Forecasts

  • Regulation and policy

    Our response to the Spring Budget

    Once again, a UK budget has seen some significant energy policy announcements that will stir up conversation and opinion across the country. It also shows how reining in energy prices is seen as key to restraining inflation. The pre-budget announcement to maintain the Energy Price Guarantee (EPG) at £2,500 had...

  • Home supply and services

    Our response to the publication of the REMA consultation summary

    On 7th March the government published the summary of responses received from its Review of Electricity Market Arrangements (REMA) consultation. The responses received showed the industry has expressed strong support (92% agreement) for energy market reform that prioritises decarbonisation, security of supply, and cost-effectiveness. Respondents also agreed that the current...

  • Home supply and services

    Our response to the announcement of the April price cap

    The predictions for the Default Tariff Cap in this piece are out of date, please click here to find our latest forecasts and commentary on the cap. Following the announcement by Ofgem that April’s Default Tariff Cap (price cap) will fall to an average £3,280 per year, nearly a £1,000 drop for...

  • Home supply and services

    Our 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    The predictions for the Default Tariff Cap in this piece are out of date, please click here to find our latest forecasts and commentary on the cap. We have released the final prediction for the April Default Tariff Cap (price cap) following the closure of the observation window1, on 17 February. We...

  • Business supply and services

    Predicted fall in the April 2023 Price Cap but prices remain significantly above the EPG  

    The predictions for the Default Tariff Cap in this piece are out of date, please click here to find our latest forecasts and commentary on the cap. Our latest Default Tariff Cap (price cap) forecasts for April – June 2023 (Q223) have dropped by over £600 since the last widely released figures...

  • 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...

  • Home supply and services

    Price cap to remain significantly above £3,000 a year until at least 2024

    Our latest forecasts for the Default Tariff Cap have shown a typical household’s energy bill will be well over £3,000 a year for the next 15 months, with the average bill over Summer 2023 (Apr-Sep) sitting at £3,649 – just over £300 per month. We have also updated the predictions...

  • Home supply and services

    Default Tariff Cap forecast climbs further as Ofgem announcement looms

    Due to market volatility, world events and Ofgem's new methodology, our price cap prediction has changed. Please see the latest predictions via our blogs page here Updated price cap figures here As the energy market continues to grapple with global political and economic uncertainty, the corresponding high wholesale prices, and...

  • Home supply and services

    New forecasts for the January Default Tariff Cap rise to over £3,000 for a typical user

    Due to market volatility, world events and Ofgem's new methodology, our price cap prediction has changed. Please see the latest predictions via our blogs page here Updated price cap figures here This week Cornwall Insight released its updated forecasts for the Default Tariff Cap. Q1 2023 which runs from January...

  • Low carbon generation

    Wholesale price “cannibalisation effect” puts economics of renewables at risk

    Our research has revealed that as capacity and output from solar and windfarm projects increases in coming years, the “cannibalisation effect” is set to lower wholesale power prices to the extent that by the 2030s it could put at risk the viability of future renewables. With the withdrawal of government...

  • Low carbon generation

    Q118 FiT costs confirmed at £290mn

    Suppliers were invoiced for Q118 (January – March) Feed-in Tariff levelisation on 25 April, confirming total scheme costs for the quarter at just under £290mn. This consisted of £281.7mn in generation payments, £7.7mn in deemed export payments and £0.3mn in qualifying costs that help cover the supplier cost to administer...