BBC interview | Robert Buckley discusses Ofgem’s price cap

Robert Buckley spoke to Felicity Hannah on BBC Five Live’s Wake up to Money programme ahead of Ofgem’s announcement to increase the default price cap by £96 to £1,138. Robert explained that a combination of a rise in wholesale prices and policy costs for renewable electricity, as well as the inclusion of £23.69 adjustment by Ofgem for bad debt, will have added to the default price cap rise. He added that the rise to the price cap would reverse the fall that was seen in the summer in its entirety. 

Discussing the wholesale prices, Robert said that the rebound in prices following the first lockdown, alongside the colder weather the UK has experienced, has contributed to higher prices in Ofgem’s calculation. 

If you are interested in hosting one of our experts in your events or shows, please contact our press officer, Charlotte Nelson on c.nelson@cornwall-insight.com

Related thinking

Commercial and market outlook

April Fools’ Day 2021: In today’s other energy developments

Our energy April Fools' day headlines... Netflix’s The Regulator set to return with Ofwat crossover Fans of Netflix’s Ofgem-set smash hit The Regulator will be thrilled to learn that season two starts filming today (Thursday 1 April). Although secrecy is as high as ever on set, producers have confirmed that...

Low carbon generation

Nuclear energy and its potential importance for net zero

This article was originally written as a longer piece in Energy Spectrum on 21 March 2021. To find out more about a subscription to Energy Spectrum, please contact Nick on n.palmer@cornwall-insight.com. Nuclear energy has been an integral part of the UK’s electricity system for many decades. Currently, nuclear provides around...

Announcement

Alert: Budget 2021

Chancellor Rishi Sunak delivered his Budget on 3 March, a year on from the start of the COVID-19 crisis and his second in the job. Headline announcements included, among others, a sovereign green bond, the UK Infrastructure Bank, a freeze in Carbon Price Support and £20mn for floating offshore wind....

Net zero corporates and ESG

The Emperor’s new clothes?

Institutional and governance reform forms a major plank of the energy white paper, with the inevitable result that industry commentators are proposing various and new institutional constructs to address the immense challenge of transitioning the energy sector to net zero. We have seen many ideas in this space over the...

Net zero corporates and ESG

Sleeving Pools could enable local authorities to procure local energy

This blog post is adapted from an article in March’s issue of Energy net zero, published on 31 March. To find out more about a subscription to Energy net zero, please contact Veronica at v.truman@cornwall-insight.com. For many local authorities and corporates, development of small-scale renewables and consideration of generation production...

Net zero corporates and ESG

Major energy policy and regulatory changes discussed in our December Net Zero Business forum

On 10 December 2020, Cornwall Insight hosted its Net Zero Business Forum. Held four days before the release of the UK government’s Energy White Paper, the focus was on the Prime Minister’s 10-point plan, the Spending Review and the National Infrastructure Strategy. Head of Relationship Development Robert Buckley and Head...

Announcement

Cornwall Insight strengthens its Board

Cornwall Insight, an award-winning international firm delivering comprehensive Insight that enables businesses, markets, and policymakers to succeed in the net zero transition, has further strengthened its Group Board. The company has appointed two new Non-Executive Directors, Dr. Kate Broughton, and Steve Jennings, in addition to Claire Skinner as a Special...

Power and gas networks

Understanding the backdrop of the UK hydrogen economy

We are delighted to publish our research note on the hydrogen sector: 'Understanding the backdrop of the UK hydrogen economy'. Serving as a primer for our upcoming series of hydrogen insight papers, we chart the UK’s progress in developing a hydrogen industry. In our paper, we cover essential developments in...