• Press Releases

  UK Government must spend £20bn on energy battery storage to meet 2030 renewables targets

  Modelling from Cornwall Insight on Great Britain’s (GB) Power Market out to 2030 has shown that between 2025 and 2030 the government must spend nearly a fifth (18%) of its total energy technologies investment, which includes solar, wind, nuclear and Carbon Capture and Storage (CCUS), on energy storage batteries, if...

• Press Releases

  Cornwall Insight’s response to the Queen’s Speech

  Gareth Miller, CEO at Cornwall Insight:   ”The Energy Bill proposed in the Queen’s Speech today is a logical conclusion of policy development in the period since the net zero commitment was made in the summer of 2019. It accommodates support for the government’s preferred production technologies alongside more recent...

• Press Releases

  Rushing into reform of the electricity market risks significantly inflating costs

  The Review of Electricity Market Arrangements [REMA] announced by the government in its recently published Energy Security Strategy must be undertaken with a strong focus on protecting investor momentum if the government are to meet their net zero, energy security and consumer affordability objectives. REMAs remit is wide and includes...

• Press Releases

  Energy prices to remain significantly above average up to 2030 and beyond

  Research from Cornwall Insight looking at Great Britain’s (GB) Power Market out to 2030 has shown energy prices will remain in excess of £100/MWh annually. This is significantly above the five year pre-2021 historic average of £50/MWh in Winter and the even lower prices in pre-2021 Summer. Cornwall Insight’s Benchmark...

• Press Releases

  Hopes fade for a significant price cap drop in 2023 and 2024

  Cornwall Insight’s Default Tariff Cap predictions for the Summer 2023 and Winter 2023/24 periods have risen by 15% in just two weeks. The figures, compiled from data as of market close on 12 April, show predictions of £2,284 (£2,040 30/03) and £2,233 (£2,001 30/03) respectively for the two periods, representing...

• Press Releases

  Cornwall Insight responds to the publication of the energy strategy

  Gareth Miller, CEO at Cornwall Insight said: “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...

• Press Releases

  Third party gas bill charges rise by 33% as consumers pay the price for failed suppliers

  Third-party charges (TPCs) on domestic household energy bills have jumped by 33% for gas and 9% for electricity in 2022-23, compared with 2021-22 prices, according to Cornwall Insight’s Third Party Charges Report. The rise is driven predominantly by an increase in network charges due to the collection of unprecedented Last...

• Press Releases

  Wind generation is a double-edged sword for Australia

  Following the Victorian Government’s announcement of Australia’s first offshore wind targets1 as part of its transition towards a net-zero emission future, Cornwall Insight Australia have released research showing the impact wind generation has on energy wholesale prices. The data shows that while high levels of wind generation lower the median...

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  Solar pipeline has grown 298% since 2020

  Between April 2020 and March 2022 Cornwall Insight’s Renewables Pipeline Tracker report has shown the total capacity of solar PV projects classed as either “application submitted” or “awaiting construction” has increased by 298%, while the equivalent for onshore wind has risen by 17%. This overall growth translates into an average...

• Press Releases

  Cornwall Insight releases latest Winter price cap predictions as Summer 2022 cap introduced

  Today our experts at Cornwall Insight are releasing their latest predictions for the average household’s Winter 2022/23 Default Tariff Cap, as the Summer 2022 54% rise comes into force. The winter figures show a predicted increase of over £600 from today’s rise, and would mean that energy prices would have...

• Press Releases

  Businesses facing 250% increase in gas bills

  Research for Cornwall Insight’s ‘Pricing in the SME gas markets’ quarterly report has shown, that on a year-on-year basis, SME customers are facing an average gas bill rise of over 250%, based upon delivered prices. Wholesale market volatility, amongst other factors, has seen gas prices jump significantly for all consumers....

• Press Releases

  Cornwall Insight’s response to the Spring Statement

  Robert Buckley, Head of Relationship Development at Cornwall Insight said: “The Spring Statement came against the backdrop of the tragic events in the Ukraine, which on top of causing untold human suffering, has left European energy markets and subsequently UK households exposed to significantly volatile pricing. “While the government reinforced...

• Press Releases

  Winter price cap predicted to rise by over £500

  Prior to the Spring Statement, we at Cornwall Insight are releasing our latest predictions for the Winter 2022-23 and Summer 2023 default tariff caps. The figures, calculated on 18 March, show a significant drop from earlier in the month, with the Winter cap now predicted to be £2,512, a fall...

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  UK falling behind Germany and South Korea in its plan to increase low-carbon hydrogen and reach net zero

  Research conducted by Cornwall Insight into countries that have branded themselves as potential leaders in the new hydrogen economy, has seen the UK rank 5th out of 15 countries. The low-carbon hydrogen index explores countries with a strong potential for production or consumption of the fuel. Germany tops the index...

• Press Releases

  Summer energy prices in Ireland to remain above seasonal average until 2029

  Research from Cornwall Insight looking at the All-Island Power Market outlook to 2030, has shown that gas prices across both Northern Ireland and the Republic of Ireland will vary significantly between the seasons, with the summer months seeing much higher prices, despite the lower demand. Between 2022 and 2030 modelling...

• Press Releases

  Only a quarter of EV drivers on time of use tariffs despite significant opportunity for savings

  Research from Cornwall Insight has found only a quarter of private electric vehicle (EV) drivers have made the switch to lower priced time of use tariffs, despite many drivers seeing their household electricity demand double after making the switch to an EV. Time of use tariffs – where p/kWh rates...

• Press Releases

  We must focus on cutting energy bills now, if we want support for net zero in the future

  Before conflict erupted in the Ukraine, it was clear that a long-term restructuring of our energy markets to deliver net zero sustainably, with security was essential. We now see a focus on accelerating plans, as the current crisis imposes greater urgency. But results of strategies aiming at outcomes over periods...

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  Cornwall Insight plants five orchards in scheme to protect the bee population in Ireland

  Cornwall Insight has joined 52 pledgers and over 90 Irish schools and community groups in an initiative to plant more than 1000 mixed fruit orchards across Ireland. The “Orchards in the Community” project will help protect the bees in Ireland and increase pollination, with the orchards playing a key role...

• Press Releases

  Significant increase in wind power needed to fill energy gap left by retirement of Eraring

  Cornwall Insight Australia is estimating that there will need to be at least 2,850MW of extra wind power generated with the potential for this to rise up to 4,055MW, to cover the energy loss from the early retirement of the Eraring coal plant. The loss of Eraring could see the...

• Press Releases

  Jump in energy prices leaves price cap predictions at over £2,900 a year

  Today’s significant rise in the price of wholesale gas has once again sent predictions for the Winter Default Tariff Cap rocketing upwards, with Cornwall Insight now predicting the cap will rise in October to over £2,900 a year for an average user. The price cap has been extremely volatile over...

• Press Releases

  Energy costs extremely volatile as Russia invades Ukraine

  Cornwall Insight’s modelling for the Default Tariff Cap has shown extreme volatility in the market, with Winter cap predictions jumping by over £200 from Wednesday to Thursday - only to fall again on Friday before rebounding on Monday. Despite the fall, predictions still show a winter cap increase of nearly...

• Press Releases

  Cornwall Insight comments on the impact of sanctions against Russia on the energy market

  Dr Craig Lowrey, Senior Consultant at Cornwall Insight said: “The reliance of Europe on Russian gas will mean any economic sanctions which affect supply levels are likely to have an immediate and potentially longer-term impact on gas prices. “While the UK is not dependent on gas from Russia, and should...

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  Ireland must streamline consent for offshore renewables if it wants to meet climate targets

  Cornwall Insight is calling on the Irish government to use the development of its new Maritime Area Consent (MAC) regime to streamline the process for offshore renewables and help get Ireland back on track for meeting its climate targets. The process for marine area consent has been dogged with delays for many years....

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  New funding mechanism essential to increasing nuclear capacity in the UK

  A new funding mechanism for the nuclear sector, the Regulated Asset Base (RAB) model, has the potential to increase the UK’s nuclear capacity to 24GW over the next 30 years, according to Cornwall Insight’s Benchmark Power Curve (BPC). A significant rise when compared with the 6.7GW that is likely to...

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  Cost of grid supplied electricity making decarbonisation of heat generation unviable says joint report

  Cornwall Insight and the Confederation for Paper Industries (CPI) have today released a joint report examining the barriers energy intensive industries are facing in their attempts to decarbonise their heat supply. The report, while focusing on paper industries, reflects the experience many energy intensive industries are facing as they look...

• Press Releases

  Failed energy suppliers costing consumers more than a third extra in local distribution networks charges

  Costs to compensate energy companies who take on customers from failed suppliers have resulted in an average increase in domestic electricity bills by £34.46 in 2022-23. When a customer’s supplier fails, they are automatically appointed a new supplier through the Supplier of Last Resort (SoLR) process, with onboarding suppliers able...

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  Are hydrogen heating solutions an option for decarbonising residential heating in Ireland?

  Cornwall Insight have released a report assessing the potential of hydrogen in the challenging task of decarbonising residential heating in Ireland. The report found that lowering the CO2 emissions from residential heating would be a key component in Ireland achieving its ambitious vision to reach net zero by 2050. While...

• Press Releases

  Cornwall Insight comments on the Summer Price Cap

  Commenting on today’s announcement that the Summer Price Cap has been set at £1,971 for a typical user, Dr Craig Lowrey, Senior Consultant at Cornwall Insight said: “With the wholesale gas and electricity market remaining incredibly volatile, it was unfortunately inevitable that the Default Tariff Cap would be raised to...

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  Volatile energy prices set to continue into 2030

  Research from Cornwall Insight has shown that conditions could be in place for volatile wholesale energy prices to continue into 2030 and beyond, unless the UK develops a long-term strategy to cope with changes in energy production and unstable economic, geopolitical, and ecological systems. Cornwall Insight’s Benchmark Power Curve, which...

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  Energy price cap now level with the cheapest deals on the market

  Research from Cornwall Insight has shown there is only a £2/year difference between the top ten cheapest energy deals on the market and the Default Tariff Cap. The gap which is significantly smaller than the £171/year seen in December 2020, stayed stagnant between October and December 2021, further confirming predictions...