energy bills

  • Media Mentions

    Bloomberg | U.K. Utilities to Raise Energy Bills in Winter for Millions

    Our thoughts on the rise to the default tariff price cap were quoted by Bloomberg Quint. Ofgem increased its price cap to a record level. The new level of 1,277 pounds comes in to effect in October and will run through March for customers on standard variable tariffs. Craig Lowrey...

  • Press Releases

    Price cap rising to the highest level with further rises on the horizon

    Commenting on today’s Ofgem announcement that the default price cap would increase by £139 to £1,277 for the six months effective from 1 October 2021 for a typical domestic customer, Craig Lowrey, Senior Consultant at Cornwall Insight, said: “Despite serving as a means by which to curtail cost increases, the...

  • Media Mentions

    The Guardian | Millions of UK homes face winter energy bill hike of over £110 a year, experts say

    Price cap analysis from Cornwall Insight was showcased in The Guardian. The analysis shows that for the coming winter, the regulator is expected to lift its cap for the average dual-fuel energy bill from £1,138 a year to £1,250 a year. Discussing the reason behind the rise, Craig Lowrey said...

  • Press Releases

    More than 65% of households are now supplied by green energy companies

    According to the latest research from Cornwall Insight, households with ‘green’ suppliers – those only offering electricity tariffs backed by Renewable Energy Guarantee of Origin (REGOs) certificates – rocketed from less than 20% in 2017 to 65% 2021. This percentage would be even higher if green tariffs from suppliers that...

  • Media Mentions

    Daily Mail | Energy bills predicted to surge later in the year with price cap likely to rise by at least £100 thanks to higher wholesale costs

    Our latest price cap prediction was highlighted in the Daily Mail today. The energy price cap is likely to increase by more than £100 with the new level being around £1,250 per year for the winter 2021 cap. Explaining why we are likely to see such a large rise Craig...

  • Press Releases

    Price cap predicted to rise by over £100/year

    The latest forecast from Cornwall Insight indicates that the default tariff price cap will increase by more than £100 for the Winter 2021-22 cap to around £1,250 per year for a typical dual fuel direct debit customer – from its current level of £1,138.  Dr. Craig Lowrey, Senior Consultant at...

  • Press Releases

    The gap between cheapest energy fixed tariff and price cap narrows

    Research from Cornwall Insight’s ‘Domestic supplier insight service reveals the gap between the cheapest tariff on the market and the default tariff price cap has reduced to its lowest level since February 2019, standing at £219/year. This is 40% less than at the end of April 2020 when it was...

  • Press Releases

    Cornwall Insight comments on Ofgem’s price cap announcement

    Commenting on Ofgem’s announcement of the default price cap falling by 7% to £1,042 per year for the six months effective from 1 October 2020, Robert Buckley, Head of Relationship Development at Cornwall Insight, said: “This is a dramatic reduction and sees the price cap fall to its lowest level...

  • Press Releases

    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 of the COVID-19 lockdown, the total cost of...

  • Press Releases

    Oil price slump has the potential to lower energy bills

    The price of crude oil has fallen by just over a third since last Thursday ($50/bl) following the apparent collapse of the production sharing deal between OPEC and Russia (OPEC+) due to an inability by the group to agree on a concerted response to the coronavirus outbreak. While there has...

  • Media Mentions

    The Sunday Telegraph | Is it lights out for energy price cap?

    Data from Cornwall Insight was featured in The Sunday Telegraph. The article discussed on the future of the energy price cap. The cheapest tariffs on the market last year were well below £900, according to research outfit Cornwall Insight. Cornwall Insight The Sunday Telegraph

  • Media Mentions

    The Guardian | Energy bills to fall for about 15m households as price cap lowered

    Robert Buckley Head of Retail and Relationship Development featured in The Guardian discussing why early the price cap fell by less than some industry commentators had predicted. He explained that the tumbling cost of wholesale energy last year was offset by the rising cost of maintaining the energy networks and...

  • Press Releases

    Middle East tensions have the potential to increase energy bills

    The risk of direct military conflict between the US and Iran following missile strikes by US forces on Iranian General Qasem Soleimani in Baghdad on 3rd January has been reflected in the oil market, given the potential disruption to supplies from the region. Such volatility is set to reverberate across...

  • Media Mentions

    The Sunday Telegraph | Why the end of the ‘Big Six’ hasn’t made power any cheaper

    Research from Cornwall Insight was cited in The Sunday Telegraph's article on energy bills over the decade. Data showed that families paid an average of £571 a year for electricity and gas in 1998, compared to £1,447 in 2018. Further research showed that at the end of 2016, the cheapest...

  • Media Mentions

    The Sunday Times | A decade of rising bills: how the cost of living has rocketed by £1,400

    Cornwall Insight's Head of Training was quoted in the Sunday Times this weekend discussing the increase in electricity and gas bills over the last decade. Research conducted by the Sunday Times showed electricity bills had increased by 43.7% compared with 17.8% for gas. Ed explained that some of this rise...

  • Media Mentions

    The Guardian | Electricity and gas bills: now is the time to switch energy supplier

    Our research on the Middle East tensions increasing the chance of higher customer energy bills was featured in The Guardian this weekend. The reduction in oil output by around a half is set to resonate across the energy markets. Craig Lowery Senior Consultant at Cornwall Insight said that the Middle...

  • Press Releases

    Higher energy bills likely due to the Saudi oil attacks

    Confirmation from the Saudi Arabian energy minister that drone strikes had reduced the country’s oil output by around half is set to resonate across the energy markets, raising the prospect of higher energy bills for customers. Early trading today has seen the price of oil increase from $60.22/bl to $71.95/bl...

  • Press Releases

    Price cap falling but set to rise in April 2020

    Today, Ofgem announced the default price cap would decrease by £75 to £1,179 per year for the six months effective from 1 October 2019. However, this is unlikely to last with Cornwall Insight’s Price Cap Predictor showing the default price cap is set to increase by at least £30 for...

  • Press Releases

    Price cap predicted to fall by at least £80/year

    The latest forecasts from Cornwall Insight’s Tariff Cap Predictor – a quarterly report modelling the future default tariff periods – predict the price cap could fall by a significant £83 per year to £1,171 – from its current level of £1,254 – when Ofgem makes its readjustment in August. This...

  • Press Releases

    Energy tariff differences across Scotland

    The latest tariff data from Cornwall Insight – Pixie Energy’s parent company – reveals a considerable variation between energy tariffs in northern Scotland compared to that of southern Scotland. The graph below shows the cheapest available deals for three tariff types – fixed, standard variable (SV) and prepayment (PPM) –...

  • Press Releases

    Standard variable and fixed tariffs gap widen to highest in three years

    Last month many suppliers started to anticipate the price cap rising to £1,254/year on 1 April by increasing their standard variable tariffs (SVTs) to meet the new cap level. As a result, of this upward pressure on SVTs, the gap between default and market-based fixed tariffs increased. Research from Cornwall...

  • Press Releases

    The gap between fixed and standard variable tariffs expected to rise

    The latest analysis from Cornwall Insight shows, that when the price cap rises to £1,254/year on the 1 April, the difference between the price cap and the cheapest average tariff will increase significantly. In addition, as all the larger suppliers have announced standard variable tariff (SVT) rises in line with...

  • Press Releases

    Price cap rising today but is predicted to fall in October

    Today, Ofgem announced the price cap will increase by £117 to £1,254. Cornwall Insight’s tariff cap predictor (graph below) was forecasting a new cap level of £1,250 back in November 2018 only £4 out. However, with wholesale cost pressure starting to fall Cornwall Insight’s early predictions for winter 2019 show...