UK businesses are facing electricity bill rises of up to 133% from April compared to last year, Cornwall Insight’s Delivered Electricity Cost forecaster revealed.
The UK must deliver development consent for over 17 transmission projects in the next four years to achieve a fully decarbonised electricity system by 2035, says the National Infrastructure Commission (NIC).
The UK has been ranked the fifth most attractive country in Europe for electric vehicle (EV) market potential by the Electric Vehicle Country Attractiveness (EVCA) Index.
Cornwall Insight has stated that the rising cost of capital threatens to derail the expansion of renewable energy projects such as onshore wind and solar PV.
Ofgem has today confirmed (27 February) that the energy price cap will be set at £3,280 for typical dual fuel households. Despite a £1000 reduction from the current cap however, households will see no benefit as bills continue to rise.
Following the closure of the observation window on 17 February, Cornwall Insight has confirmed its final prediction for the April Default Tariff cap for a typical household is £3,294 equivalent per year.
Cornwall Insight has released its latest Default Tariff Cap forecast - calculated from market closing prices on Friday 3 February - demonstrating a rise of just under 10% from January’s predictions.
