The failure of the Conservatives to retain a majority may put pressure on the party to continue Britain’s membership of the internal energy market post-Brexit, experts have claimed.
The election results could push the Tories into reaching a compromise with those who would prefer a softer departure from the EU, according to energy analysts Cornwall.
“It’s difficult to know where energy ranks in the priorities for negotiations between the UK and the EU,” said Cornwall chief executive Gareth Miller.
“However, I think the weakening political power base of the as a result of this election makes it more likely that they will have to enter into dialogue with those who favour a different model of Brexit than the one that’s been pursued to date.
“Prima facie, anything that looks more like the UK retaining more conventional membership of the single market does lead you to the conclusion that staying part of the internal energy market is an easier thing.”
On the other hand, Miller warned it would be a mistake to draw any firm conclusions at this stage, as there are numerous political “moving parts” and the negotiations to leave the EU will be “incredibly complicated”.
“It’s really difficult to know what is the relative value each side is placing on different sectors,” he told Utility Week.
Miller made the comments shortly before Conservative leader Theresa May announced that her party has agreed to form a government with the support of the Democratic Unionist Party (DUP).
May is reportedly understood to be seeking an informal “confidence and supply” arrangement, whereby the DUP would lend its support to the Tories on a vote-by-vote basis.
Although the DUP supported the leave campaign during the EU referendum, party leader Arlene Foster has previously said that “no-one wants to see a hard Brexit”.