A coalition of 20 European energy associations and transmission system operators (TSOs) has written to the North Seas Energy Ministers, urging improvements in electricity trade between the UK and EU to safeguard the future of offshore solar and wind in the North Sea.
The signatories, including Elia Group, Energy UK, SolarPower Europe, and National Grid, argue that current trading mechanisms are insufficient.
They warn that investor confidence in future offshore renewable projects is declining, and without more efficient trading systems, Europe risks losing critical investments in the region. “We should, in fact, be aiming towards a European energy system that is more independent, sustainable, and resilient,” the letter states.
The coalition recommends re-establishing price coupling between the UK and mainland Europe’s energy markets to address this. They argue that this would support climate goals on both sides and stimulate investment. Elia Group has also provided a technical proposal on how this could be implemented.
The letter urges EU and UK energy ministers to take concrete action at Denmark’s upcoming North Seas Energy Cooperation (NSEC) Ministerial meeting.
James Matthys-Donnadieu, Chief of Customers, Markets & System Office, emphasized the importance of UK involvement: “Market coupling and price convergence are prerequisites for successful UK-EU partnerships.”
Since Brexit, UK-EU energy trade has faced challenges, including in emissions trading. A report from Frontier Economics indicates that linking the UK and EU emissions trading schemes could save the UK government up to £8 billion between 2025 and 2030.
