Price Cap

  • 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

    Daily Express | Energy price rise warning

    Our predictions on the default tariff price cap rising when Ofgem next looks at it was featured in the Daily Express. Rising wholesale energy and commodity prices are set to increase the cap by at least another £100. Commenting on the prediction Craig Lowrey Senior Consultant at Cornwall Insight said...

  • 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

    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...

  • Media Mentions

    The Guardian | Energy bills to be cut by £84 for 11m UK households

    The energy regulator has lowered winter energy bills for 15m UK homes by reducing its energy price cap to record lows after wholesale energy market prices tumbled during the coronavirus pandemic. The government has legislated that the cap should remain in place at least for 2020, and no later than...

  • Media Mentions

    The Guardian | 11m UK households in line for £100 savings on energy bills

    Home energy bills for 11m households could tumble by up to £100 a year from this winter. This is following a record low energy market prices during the COVID-19 lockdown, according to analysts. We are expecting to see a significant decrease to the default price cap in Ofgem’s announcement, with...

  • 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

    Price cap declines but is expected to fall further still

    Commenting on today’s Ofgem announcement that the default price cap would decrease by £17 to £1,162 for the six months effective from 1 April 2020, Robert Buckley Head of Retail and Relationship Development at Cornwall Insight, said: “Due to the mild winter the UK has experienced, it will have come...

  • 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...

  • Media Mentions

    Financial Times | UK energy bills to fall as regulator lowers cap

    Cornwall Insight research into the price cap was featured in the Financial Times. Ofgem announced a £75, or 6 per cent, reduction in a price cap that applies to 11m homes on so-called standard variable or default tariffs. But Cornwall Insight's forecasts predict that if the wholesale prices remained close...

  • 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

    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...