High energy prices to 2030 and beyond, says new report
The next decade and beyond will see significant changes to the energy generation technology mix with renewables becoming more and more important, says new report from Cornwall Insight.
Research from Cornwall Insight (looking at Great Britain’s (GB) Power Market to 2030) has shown energy prices will remain in excess of £100/MWh annually. This is significantly above the five year pre-2021 historic average of £50/MWh in Winter and the even lower prices in pre-2021 Summer.
“While we are used to seeing headlines depicting energy prices at an all-time high, unfortunately, while prices will reduce, our modelling shows that pre-2021 prices are not making a comeback this decade and likely beyond.”
Tom Edwards, Senior Modeller at Cornwall Insight
Prices are expected to rise to £150/MWh in Winter 2025 due to closures of nuclear power stations, delays to Hinkley C, and increasing high-cost peaking capacity.
Renewable generation capacity will rapidly increase to meet targets and will help meet rising demand; however, marginal gas-fired generation sets power prices.
Great news! You’ve completed our efficient Workplace Energy Efficiency Checklist and are on your journey of reducing energy bills and cutting carbon emission. You’ve now reached that point where you are ready to get started on more substantial and long-term green investments.
Understanding your heating controls Heating controls are essential for achieving energy efficiency in buildings. By understanding how these controls work, you can avoid wasting energy in unoccupied spaces or having competing heating and cooling running at the same time. Manuals for heating controls can be found on a manufacturer’s website. Ensure staff know which of…
This support offer has come to end as of December 2022. As energy prices skyrocket for businesses, we’ve gained new funding to support organisations in Oxford City. If you have a building in Oxford City and want fully funded energy efficiency support, you should get in touch. Our experienced team can provide energy assessments and…
When it comes to getting quotes for electrical devices designed to cut down on your energy consumption, some of the terminology can be a bit confusing. Here we break down the key metrics you need to know.
Hybrid working really took off during the COVID pandemic – and looks as if it is here to stay. But while it’s become the go-to approach of blending remote and in-person work, the burning question is: Is remote home working genuinely more sustainable?