Energy giants call for close post-Brexit UK-EU ties

Five of Europe’s largest energy companies: E.ON, RWE, EDF, SSE and NPower are among a coalition of 21 energy giants and top investors which have called on Britain and the EU to maintain close links on energy and climate policy after the UK leaves the bloc, according to reports by Euractiv.

The EU and UK should seek a ‘deep level of cooperation’ on climate and energy policy, similar to what is being envisaged on defence and foreign policy after the UK leaves, said the signatories of a joint letter sent to Brexit negotiators David Davis and Michel Barnier.

Signatories also include investment giant Aviva and the Institutional Investors Group on Climate Change, a group of 150 activist investors with over €21tn in assets, as well as the energy companies.

Britain’s decision to leave the EU has posed a daunting list of questions to the energy sector. These cover trade law and tariffs, as well as nuclear safety and the UK’s continued membership of the EU emissions trading system for greenhouse gases.

‘The integration of energy markets and climate policies across Europe has enhanced energy and climate security and reduced energy bills in the UK and the EU 27,’ write the signatories, calling on Brexit negotiators to ensure that these benefits continue in the future.

Maintaining work on climate and energy security, including safeguarding the Paris Agreement on climate change should be top of the agenda on both sides of the channel, they argue: ‘To ensure this is achieved, we call on you, in the Brexit negotiations, to develop a comprehensive Climate and Energy Chapter, which covers both trade and non-trade issues,’ they write.