Brexit is coming: what are the implications for the EU and UK energy markets?
- Nicola Shaw, UK Executive Director at National Grid
- Fintan Slye, Chief Executive of Eirgrid
In recent years, the UK has been a significant advocate of the EU’s Internal Energy Market (IEM), and is increasingly connected physically to EU countries through gas and electricity interconnectors. The outcome of the 23rd June Referendum therefore raises a number of questions as to how, and in what form, energy cooperation will continue Post-Brexit. These issues are crucial for the EU and the UK, to mitigate detrimental effects on security of supply, affordability and low carbon ambition.
National Grid has been leading this debate for over two years, publishing a report before the referendum looking at the potential impacts of Brexit on energy consumers, and highlighting the benefits that might be lost. They have also continued to look at impacts in more detail and were delighted to share these with EEF members and get their thoughts on the topic.