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Ofgem’s new price cap will see bills lighter by up to £95

Ofgem’s new price cap will see bills lighter by up to £95: More than 15 million households in the UK will see energy bills fall by up to £95 a year from October. The new level of the price cap has been announced by Ofgem, which for customers on their supplier’s standard variable tariff will…
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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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Customers face rising energy bills due to subsidy costs

Customers face rising energy bills due to increase in subsidy scheme costs: The COVID-19 lockdown and the resulting reduction in energy demand have seen the costs of supporting renewable subsidies increase both in terms of £/MWh and overall expected spend for 2020-21.   Research from Cornwall Insight’s ‘Third-Party Charges forecast’ highlights that as a result…
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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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Cornwall Insight on the increase in BSUoS charges

Cornwall Insight comments on the increase in BSUoS charges: The effects of the fall in energy demand due to the COVID-19 lockdown accompanied with a high penetration of renewables on the transmission system has seen the activity on the Balancing Mechanism (BM) increase.   This increase in accepted volume on the BM is reflected in…
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Digital-only energy brand launch by British Gas

Digital-only energy brand launch by British Gas: A new online-only energy brand has been launched by British Gas. British Gas X is a new service to give customers dual fuel energy from British Gas, the brand will match your energy use by feeding green energy back into the grid and has been created especially for…
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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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£51mn cost to balance the electricity system

Cornwall Insight comments on £51mn cost to balance the electricity system over the Bank Holiday: The Bank Holiday (23-24 May) saw the UK experience warm yet windy weather. Coupled with the significantly low levels of energy demand observed during the lockdown, it is no surprise that the level of activity from National Grid Electricity System Operator…
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Up to 14m UK households face £288m energy bill shock

Up to 14m UK households face £288m energy bill shock: An energy bill shock of £288 million could soon be dropping through the door of almost 14 million households in the UK. That’s according to Uswitch.com in their latest research, which suggests energy use during the lockdown has gone up by £16 a month while…
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‘Net zero progress is not just a number’

‘Net zero progress is not just a number’: The sector for energy storage has strengthened its presence over the past year. That’s the suggestion from Alastair Martin, Founder and Chief Strategy Officer of Flexitricity who spoke about the progressive growth of renewables and how the net zero target can change the way people act. He said…
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