Compass Lexecon co-hosted this annual conference with the Florence School of Regulation and London School of Economics to discuss the impact of Brexit on the UK and European energy markets, focussing on areas including electricity and gas trading, interconnectors, nuclear and RES policies, the Clean Energy Transition, EU ETS and the I-SEM.
Fabien Roques chaired the first panel which focussed on the impact on the UK energy market in terms of electricity and gas trading, interconnectors, and nuclear and RES policies.
Charles Verhaeghe participated in a panel session on the impact of Brexit on the wider EU internal energy market. He discussed the impact on (i) operations (cooperation between TSOs, capacity calculations) and on (ii) markets (market coupling, intraday trading, balancing, capacity mechanisms). He also provided upper-bound estimates of consumer welfare loss from some of these issues. Charles concluded that the UK may lose credit in market design and policy-making in Europe, but that Brexit may give the UK freedom to develop a new market framework.
Speakers included: Dieter Helm (Oxford University), Paul Hallas (Centrica), Guillaume Dezobry (FIDAL), Gordon Downie (Shepherd and Wedderburn), Niall Hogan (ESB), Angela Hepworth (EDF), Silke Goldberg (Herbert Smith Freehills) and Ed Davey (UK Parliament).