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Gap amid cheapest energy

Gap amid cheapest energy deals & price cap lowest ever

Gap amid cheapest energy deals & price cap lowest ever: Research from Cornwall Insight’s ‘Domestic tariff report’ highlights the level of savings made by a customer switching to a new energy tariff has reduced significantly. In fact, the difference between the ten cheapest tariffs and the current default tariff cap for September 2021 stands at…
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Renewables Obligation mutualisation predicted further yrs

Renewables Obligation mutualisation predicted further yrs: Forecasts from Cornwall Insight‘s ‘Within-term ROC market forecast’ predict a potential shortfall in the 2020-21 Renewable Obligation (RO) buy-out and late payment fund of over £170mn, with 16 supplier exits to date that could impact upon the scheme’s payments. Furthermore, it predicts that mutualisation will be triggered for the…
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Energy price cap predicted

Energy price cap predicted to rise to £1,660

Energy price cap predicted to rise to £1,660: As a result of wholesale gas and electricity prices continuing to reach new records, Cornwall Insight‘s modelling for the Summer 2022 default tariff price cap has risen once again, with its indicative forecast climbing to approximately £1,660. Despite a long way to go and a lot of…
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Energy prices rise for

Energy prices rise for SMEs as wholesale prices rise

Energy prices rise for SMEs as wholesale prices rise: In Q321, the average small and medium enterprise (SME) gas contract was priced at the highest values since Cornwall Insight records began in 2012 – reaching 4.98p/th for 1-year acquisition contracts that assume a 25MWh annual consumption. Research from Cornwall Insight’s Pricing in the SME gas…
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Summer 2022 price cap

Summer 2022 price cap predicted to rise to £1455

Summer 2022 price cap predicted to rise to £1455: Despite the Winter 2021-22 default tariff price cap being a new record at £1,277, the latest forecast from Cornwall Insight modelling indicates that the Summer 2022 cap will see a further increase of approximately 14% increase against the Winter 2021-22 cap – taking the Summer 2022…
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Energy prices predicted to soar in summer 2022

Energy prices predicted to soar in summer 2022: Analysts have forecasted that the price cap this coming summer may ‘burn’ holes in energy consumers’ pockets. A Cornwall Insight analysis expects the default price cap will rise by 14% to £1,455 annually for dual fuel consumers. If the prediction becomes accurate, that will come after this…
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EVs are predicted to

EVs are predicted to raise electricity demand by 71.6TWh

EVs are predicted to raise electricity demand by 71.6TWh: The latest figures from Cornwall Insight’s ‘Benchmark power curve’ forecasts that by 2040 EVs will contribute an additional 71.6TWh, this is a massive 31 times higher than the current level of demand for electricity from electrified transport and 25% of current annual demand which stands at…
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Wholesale power prices expected to remain high for winter

Wholesale power prices expected to remain high for winter: The latest Cornwall Insight forecasts suggest winter wholesale power prices are to remain at their high levels, with the potential for price spikes in periods of high demand and low wind, as margins look tight for the winter ahead. The key driver of power prices will…
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Green certificate prices keep rising amid BEIS proposals

Green certificate prices keep rising amid BEIS proposals: The latest research from Cornwall Insight‘s ‘Green certificate survey’ shows Renewable Energy Guarantees of Origin (REGOs) prices have risen significantly in recent months, with average reported prices of £1.35/REGO for Fuel Mix Disclosure (FMD) 2021-22 and £1.41/REGO for FMD 2022-23. This is 228% and 214% higher, respectively,…
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Energy supplier consolidation expected to continue

Energy supplier consolidation expected to continue: The UK’s energy supply market has been undergoing a period of consolidation, with the number of fully licensed suppliers falling to under 50 from a high of 62 in 2018, according to a report commissioned by Shoosmiths and produced by Cornwall Insights – Consolidation in the domestic energy market.…
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