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Will Irish households benefit from falling wholesale prices?

Will Irish households benefit from falling wholesale prices? Wholesale prices across the Single Electricity Market (SEM) fell to record lows in April. Joe Camish Analyst at Cornwall Insight Ireland discusses these developments and what this might mean for electricity users across Ireland.   The most prominent of these were the movements in the day-ahead power…
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Renewable generator revenues fall due to lockdown

Renewable generator revenues fall due to COVID-19 lockdown: Research from Cornwall Insight’s Green Power Forecast reveals there has been a sharp decline in generator revenues. Solar and wind technologies have been particularly impacted by low demand levels due to the COVID-19 lockdown.   Solar PV captured prices were, on average, 8.4% and 14.9% below baseload…
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COVID-19 impacts: gas and power prices over the summer

COVID-19 impacts: gas and power prices over the summer months: As Great Britain (GB) is starting to move through the peak of the COVID-19 pandemic, there have been some indications that the energy market could be passing its trough.   Tim Dixon, Wholesale Team Lead at Cornwall Insight, looks into how GB gas & power…
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COVID-19 impacts: reduction in inertia levels

COVID-19 impacts: reduction in inertia levels: Analysis by Cornwall Insight reveals that inertia* levels have been falling over time as the proportion of synchronous generation has declined. The below graph highlights the drop in inertia and shows 2020 levels are significantly lower.   While we are not even halfway through the year the shape of…
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COVID-19 impacts: Energy demand and emissions

COVID-19 impacts: Energy demand and emissions across Europe: Research from Cornwall Insight has investigated the impact on the daily average electricity demand and carbon emissions across five European countries during the four weeks from 23 March – the commencement of lockdown in the UK.   Overall, all five markets – Great Britain, France, Germany, Italy…
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Flexible asset PPA capacity and competition increases

Flexible asset PPA capacity and competition increases: The Power Purchase Agreement (PPA) market for flexible assets* in the last six months has grown in size and seen increased levels of competition as new off takers and optimisers make themselves known in the market.   Based on Capacity Market (CM) agreements, there is ~4.8GW of flexible…
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20% drop in weekday Irish electricity demand

20% drop in weekday Irish electricity demand due to COVID-1: With a large proportion of specific sectors throughout Ireland having either closed or scaled back their operations due to COVID-19; a significant drop in Ireland’s electricity demand on weekdays has been observed.   In fact, research from Cornwall Insight Ireland, comparing the first week in…
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Challenger energy suppliers join the “Big Six”

Challenger energy suppliers join the “Big Six”: Research from Cornwall Insight’s Domestic market share survey for the first quarter of 2020 shows a shake-up of the rankings that is unprecedented in the survey since its launch. The completed merger of OVO Energy and SSE and organic growth from Bulb have seen the names of challenger…
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COVID-19 impacts: Surge in negative pricing

COVID-19 impacts: Surge in negative pricing: Because of COVID-19 and its effect on energy demand, wind now represents a more substantial proportion of Great Britain’s (GB) energy mix. At the same time, CCGT plant has to respond to lower load factors. This has resulted in not only record low wholesale prices but also a surge…
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Negative wholesale prices in the SEM

Negative wholesale prices in the SEM –  comments by Cornwall Insight Ireland : On 5 April, the Irish Single Electricity Market (SEM) experienced a negative day-ahead trading price for almost the whole day.   The below graph shows the day-ahead market starting at -€6.0/MWh, before falling as low as -€14.5/MWh at 2:00 pm. Overall, the…
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