Wholesale prices

  • 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    The predictions for the Default Tariff Cap in this piece are out of date, please click here to find our latest forecasts and commentary on the cap.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...

  • Regulation and policy

    The changing compliance landscape

    In recent months, Ofgem has been increasing its engagement with suppliers to ensure compliance with their supply licences and to deliver more resilient business models. This has been evidenced through a number of actions, such as stress testing suppliers and introducing additional reporting requirements, under the scope of the regulator’s...

  • 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...

  • Home supply and services

    What is the Market Stabilisation Charge?

    The Market Stabilisation Charge (MSC) requires all domestic suppliers acquiring a customer to make a payment to the supplier that is losing the customer. The charge applies to all switches, so suppliers are not obliged to inform competitors which tariff the consumer switched to or from. It is comprised of...

  • Business supply and services

    Ofgem reaches conclusion for the Microbusiness Strategic Review

    The Microbusiness Strategic Review came to a close on 28 March 2022, with four finalised proposals from Ofgem that aim to protect microbusiness consumers and create a more robust framework through which the market can operate. Following the unprecedented rise in wholesale prices and recent geopolitical events, these changes are...

  • Low carbon generation

    High and Volatile: Trends from our Q421 Green Power Forecast

    At the end of January we released our latest Green Power Forecast, projecting renewables generators revenues over a five-year horizon whilst also providing Power Purchase Agreement (PPA) pricing and benchmarking updates, and a survey to gauge the latest renewables market trends. Amid the current “energy crisis” arising from an underlying...

  • Home supply and services

    The risks of short-term interventions distorting long-term incentives in the energy market

    Christmas 2021 was not a time of cheer for the energy industry and its customers. There is acute stress on energy suppliers and consumers from current bills - let alone where they may move to in the coming year. And it seems the political and regulatory debate has moved on...

  • Commercial and market outlook

    Price cap set for 46% rise for Summer 2022, Winter 2022-23 cap may exceed £2,000

    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 Following further highs in wholesale prices and the costs associated with the raft of supplier failures seen in the...

  • Business supply and services

    Have we given up on competition in the retail market?

    “Q: How does 2pm on Wednesday sound? A: Assuming we still have a functioning energy market that'd be great”.  It’s not really what you expect to see in an email at 5pm on a Friday when trying to arrange a call. But then these are certainly not normal times. In this Energy Perspective, we will...

  • Power and gas networks

    Electricity and gas tariffs on the rise in Ireland

    The majority of energy suppliers in the Republic of Ireland have enacted several price rises in one or both electricity and gas tariffs. Figures collated by Eurostat show in the latter half of 2020, Ireland already ranked fourth highest for electricity prices in the EU and seventh highest for gas...

  • Announcement

    BBC interview | Robert Buckley discusses Ofgem’s price cap

    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 Robert Buckley spoke to Felicity Hannah on BBC Five Live’s Wake up to Money programme ahead of Ofgem’s announcement...

  • Home supply and services

    BBC Radio Norfolk interview: The drop in oil price and the potential effects on customers bills

    Craig Lowrey, one of our Senior Consultants, was live on BBC Radio Norfolk’s airwaves discussing the recent drop in oil prices, following a dispute by Russia and Saudi Arabia over reducing oil production. Craig told listeners that last Friday in response to the Coronavirus hitting global demand for oil, there...

  • Home supply and services

    Rise and fall – regulated price changes afoot

    Despite a high number of suppliers per capita, the largest supplier in the Northern Irish electricity market retains a high market share and a price control. In this week's blog, discuss the recently announced price rise for Power NI, and compare this to the reductions announced in the price cap...

  • Low carbon generation

    Sunny afternoon – Ireland’s wind drought

    As the sun continues to bathe Ireland and Northern Ireland, spare a thought for the System Operator (SO). This enduring, recent (and unlikely) spell of good weather has a noticeable impacted on renewable generation across the island. What Met Éireann termed “dry, settled weather” is due to a high-pressure system...

  • Home supply and services

    Risin’ up – Suppliers increase domestic energy prices

    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. Click here to view full article

  • Home supply and services

    Index of Domestic Energy Supply Costs | February 2018

    The Cornwall Insight Index of Domestic Energy Supply Costs is updated monthly, tracking the costs that electricity and gas suppliers face. It is baselined to a value of 1,000 points in January 2012 and is calculated using Ofgem’s typical domestic consumption values (TDCVs) for medium users. In February 2018 the...

  • Announcement

    Alistair Buchanan | 12 days of Christmas

    For the latest of our 12 Days of Christmas series as we approach issue 600 of Energy Spectrum, we spoke to Alistair Buchanan, Partner and UK Chairman of Power and Utilities at KPMG. Alistair joined KPMG in 2013, following ten years as CEO of Ofgem. It marked a return to...