The Supreme Court ruling on the prorogation of Parliament has re-focused attention on the UK’s stated departure date from the European Union of 31 October. Across the country and throughout the economy, businesses are trying to determine what the various scenarios associated with Brexit mean for them and the respective markets.
Energy is no different, with developments at the macroeconomic level – such as exchange rate volatility, investment risk and regulatory uncertainty – jostling for dominance with matters specific to the energy sector.
The future of carbon pricing, cross-border flows and the potential for new energy tariffs are all among the issues under consideration and which will affect the future direction of wholesale prices, and hence customers’ bills.
While determining the specific impacts of these issues remains difficult while the Brexit situation remains in flux, Cornwall Insight’s factsheet on considerations for the energy sector provides a high-level perspective on some of the key Brexit-related issues.
Cornwall Insight Senior Consultant Dr. Craig Lowrey said, “With the uncertainty over the UK’s future relationship with the EU showing no signs of clearing as yet, it is important to understand what the main challenges could be for the UK’s energy sector – both ahead of 31 October and beyond.”
Click here to download a copy of the Brexit considerations factsheet. If you would like more information on the considerations ahead of 31 October and beyond, please contact Dr Craig Lowrey on 01603 604400 or email c.lowery@cornwall-insight.com
