Wednesday 1 May 2019

Brexit … and your business energy costs

Brexit … and your business energy costs

Brexit heralds a new dawn of uncertainty – so what does this mean for your business energy bill?

With potential restrictions on staff, commodities and exports across borders, there’s also the inevitable impact on your business energy tariffs.

Unpredictable energy prices

Whether you were Leave or Remain, there were clear advantages brought by open borders, frictionless trade, unrestricted worker movement, common tariffs and access to Europe-wide energy sources. This helped predict a steady flow of supply and demand. But this may all change soon.

Security of supply

Security of supply and access to energy could become hugely problematic for the UK according to the government’s website when they comment ‘it may be necessary to seek additional powers to preserve security of supply’.

Pipelines bring a large supply of gas into the UK from Europe and free flow of energy across ‘interconnectors’ is vital to keep competition up, and prices down. There is little evidence of a strategy that will address this issue once we leave. Although green and clean energy supply across the UK slowly increases, there is no way it will fill such a big void.

The negotiation period is being extended and we know businesses will be unsure what the future holds. Like yourselves we will watch with interest as the story unfolds. To read more blogs visit our website here.

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Written by

Bruna Pinhoni

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