UK and EU business leaders warn that without post-Brexit agreement, energy costs could rise

An alliance of top-level UK and EU businesses has highlighted the importance of continued energy co- operation regardless of the Brexit outcome in an open letter to Prime Minister Theresa May and President of the European Commission Jean-Claude Juncker.

Signatories of the letter included the heads of Unilever, EDF, the CBI, Energy UK and Renewable UK.

In the letter, published on 4 September, the businesses proposed continued cooperation between the UK and EU in tackling climate action, highlighting the importance of a comprehensive Climate and Energy Chapter in any Brexit agreement.

In the letter, the group said: “The success of the Paris Agreement will ultimately rest on Parties’ delivery against agreed targets. Dynamic and forward-looking cooperation between the EU and the UK on climate change and energy policies, standards and clean energy infrastructure would keep costs down and increase the pace of the low carbon transition.

The letter called for specific actions to make sure that businesses will not face higher bills. These included keeping no tariffs on energy trading, as well as ensuring that high environmental standards are kept. It also underlined the importance of ensuring that diplomatic cooperation on climate change issues continues and that the two parties continue to co- invest in clean energy infrastructure.

Other ideas that the letter proposed were for both parties to prioritise the delivery of non-tariff barriers to trade in low-carbon goods and services, and the agreement that the UK will continue participating in the EU’s carbon market until at least more

Download / View Full Post