The UK’s largest energy suppliers are about to offer long-term contracts without knowing what regulations will apply after Brexit, creating the risk of higher costs for households and companies, an industry body said. From October, Britain’s four biggest electricity producers – EDF, RWE, Scottish Power and SSE – will set the price for their winter 2020/2021 contracts to supply smaller UK providers, as required by UK regulator Ofgem. But the UK could crash out of the EU without a deal, potentially ending participation in the EU’s internal energy market and emissions trading scheme. If the UK reaches a deal, the agreed transition period only runs until December 2020, leaving companies uncertain whether the EU’s carbon pricing and other rules will apply to them in 2021.
FT 28th Aug 2018 read more »