Page 12 - Gi flipbook March 2018

NEWS | INTERNATIONAL

EUROPE
Brexit “could cause energy shortages and

higher gas and electricity bills”

Brexit could impact foreign gas supplies

THE UK FACES energy It said trading outside of It is unclear how the “as close as possible” to
shortages and hikes the EU’s Internal Energy UK would fit into this the single European market
to household gas and Market would likely be less arrangement after it to which non-EU member
electricity bills after Brexit efficient than trading inside leaves the single market Norway belongs.
if the transition is not it, meaning consumers in March 2019. Chair She said Norway was
managed well, warns a could be forced to pay of the Committee Lord ready to negotiate in any
House of Lords committee. more and energy supplies Teverson said: “Individuals policy areas that were
Multiple bodies told the may be at risk during and businesses across the left outside an eventual
EU Energy and Environment extreme weather or when UK depend on a reliable agreement between the EU
sub-committee that the UK power infrastructure suffers and affordable supply of and Britain.
has become increasingly technical problems. energy. In recent years, “Of course we hope for
reliant on energy imports. The Lords called on the UK has achieved such a Brexit that connects the
Around 40 per cent of government to set out how a supply in partnership British... as close as possible
the UK’s gas supply now it will work with the EU to with the EU, working with to the single market.
comes from Norwegian and manage these problems. other member states to That will be the easiest
other European pipelines In its evidence presented make cross-border trade in way to work together in
while around 5-6 per cent to the committee, the energy easier and cheaper. the future,” Solberg told
of electricity comes from Durham Energy Institute “Over the course of the Reuters on the sidelines of
France, Holland and Ireland. concluded: “Whatever the inquiry, the committee a business conference.
Frictionless trade in final detail of the EU exit heard benefits of the UK’s “If not, we are prepared to
energy with European terms the UK is likely to current energy relationship negotiate in all of the areas.
partners could be put at be more peripheral to EU with the EU, and the We feel we have a good
risk after the UK’s departure energy markets which will minister acknowledged cooperation both with Britain
from the single market, mean higher prices and these benefits when he and the EU,” she added.
reports The Independent. more unreliable supply. stated his hope that Brexit Norway is Western
“Also, supply risks will would result in as little Europe’s top producer of
increase around issues such change as possible. oil and gas, and has an
as importing gas through “It remains unclear, intricate network of pipes
ECIU
subsea pipelines or electrical however, how this can be for transporting its natural
interconnectors linking the achieved, without remaining gas to Britain, Germany and
UK to other EU countries.” in the single market, IEM other European nations, but
Under the EU’s solidarity and the other bodies that Brexit was unlikely to affect
principle for gas, member develop and implement the energy exports, Solberg said.
states are obliged to help EU’s energy policy.” “I don’t think it affects
each other maintain supplies Norway’s Prime Minister the energy sector for the
Lord Teverson in the event of one country Erna Solberg has said she cooperation in our gas
experiencing a problem. hopes Brexit will tie Britain trade,” she added. ■

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News.indd 7 15/02/2018 14:25