The boss of SSE has urged the government to keep “existing energy policy frameworks” in place post-Brexit.
Writing to business and energy secretary Greg Clark, he said doing so would provide stability for both current and future energy investments in the UK.
“The GB energy market requires considerable investment in the years ahead and SSE has outlined plans to invest around £5.5 billion in the period 2016-20,” wrote chief executive Alistair Phillips-Davies. “We said prior to the referendum that it did not present an immediate risk to how we serve our customers or to our investments, and this remains the case.”
Outlining three key concerns for post-Brexit negotiations, he said the UK should retain the ability to “access and trade with European electricity and gas markets” in order to ensure the security of supplies.
The Single Electricity Market for Northern Ireland and the Republic of Ireland and should also be maintained as well as their arrangements for gas so consumers can “continue to benefit from market efficiencies”.
Although the internal energy market (IEM) has “generally been beneficial”, if there was a divergence between the UK and the IEM, “it would not necessarily be disruptive to efforts to meet the UK’s energy aims.”
“As long as any change is supported by sufficient consultation and features agreed periods of transition then it can be managed,” he added.