energy prices

  • 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...

  • 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

    Average energy prices decreased by 46% in Q1 2020 compared to 2019, but peaks are up

    Research from Cornwall Insight Australia shows that on average energy prices declined significantly in Q120 compared to 2019 – averaging a decrease of ~46% across the NEM. In fact, in Q120 New South Wales (NSW) was the only region where prices were higher (on average) than Q119 (only Victoria (VIC)...

  • 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...

  • 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...

  • 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 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

    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...