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Generation is changing, does the power market need to?

Generation is changing, does the power market need to? The decarbonisation of the power sector is accelerating through the rapid expansion of low marginal cost renewable generation. As a result, the current electricity market design and the marginal price-based determination of the price of power risk acting as an ever-growing barrier to investment needed to…
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Heightened risk of suppliers failing to meet RO

Heightened risk of suppliers failing to meet RO: Latest forecasts from Cornwall Insight show a potential shortfall in the Renewable Obligation (RO) buy-out fund of approximately half of the £16.94mn mutualisation threshold. Supplier exits to date alone are not expected to trigger the mutualisation process. However, there is a heightened risk that some active suppliers…
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Acquisitions set to change non-domestic energy market

Acquisitions set to change non-domestic energy market landscape: Research by Cornwall Insight into the non-domestic supply market share highlights a changing market share landscape due to recent acquisitions. When the E.ON UK and npower merger completes the rankings for larger suppliers in the electricity market will change significantly.   Figures from our ‘Business market share…
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Hydrogen focus could boost offshore wind deployment

Hydrogen focus could boost offshore wind deployment: National Grid’s Future Energy Scenarios (FES)*, published 27 July, showed hydrogen – for heating, transport and clean dispatchable thermal energy playing a pivotal role in three** out of the four of its net zero scenarios; Steady progression (SP), Consumer Transformation (CT), System Transformation (ST) and Leading the Way…
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Wholesale prices rise as energy demand increases

Wholesale prices rise as energy demand increases: Research from Cornwall Insight shows that as energy demand has risen due to lockdown restrictions being eased, wholesale prices have also increased. In fact, the day-ahead power price (while typically remaining volatile) recently peaked at £33.10/MWh on 8 July; the highest price traded for the contract since pre-COVID…
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Green Certificates survey reveals falling values

Cornwall Insight Green Certificates survey reveals falling values: The latest Cornwall Insight Green Certificates survey results show that the value of green electricity certificates has fallen significantly, with average values reportedly more than one-third lower than in the previous quarter. Green gas certificates have held their value better, but average prices have also fallen for…
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Irish energy demand increase as lockdown is lifted

Irish energy demand increase as lockdown is lifted: Research from Cornwall Insight Ireland highlights that as the COVID-19 restrictions are lifted across Ireland, energy demand in the Single Electricity Market (SEM) has increased. Weekday demand has risen by 3% (3GWh) on average, with current weekday demand levels averaging 94GWh since the lockdown restrictions started to…
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Energy demand increases as lockdown restrictions lifted

Energy demand increases as lockdown restrictions lifted: The COVID-19 lockdown had a significant impact on Great Britain’s (GB) electricity demand, causing it to drop by almost 15-20% compared to the previous year. However, analysis by Cornwall Insight shows that as GB has slowly started to ease out of lockdown and some sectors start to reopen,…
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COVID-19 impacts on low-carbon investments

COVID-19 impacts on low-carbon investments: The COVID-19 pandemic has disrupted many sectors across the UK, and investment in low-carbon infrastructure has paused in many markets. Daniel Atzori, Research Partner at Cornwall Insight, comments on the likely impacts of the COVID-19 crisis in low-carbon infrastructure finance and investor confidence.   “Despite the decrease in electricity prices…
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COVID-19 impacts on the TPI industry

COVID-19 impacts on the TPI industry: While the discussion continues around the impacts of COVID-19 on energy suppliers, the effects have reached all parts of the energy value chain. The latest research from Cornwall Insight’s ‘Third-party intermediaries in the business and industrial energy supply market report’ highlights the effects of the COVID-19 lockdown on the…
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