Customers’ bills to jump with price cap increase of £66 as wholesale energy prices recover
The default tariff price cap is set to increase by £66 from April 2021 as wholesale power prices jump.
Articles tagged with: Cornwall Insight
Mutualisation of Renewables Obligation triggered for third year as suppliers struggle to meet payment deadlines
For the third year in a row, mutualisation of Renewables Obligations (RO) has been triggered according to Ofgem.
GB could become a net exporter of power by 2040s
New modelling by Cornwall Insight has predicted that Great Britain could become a net exporter of power to the European continent by the 2040s.
Cornwall Insight warns of risk of RO mutualisation
The risk of Renewable Obligation (RO) mutualisation has grown, as the supply market continues to be challenging.
Use of Balancing Mechanism doubles as COVID-19 highlights imperfect system
The Balancing Mechanism (BM) was used twice as much throughout April and May 2020 as the previous year, due to the impact of COVID-19.
CfD auction set to be highly competitive with over 10GW likely to compete
The upcoming Contracts for Difference (CfD) auction is set to be highly competitive, with over 10GW of capacity likely to compete.
Energy demand hits record low levels over sunny bank holiday weekend
Energy demand reached a new low in the UK over the bank holiday, setting two new records according to Drax Electric Insights.
Surging renewables give ‘glimpse of the future’ as prices tumble over sunny weekend
Low demand and a sunny weekend sent power prices plunging into negative figures on the day-ahead hourly market for the third time as generation hit a new record.
As negative pricing becomes increasingly common, Cornwall Insight's Tim Dixon explores what's driving the trend and how it's likely to change in the coming year.