornwall Insight said: “The Energy Price Guarantee (EPG) will shield consumers from the January price cap of £4,279 announced by Ofgem today,...

  • Press Releases

    Cornwall Insight release final Default Tariff Cap and EPG cost predictions prior to Ofgem announcement tomorrow

    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. Cornwall Insight are releasing our final forecast for the January 2023 Default Tariff Cap (price cap), due to be announced tomorrow (24 November).  We are also releasing...

  • Press Releases

    Cornwall Insight forecasts a fall in the April 2023 Price Cap but prices remain significantly above the Energy Price Guarantee

    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. Cornwall Insight’s latest Default Tariff Cap (price cap) forecasts for April – June 2023 (Q223) have dropped by over £600 since the last widely released figures on...

  • Press Releases

    Increase in renewables sees winter energy prices drop below historic average by 2027

    Data from Cornwall Insight Ireland’s third 2022 - ‘All-Island Power Market Outlook to 2030’ - has forecast Ireland is set to reach its 80% renewable target by 2030, with the increased energy security helping to stabilise the market and lower long-term energy prices. The report covering both Northern Ireland and...

  • Media Mentions

    Times| Gas-fired generators

    Tom Edwards, a Senior Modeller at Cornwall Insight gave his insight to the Times on gas-fired generators being spared the windfall tax and why more expensive, inefficient gas plants were the ones setting the power prices. Times

  • Press Releases

    Government business energy scheme will cost up to £25bn

    Robert Buckley, Head of Relationship Development at Cornwall Insight said: "The new government scheme will bring significant relief to many businesses and public sector organisations as they try to navigate the unprecedented energy rises. Economically it was important that government took action. "The reduction in energy costs will be substantial....

  • Press Releases

    Cornwall Insight responds to the government energy announcement

    Gareth Miller, CEO at Cornwall Insight said: “Cornwall Insight welcomes the government’s objective to address the affordability of energy for both domestic and business consumers in the UK. The policy announcements made today will alleviate some of the hardship consumers have been concerned about for many months.   “On the...

  • Press Releases

    Price cap to remain significantly above £3,000 a year until at least 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. New forecasts for the Default Tariff Cap (price cap) from Cornwall Insight have shown a typical household’s energy bill will be well over £3,000 a year for...

  • 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 -...