Source · Select Committees · Business and Trade Committee
Recommendation 12
12
Accepted
Energy trade presents a major opportunity for enhanced UK-EU cooperation.
Conclusion
Energy trade represents a major opportunity for enhanced UK-EU trade and cooperation. Given shared strategic objectives—reducing carbon emissions, improving energy security, and expanding renewables—both sides have a mutual interest in strengthening their partnership. (Conclusion, Paragraph 64) 46
Government Response Summary
The government welcomed the Committee's conclusion on energy cooperation and stated that the UK and EU agreed to stabilise the TCA's Energy Title, explore UK participation in EU electricity trading platforms, and strengthen cooperation on clean energy technologies.
Government Response
Accepted
HM Government
Accepted
The Government welcomes the Committee’s recommendation on improving our energy cooperation with the EU. At the UK-EU Summit, the UK and EU agreed to stabilise the Energy Title under the Trade and Cooperation Agreement (TCA) by extending its application on a continuous basis. We also agreed to explore the possibility for the UK to participate in the EU’s electricity trading platforms - efficient electricity trading is crucial to reducing the cost of electricity across the UK and EU, getting the most from our existing interconnectors, and developing new clean technologies in the North Seas. Finally, we agreed to strengthen cooperation on clean energy technologies such as hydrogen, carbon capture, usage and storage and biomethane. These measures will reduce the cost of electricity and support our mission to make the UK a clean energy superpower.