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Trade bodies call for a future EU-UK energy relationship
Remember Brexit? The British and Irish Chambers of Commerce, the European Federation of Energy Traders, the Electricity Association of Ireland, Energy UK, Eurelectric and WindEurope have together welcomed publication of the EU and the UK’s respective legal texts on the future EU-UK relationship, which represent – they say – a first step to achieve a successful deal on energy.
The group of organisations says that while there are differences in approaches, the EU and the UK both need to work towards a common goal of reaching zero emissions by 2050, which can only be delivered with strong, resilient and efficient energy systems.
The energy sector has a long history of collaboration between the countries of Europe, which has enabled available resources and capacity to be shared across borders to reduce costs, improve security of supply, better integrate renewable energy and achieve climate change targets. These outcomes should encourage negotiators to ensure the maximum continuity with the existing provisions applicable to the EU-UK relationship in the energy sector, adds the group, which also suggests:
• Carbon pricing – the group welcomes that both parties recognise the benefits of a UK ETS linked to the EU ETS. It should be agreed with urgency that this link will be negotiated.
• Cooperation and collaboration – both parties show strong commitments to collaboration and cooperation between regulators, system operators and other relevant stakeholders and we fully agree.
• Electricity and gas trading – we welcome that both sides agree on the need and the benefits of efficient and cost-effective trading over interconnectors.
• Climate change – we welcome that both negotiating parties remain fully committed to the goals of the Paris Agreement and to their own domestic legislations and climate targets.
• Offshore grid projects in the Northern Seas – both parties commit to continued collaboration, which is a positive step, but further details are needed.