Access to the single energy market was one of the priorities identified by energy professionals during a Question Time-style debate hosted by The Energy Institute in relation to Brexit negotiations.
KPMG head of power and utilities Simon Virley also believes the key negotiating point in relation to energy is continued access to the Internal Energy Market which enables tariff-free trading of gas and electricity across Europe, allowing UK consumers access to lower wholesale prices. Operating outside this system post-Brexit could lead to tariffs being imposed and subsequent restrictions on trading power across borders and higher consumer prices. (Petroleum Review Dec 16/Jan 17)
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