The UK has mapped plans for a “broad energy cooperation” with the EU after Brexit.
London has suggested a series of options for electricity trading in a white paper published on Thursday, including leaving the Internal Energy Market.
Under this scenario, the UK would “explore what would be needed to ensure trade over interconnectors would continue without automatic capacity allocation”.
The white paper also proposes continued participation in the internal market.
“In this case, the UK would need a common rulebook with the EU on the technical rules for electricity trading....as well as a consistent approach to carbon pricing necessary for the market to function,” said the document.
“However, the UK does not believe that participation in the internal European market should require a common rulebook on wider environmental and climate change rules.”
London also wants “to explore” options for continued transmission system operator participation in the inter-TSO compensation mechanism scheme and “continued membership” of European networks for the system operators.
Meanwhile, the UK has mapped a plan to preserve the single electricity market (SEM) that currently operates on the island of Ireland “in any eventuality”.
It said: “Negotiators have already made good progress on a legal provision to underpin the SEM in the withdrawal agreement and the UK will work with the EU to ensure that the SEM is maintained in any future scenario.”
The paper said the “UK remains committed to delivering cost-effective, clean and secure energy supplies”.