Cornwall Insight

​Yesterday’s British Energy Security Strategy has been met with disappointment from many in the energy sector, who have branded it a ‘missed opportunity'. Current± takes a look at how the industry has responded to the strategy.

​Cornwall Insight is predicting the winter price cap will increase by a further £600 beyond last week’s 54% jump.

​The latest predictions by Cornwall Insight detail how the energy price cap for winter 2022-23 is expected to be set at £2,512.

​Only a quarter of private electric vehicle (EV) drivers are on time of use (ToU) tariffs, while high wholesale prices and volatility will continue to limit uptake, Cornwall Insight said.

​Charities have called on the government to cut energy bills for the most vulnerable households, as they warn 8.5 million UK households face fuel poverty.

​The cost of energy is extremely volatile currently due to Russia invading Ukraine, said Cornwall Insight.

The cost of energy supplier collapses over the last year has added £34.36 to domestic electricity bills for 2022-23, according to Cornwall Insight.

​As expected, the Capacity Market’s T-1 auction has entirely cleared in the first round at its highest ever price.

Volatility in the wholesale energy market is likely to last until at least 2030 unless significant changes are made to long-term energy strategies, according to Cornwall Insight.