offshore wind

  • Low carbon generation

    Blowin’ in the Wind: Is offshore wind the answer to Ireland’s net zero future?

    As Ireland works towards achieving net zero by 2050, there is a pressing need to develop additional renewable energy capacity. Offshore wind is likely to be a particularly important sector and, thanks to Ireland’s large offshore exclusive economic zone, presents a valuable opportunity for the Irish economy. Cognisant of this...

  • Regulation and policy

    Calm after the storm although transition begins to lag | 2023 year in review

    This year saw a return to relative calmness after the energy shocks of last year, while governments are playing an increasing role as the rate of new renewable generation lags. Spot pricing was subdued compared to last year, with no significant unexpected outages that caused sustained price spikes. Higher levels...

  • Net zero corporates and ESG

    Race to net zero: Rebuilding investor confidence in the UK

    In our recent insight paper “Race to net zero: Rebuilding investor confidence in the UK”, published on 30 November, we discuss how increased macroeconomic pressures and rising international competition for capital have impacted the UK’s ability to secure investment in renewables and maintain momentum towards net zero. We also investigate...

  • Net zero corporates and ESG

    Long-term regulatory and policy changes needed to avoid stalls to business decarbonisation

    In light of the financial pressures faced by businesses from rising inflation and interest rates, tight supply chains and labour markets, alongside high energy bills, there is a high chance corporate investment in decarbonisation could be in trouble. In Cornwall Insight's latest Insight paper “Business net zero: Making progress in...

  • Commercial and market outlook

    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    The predictions for the Default Tariff Cap in this piece are out of date, please click here to find our latest forecasts and commentary on the cap. Our latest forecasts for the Default Tariff Cap (price cap) have shown energy bill predictions for a typical household1 have fallen to £3,208...

  • Commercial and market outlook

    Tales of the unexpected: what’s happening with gas prices

    The gas sell-off for contracts relating to this winter/spring & coming summer has continued in the last few days. On January 16th alone, contracts closed down c15%-17% on gas contracts for this spring and through into summer. This is despite some analysts predicting that gapping-up would occur on the promise...

  • Business supply and services

    Early implications of the Energy Bill Discount Scheme  

    People are beginning to take in the changes from the business Energy Bill Relief Scheme (EBRS) to the Energy Bill Discount Scheme (EBDS) that are scheduled for the end of March. As we outlined in our release earlier in the week, the government support is to be scaled back significantly....

  • Business supply and services

    Our response to the announcement of the Energy Bill Discount Scheme 

    The government have announced that the Energy Bill Relief Scheme (EBRS) will be replaced by a less supportive Energy Bill Discount Scheme (EBDS) from April 2023. The government have been managing expectations on reducing support levels for business energy costs now for several months and remain under pressure over control...

  • Home supply and services

    Drop in wholesale energy prices sees price cap predictions fall below the EPG 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 latest forecasts and commentary on the cap. Our latest forecasts for the Default Tariff Cap (price cap) have shown energy bills for a typical household are predicted to be below the government’s...

  • Home supply and services

    Why short-term high wholesale prices aren’t the key driver of domestic energy bills

    The current cold snap across most of western Europe has resulted in high wholesale electricity prices. Observed prices in the GB wholesale market are typically higher than those in neighbouring electricity markets, and here we provide an explanation of why this is likely the case but also why short-term periods...

  • Low carbon generation

    RESS 3 consultation: DECC is listening, but the true test will be in the detail of the solutions incorporated 

    The Department of the Environment, Climate and Communications (DECC) published the consultation for the third round of the Renewable Electricity Support Scheme (RESS 3) on 28 October 2022. Some of the issues drawn out in the consultation is a testimony that DECC has its ears on the ground and is...

  • Low carbon generation

    Energy System Reform: Ofgem shares plans for Britain’s energy system

    Against the backdrop of record high and volatile energy prices, Ofgem set out on 8 July its view on key aspects of the GB energy system where it considers significant reform is required to deliver a resilient, low cost, low carbon energy sector. Recent developments in the energy market, such...

  • Low carbon generation

    CfD Auction Secures Greatest Amount Of Renewable Capacity To Date

    Yesterday, the government released the results of the fourth round of the Contracts for Difference (CfD) scheme, securing almost 11GW of renewable capacity across 93 projects, nearly double the 5.8GW awarded in Allocation Round 3 in 2019. The greatest capacity – at 7.0GW - has been secured from new offshore wind projects,...

  • Commercial and market outlook

    Cornwall Insight responds to the announcement of an Energy Bill in the Queen’s Speech

    The Queen’s Speech this week included a much-anticipated announcement that an Energy Bill will be introduced at some point over the next parliamentary session. The Bill is a logical conclusion of policy development in the period since the net zero commitment was made in the summer of 2019. It accommodates...

  • Commercial and market outlook

    Cornwall Insight responds to the publication of the energy strategy  

    The Energy Security Strategy is a very political document that raises as many questions as it answers. There are clear favourites and as much can be read in to what is in the Strategy as what is not. 15 months on from the Powering Our Net Zero Future White Paper,...

  • Low carbon generation

    Are renewables the answer to Ireland’s energy crisis?

    The current crisis in the energy markets may seem like it’s all doom and gloom, every week another electricity or gas supplier announces a price hike with the consumer powerless, at the whim of the global commodity prices. However, offshore wind presents a unique opportunity for Ireland, to both decarbonise...

  • Low carbon generation

    Government opens consultation on Maritime Area Consent for ORE

    On 19 January, the Minister for the Environment, Climate and Communications, Eamon Ryan TD launched a consultation on important aspects of the new Maritime Area Consent (MAC) State consent regime for offshore renewable energy (ORE). This follows the publication of the full text of the Maritime Area Planning (MAP) Act...

  • Energy storage and flexibility

    Unlocking routes to market

    On 19 January 2022, a webinar hosted by Cornwall Insight in partnership with the law firm Weightmans focused on routes to market for renewable projects that may not secure a contract during the fourth allocation round of the 'Contracts for Difference' (CfD) auction, which opened in December 2021. In the...

  • Low carbon generation

    CfD Allocation Round 4 – let the competition begin

    2022 is set to hold what could be the largest Contracts for Difference (CfD) auction to date, Allocation Round (AR) 4, with government aiming to secure around 12GW of new renewables through the scheme. It will see the re-introduction of Pot 1 technologies (“established” technologies such as onshore wind and...

  • Commercial and market outlook

    In the midst of the Australian Energy Transformation Process

    Australia is in the midst of an energy supply and distribution transformation. This transition is twofold and includes not just bridging the gap from conventional fossil fuels to renewable technologies (due to their reduced carbon footprint, lower levelized cost of energy and improved reliability levels by comparation), but also requires...

  • Announcement

    Alert: Budget 2021

    Chancellor Rishi Sunak delivered his Budget on 3 March, a year on from the start of the COVID-19 crisis and his second in the job. Headline announcements included, among others, a sovereign green bond, the UK Infrastructure Bank, a freeze in Carbon Price Support and £20mn for floating offshore wind....

  • Low carbon generation

    New transmission charge forecast will help generators managing cost uncertainty and volatility

    Transmission network use of system (TNUoS) charges represent a significant proportion of operating costs for many renewables generators, often exceeding 50% of annual running costs. For some, as recently highlighted by SSE in a recent report and to Members of the Scottish Parliament, they could present a barrier to investment in generation...

  • Low carbon generation

    Renewables Pipeline Tracker: Higher, faster, stronger – the changing nature of offshore wind

    Having released our October 2020 Renewables Pipeline Tracker report, which covers the latest developments for pipeline renewables sites across GB, this blog explores our recent findings on the pipeline and in particular offshore wind. The Renewables Pipeline Tracker is updated quarterly and includes information across over 1,000 prospective renewables sites...

  • Low carbon generation

    Parties pledge a “revolution in renewables” in draft Programme for Government

    This article was originally published on 14 July 2020 in our ‘Energy Spectrum Ireland’ publication.  The leaders of the Green Party, Fianna Fáil and Fine Gael signed off the draft Programme for Government (PfG) on 15 June. According to the PfG, energy will play a “central role in the creation of...

  • Low carbon generation

    Yes, and..? Fast tracking Irish offshore wind

    The Irish Government’s announcement of seven offshore wind projects being able to apply for planning permission under the (yet to be enacted) Marine Planning and Development Management Bill, 2020 (MPDM) is positive for the Irish offshore wind sector. A consenting regime is one of the key pillars of any successful...

  • Low carbon generation

    Sail away: Offshore wind vs. RESS

    Last week the European Commission proposed a “Climate Law” enshrining in legislation the objective of achieving climate neutrality by 2050. In this week’s blog, we consider the role of wind in achieving this goal, and Irelands role in the European Green Deal. As we would expect, the green deal identifies...

  • Low carbon generation

    CfD proposals turn the tide, but how many boats will rise remains unclear

    BEIS announced on 2 March a consultation on wide-ranging changes to the Contract for Difference (CfD) scheme, including the re-integration of Pot 1 technologies. This is a significant change in the direction of renewables policy. Our CEO Gareth Miller, who previously worked on designing and implementing the CfD contract in...

  • Low carbon generation

    Editor’s Pick | Talkin’ bout a revolution: What next for the CfD?

    This article was originally published in Energy Spectrum Issue 685 on 7 October 2019. The Contract for Difference (CfD) results for Allocation Round 3 (AR3) once again provided some striking results for the industry to ponder. In this Energy Perspective, we reflect on the success and consider what the results mean for...

  • Low carbon generation

    Scottish government calls for auction system review after CfD AR3 results

    On 20 September, BEIS announced the results of the Contracts for Difference (CfD) Allocation Round 3 (AR3). The auction results cleared at record low prices with 2023-24 delivery year prices at £39.65/MWh and 2024-25 prices at £41.61/MWh. The results drew criticism from the Scottish government despite projects in remote islands...

  • Low carbon generation

    Record low clearing prices in Contract for Difference Allocation Round 3

    Record low clearing prices in Contracts for Difference (CfD) Allocation Round 3 indicate the continued and rapid cost reductions for offshore wind resulting from competitive auctions. Prices below £40/MWh (in 2011-12 money) are extremely low in the context of previous auctions. Even when converted to 2018 money, these equate to...