Site Loader
Rock Street, San Francisco

TITLE: Brexit and your business energy: what to expect Individuals and businesses across the UK depend on a reliable and affordable supply of energy, but how will this be impacted by Brexit? A House of Lords committee has warned that the UK could face a post-Brexit energy shortage as well as hikes to household gas and electricity bills if the transition is not managed well.Brexit will cause energy trading to become less efficient, diminish Britain’s influence on energy rules and cast uncertainty over future European investment in UK energy infrastructure. The result is a significant impact on energy prices. Over the last few years, the UK has become increasingly reliant on energy imports.Currently, around 40% of the UK’s gas supply comes from Norwegian and other European pipelines, and about 5-6% of our electricity comes from France, Holland and Ireland. In the past, this reliance hasn’t posed a problem due to the frictionless, harmonised trade in energy with European partners. However, trading outside of the EU will likely be less efficient than trading inside it, causing consumers to pay more for a less reliable energy supply. Solidarity principle no more After March 2019, the UK will leave the single market solidarity principle for gas of the EU, which implies that member states are obliged to help each other maintain supplies in the event of one country experiencing a problem. Pre-Brexit, the UK has worked in partnership with the EU and other Member States to make cross-border trade in energy easier and cheaper. However, it remains unclear how this can be achieved when the UK leaves the single market along with the Internal Energy Market (IEM) the other bodies charged with developing and implementing the EU’s energy policy.Being outside the EU means that the UK may be more vulnerable to supply shortages in the event of extreme weather or unplanned generation outages in the subsea pipelines or electrical interconnectors linking the UK to other EU countries.Whatever the final detail of the EU exit terms, the UK is likely to be more peripheral to EU energy markets which will mean higher prices and more unreliable supply for consumers. Get the best post-Brexit business energy dealsMore than ever, with increasing prices of gas and electricity looming, businesses need to shop the market and compare energy quotes to get the best deals. At Smarter Business, we know that time is a valuable resource for SMEs and, we know that the process of acquiring and comparing quotes can be confusing and time-consuming. As an independent consultancy, we are here to help. We’ll do the hard work for you and help you do your business smarter, Brexit or none. Get in touch for free quote:

Post Author: admin


I'm Dora!

Would you like to get a custom essay? How about receiving a customized one?

Check it out