Cornwall Insight

Our accurate price cap forecast set the standard – now discover our Business Energy Cost Forecast - bringing the same trusted analysis to your business. According to our latest forecast, a typical small business - be it a pub, restaurant, or independent retailer- is facing over £5,000 more in annual energy bills compared to pre-crisis levels. And with further increases anticipated over the coming year, it is clear businesses of all sizes need to brace for further increases. 📰 Read the full Guardian article: https://bit.ly/4gcDGyC 📨 Check out the press release: https://bit.ly/3X0ErlA 💡 Keen to get insights into the future of business energy costs? Register for our webinar where our experts will be decoding business energy bills, providing you with the insider knowledge you need to plan ahead: https://bit.ly/4g1iVpm

My former colleagues Cornwall Insight are the only objective, independent analysts that have expertise in forecasting both the long term non-commodity and commodity cost elements of bills, both domestic and business, and that have the capacity to overlay onto this a deep understanding of the business retail energy market. They can bring a great mix of both quantitative modelling and practical, commercial perspectives rooted in reality. I am so pleased to see them producing a service that I am sure business owners, FDs/CFOs and CEOs in certain “energy sensitive” sectors will see as an invaluable part of their cashflow planning, budgeting and forecasting toolkit. Afterall, the acute peaks of the energy “crisis” may be over, but energy cost pressures have certainly not abated, and we are nowhere near back to pre 2021 levels of costs.

Sobering stuff from Cornwall Insight today on how SME energy bills are still 70% above pre-crisis levels. There are lots of things that can be done to curb those costs through energy efficiency and renewables, but that often requires capital SMEs find difficult to access. All of which means that ultimately the government has to find a way to get the UK off its gas import reliance - and fast. https://lnkd.in/eFrC44NG

We are proud to have worked with the Energy Networks Association (ENA) and its members to assess the new suite of Distribution System Operators flexibility services being rolled out in 2024. Our team conducted a comprehensive stacking assessment, illustrating how flexibility service providers (FSPs) can engage with these new services while tapping into broader revenue streams. The report outlines the timing and processes for FSPs to participate in multiple revenue opportunities. Building on our work with National Grid Electricity Distribution in 2023, we’ve also identified barriers to participation within the current framework and provided recommendations to overcome them. The full report can be accessed here: https://bit.ly/475SSt5

Ofgem has announced the October price cap at £1,717p/a for a typical consumer. This is a 10% increase from July’s cap. Our new forecasts indicate that this may not be the last of the increases. The January 2025 cap is currently projected to rise by an additional £45 to £1,762, this would mark a 3% increase from October’s cap. Breakdown of January 2025 forecasts: Standing Charge (£/day): Elec-0.60, Gas-0.32 Unit Costs (p/kWh): Elec-25.62, Gas-6.40 As we move into the colder months, this news will not be welcomed by already hard-hit households. Unfortunately, a volatile wholesale market, and a country heavily reliant on imported energy has created a perfect storm for fluctuating bills. Read our response to the cap announcement: https://bit.ly/4dWCI7M Our price cap predictions are completely independent and free from any external influence. Find out more and keep up-to-date with our predictions here: http://bit.ly/3nAWXTX Did you know Cornwall Insight also predict business energy bills? Find out more about our new Business Energy Cost Forecast and stay tuned for the release of our business energy bill predictions in the next couple of weeks: https://bit.ly/3SSZAg6

We are excited to announce that our new website is live!   With a refreshed look and user-friendly design, our new website offers a seamless browsing experience, making it easy to explore our range of Analysis, Consulting and Training services.   Explore now: https://lnkd.in/gwjfWrt

Are you ready to elevate your team’s skills and knowledge?  We are delighted to announce the launch of our training credits subscription service. With these credits, you can enjoy discounted prices on our extensive range of online energy training sessions throughout your subscription period. Whether you’re looking to onboard new starters or provide advanced, role-specific training, we’ve got you covered. Our courses cover a wide range of topics from introduction to energy courses to more advanced training, including low-carbon generation, flexibility, e-mobility, the future of electricity markets and wholesale energy markets. Take a look at our full course list here: https://lnkd.in/egyspXde Our training credits offering is designed to be user-friendly: simply select the sessions you want to attend, and we’ll handle the rest. Eager to get started?  Contact us today: https://bit.ly/3yX0d1n  

Our very own Assets & Infrastructure Manager Lucy Dolton will be joining SmartestEnergy's webinar to explore the Allocation Round 6 results. Dive into the future of the CfD with expert analysis and discussion. Don’t miss out - sign up below.

In recent months, significant developments have occurred across the GB low carbon landscape. With a change in government, budget announcements for Allocation Round 6, and reductions in wholesale baseload power prices compared to the peaks seen across the energy crisis, all causing large ripples through the energy market.     We know all the changes can seem overwhelming, and that’s where our analysis service, Revenue Streams & PPA Insight (GB) is here to help. Through unpacking these developments, examining how they affect the way renewable generators currently operate, and considering the impacts on other market participants, including offtakers and investors, we can help you get a handle on the evolving market     We are uniquely positioned to capture these trends through structured interviews with market participants. Our latest Green Power Forecast report dives into the crucial developments in renewable PPAs in the short- and long-term. Additionally, we are compiling our upcoming PPA Market Share report, which ranks offtaker market share positions giving you a clear view of who’s leading the charge in the industry. Stay tuned for publication at the end of August.    If you are a market participant who would like to be interviewed in the future to contribute to our commentary or if you are interested in learning more about our service, please contact us: https://lnkd.in/eSt7QkXv  

Yesterday, Cornwall Insight released our final forecast for the October energy price cap, and unfortunately, the news isn't encouraging - a 9% increase is predicted, with the possibility of another rise in the new year. This is not the news households want to hear, especially when it seemed like we were on the path to recovery.   Our experts Robert Buckley, Craig Lowrey and Kate Mulvany were featured across various broadcast media yesterday, offering insights into these forecasts. Explaining the reasons behind the rising energy bills, the direction of the market, and potential strategies to bring stability to our highly volatile energy landscape.   Watch and listen below: 📻 BBC Radio 4 Today (1:51:35): https://bit.ly/3WRbY1w 📻 BBC Radio 5Live Drive (1:24:48): https://bit.ly/4dMLwgc 📺 ITV News: https://bit.ly/3MjSUUt 📻 BBC Radio Scotland (1:12:00): https://bit.ly/3MdVhIw 📻 BBC Radio Wales (33.00): https://bit.ly/4cvFXBL