Over recent weeks a number of domestic electricity suppliers in Ireland have announced price increases as a result of higher wholesale energy costs.
In this week’s blog, we look at these increases and examine the drivers behind them.
Related thinking
Low carbon generation
Government publishes Ireland’s Climate Action Plan 2023
This article is an extract from our Energy Spectrum Ireland service, which is a monthly publication and weekly news bulletin covering key developments in the Irish and Northern Irish energy sectors. If you are interested, we are currently offering a free trial which you can sign up to by filling...
Commercial and market outlook
Delays to onshore wind investment increase long-term power prices in Ireland
Note: Cornwall Insight Ireland release the 'All-Island Power Market Outlook 2023' on a quarterly basis. The increase in long-term power prices refers to the comparison with our Q3 Power Market Outlook released in October 2022. Data from our fourth - ‘All-Island Power Market Outlook to 2030’ – has forecast that...
Net zero corporates and ESG
Q4 2022 All-Island Power Market Outlook to 2030 overview
This report provides an annual overview of trends for the All-Ireland Power Market out to 2030 using outputs from Cornwall Insight’s latest forward curve for the All-Island (AI) Single Electricity Market (SEM) covering Northern Ireland and the Republic of Ireland. This publication is based on comprehensive market and asset-level power...
Business supply and services
Predicted fall in the April 2023 Price Cap but prices remain significantly above the EPG
Our latest Default Tariff Cap (price cap) forecasts for April – June 2023 (Q223) have dropped by over £600 since the last widely released figures on 17 October1. The average consumer is now predicted to pay £3,702 from April, when the Energy Price Guarantee (EPG) comes to an end. Forecasts...
Net zero corporates and ESG
Q3 2022 All-Island Power Market Outlook to 2030 overview
This report provides an annual overview of trends for the All-Ireland Power Market out to 2030 using outputs from Cornwall Insight’s latest forward curve for the All-Island (AI) Single Electricity Market (SEM) covering Northern Ireland and the Republic of Ireland. This publication is based on comprehensive market and asset-level power...
Home supply and services
Cornwall Insight comments on the announcement of the October price cap
If you are a consumer seeking support with their energy bills, please read our blog here: https://www.cornwall-insight.com/support-for-consumers-concerned-about-rising-energy-bills/ The rise in the Default Tariff Cap (price cap) was unfortunately inevitable, as UK bills continue to be the victim of an unstable and unpredictable global market. While there is still some time until...
Home supply and services
Cornwall Insight release final predictions for October’s Price Cap
If you are a consumer seeking support with their energy bills, please read our blog here: https://www.cornwall-insight.com/support-for-consumers-concerned-about-rising-energy-bills/ Cornwall Insight are releasing our final predictions for October’s Default Tariff Cap (Price Cap) prior to Ofgem’s announcement on Friday 26th August. Predictions show a typical household1 will be paying £3,554 equivalent per year...
Home supply and services
Price cap forecasts for January rise to over £4,200 as wholesale prices surge again and Ofgem revises cap methodology
If you are a consumer seeking support with their energy bills, please read our blog here: https://www.cornwall-insight.com/support-for-consumers-concerned-about-rising-energy-bills/ Our new forecasts for the January Default Tariff Cap have risen by over £650(1), meaning a typical household is now predicted to pay the equivalent of £4,266 a year for the three months to...
