Cornwall Insight

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Articles

Battery revenues forecast to rebound in 2026

Oct 28, 2024 | pveurope.eu | Cornwall Insight

Cornwall Insight's forecast shows, annual revenues for 2-hour assets are forecast to climb from approximately ~£96/kW in 2025 to ~£108/kW by 2026, representing a marked improvement. Similar growth can also be observed in our forecasts for other durations. Looking further ahead, we forecast a slight slowdown in yearly revenues in the latter half of the decade. This is in line with our underlying projections for wholesale power prices, alongside a greater saturation of the battery storage market.
The greenwashing dilemma: Is fear of scrutiny stopping companies from taking genuine steps to decarbonise?

Jul 31, 2024 | businessgreen.com | Emily Lewis |Cornwall Insight

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Removing levies from electricity bills could save households £300

Jul 17, 2024 | british-utilities.co.uk | Cornwall Insight |Heather Trudeau

Removing levies from electricity bills could save households £300:Removing social and environmental levies from electricity bills could save consumers up to £300 a year and incentivise the uptake of heat pumps, a new independent report by Cornwall Insight and the MCS Foundation has said. The UK currently has some of the highest electricity costs in Europe, and this is proving a barrier to the take-up of heat pumps, as well as driving fuel poverty.
Irish power prices to rise in 2024 while renewables goals hang in the balance

Nov 1, 2023 | renewablesnow.com | Cornwall Insight

A new report forecasting power prices out to 2030, has shown a jump in short-term prices. The data from Cornwall Insight’s All-Island Power Market Outlook to 2023, predicts prices will rise to nearly EUR 190 per MWh for 2024, three times the pre-2021 average. The increase in the near-term forecast has been attributed to outages in Norwegian gas production putting pressure on supply and pushing up European gas prices. This could see consumer bills remain high over the next year.
Energy price cap ‘costing consumers money and driving inflation’

Aug 7, 2023 | inkl.com | Dillon Smith |Craig Lowrey |Cornwall Insight |Simon Francis

For almost two years almost all tariffs have been priced at or just below the capped level, with no evidence this will change in the near future – meaning the Government is effectively setting the market price for energy and eliminating any chance of customers switching to a better deal, CPS energy and environment researcher Dillon Smith said.
Energy bills forecast to stabilise but stay well above pre-pandemic levels

Jul 27, 2023 | inkl.com | Craig Lowrey |Cornwall Insight

Following this initial dip, the cap is projected to rise to around £1,960 in January, before further small decreases in March and July. The price cap fell from £3,280 to £2,074 from July 1 in a relief for consumers who have seen typical bills soar from £1,271 a year in October 2021 due to the global gas crisis.
Energy price cap forecast to fall again ‘to below £2,000’

Jun 29, 2023 | inkl.com | Craig Lowrey |Cornwall Insight

However, the regulator is adjusting its definition of the average household’s consumption from October, down from the current 2,900 kWh a year for electricity to 2,700 kWh, and from 12,000 kWh for gas to 11,500 kWh, to reflect consumers using less energy to cut costs in the face of high prices. Based on Ofgem’s adjusted definitions of average usage, Cornwall Insight has forecast that the regulator will announce price caps of £1,871 a year from October and £1,900 from January.
Energy bills to drop from July, experts say

May 9, 2023 | inkl.com | Craig Lowrey |Cornwall Insight

However, because the Government bill support, which has artificially lowered bills, will fall away, households will only be around £437 better off per year on average. The analysts at Cornwall said they expect the price of electricity will drop to 29.55p per unit from the start of July from 33.2p today with Government support. Gas prices will fall from 10.3p today – including Government support – to 7.55p from the start of July.
Our response to the publication of the REMA consultation summary

Mar 7, 2023 | whatisrema.com | Cornwall Insight

The government has published the summary of responses received from its Review of Electricity Market Arrangements (REMA) consultation. The responses received showed the industry has expressed strong support (92% agreement) for energy market reform that prioritises decarbonisation, security of supply, and cost-effectiveness.