power prices

New analysis from Montel’s EnAppSys has revealed that power prices decreased by approximately 50% in Q1 2024 with record-high renewables output.

Cornwall Insight has updated its 2024 power market forecast to include an 18% drop in prices due to high gas storage levels in the EU.

New research conducted by Cornwall Insight has indicated that power prices in Ireland will increase to three-times the pre-2021 average in 2024.

The Office for National Statistics has cited falling electricity and gas prices as having a major impact in the fall of inflation to 6.8%.

A projected rise in interconnector exports and reduction in imports has led Cornwall Insight to raise its prediction for long-term power prices in Ireland.

Customers based in the UK overpaid on energy bills in 2021 to 2022 by around £7 billion which could have been avoided via a “split market” marginal pricing scheme, a report by Carbon Tracker has said.

Cornwall Insight Ireland has released its fourth quarterly All-Island Power market Outlook to 2030 revealing that delays to onshore wind investment decisions have “dashed the hopes of prices dipping below historic levels” in Ireland as predicted in its previous report.

​On Monday, the Department of Business, Energy and Industrial Strategy launched a new consultation into key changes to the upcoming Contracts for Difference (CfD) Allocation Round 5 (AR5).

​Members of Ripple Energy’s Graig Fatha wind farm are set to save around £783 on their electricity bill in 2023, three times the amount saved in 2022.

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