gas prices

Cornwall Insight’s latest projections from its Q1 Power Curve suggest the drop in power prices will extend to the end of the decade.  

A new University College London (UCL) report analysing revenues in the GB power sector has found that consumers paid £29 billion more in 2022 compared to pre-Covid levels, a rise of about £500 per person.

Britain has broken its record for ‘greening the grid’, with 25 hours coming from 100% clean electricity in December, according to new analysis from Imperial College London for Drax Electric Insights.

​Centrica’s profits have more than tripled over the last year to hit £3.308 billion amid the energy crisis.

​2022 was a “record-breaking green year” but high fossil-fuel costs still led to energy prices almost doubling.

In the second in our Current± Predicts series, ​Robert Buckley from Cornwall Insight and Fintan Devenney and Phil Hewitt from EnAppSys share their views on what 2023 holds in store for the energy transition.

​The Default Tariff Price Cap is predicted to drop slightly following the first three months of 2023, according to Cornwall Insight.

From the beginning of the wholesale gas crisis to the end of the newly extended Energy Price Guarantee initiative, gas will have added £4,400 to the average household’s energy bill, according to the Energy and Climate Intelligence Unit (ECIU).

​Ofgem has issued non-domestic energy supplier Delta Gas and Power with a Provisional Order, due to concerns about its financial position.

“Gas prices are expected to remain high and volatile for the foreseeable future. The forward wholesale gas curve suggests prices will remain significantly elevated into the coming winter period and seasons beyond,” said Sam Peek, senior analyst of assets and infrastructure at Cornwall insight.