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Global

Positive impact

6 August 2026

Cornwall Insight reduces power price forecast for rest of the ...

Article Summary

Key point: Cornwall Insight has reduced its power price forecast for the rest of the decade. The average gas price prediction for 2023-2024 has dropped from £94 per MWh to approximately £79 per MWh.
Why it matters: Could ease pressure on household energy bills over time.
Expected impact: Likely positive impact — Points to improving conditions in the UK energy market.

Cornwall Insight has reduced its power price forecast for the rest of the decade. The average gas price prediction for 2023-2024 has dropped from £94 per MWh to approximately £79 per MWh.

What This Means

This is excellent news for UK bill-payers. Lower wholesale gas prices directly translate to reduced costs for energy suppliers, which should eventually feed through to lower consumer tariffs. We've seen significant volatility in gas prices recently, so this downward revision offers some much-needed stability and relief, potentially leading to lower price cap levels in future periods.

Consumers: Could ease pressure on household energy bills over time.
Businesses: May lower energy overheads or open new savings for businesses.
Energy market: Points to improving conditions in the UK energy market.