EU-UK summit
Deal between London and Brussels can help with the electricity price
What effects does the new agreement between the EU and Great Britain have for consumers? The analysis of an expert provides initial clues.
According to an expert, the agreement between Great Britain and the EU could also benefit Germany, especially for the electricity price. “Above all, the common interest in improving electricity trade has the potential for a cheap and green power supply, especially in the EU,” said Marc Lehnfeld from the federal society Germany Trade and Invest (GTAI) in London of the German Press Agency.
The United Kingdom is the world’s second largest producer of wind power at sea. “The strong expansion of renewable energy on the British island will make the kingdom a net electricity exporter in the next ten years,” said Lehnfeld. With the installation of the Interconnectors Neuconnect and Tarchon, the first direct power connections to Germany would be created. “This will also benefit German companies and consumers in terms of perspective if a deal succeeds,” said Lehnfeld.
“Historical” deal five years after the Brexit
Great Britain and the EU had agreed to rapprochement after months of negotiations on the topics of defense and security, food standards, fishing, energy and irregular migration. EU Commission chief Ursula von der Leyen spoke of a “historical moment”.
According to Lehnfeld, the deal is also clearly noticeable in the intended settlement of the PLC Agreement, the controls of food and living animals, feed, plants and seeds. “This makes trading with fresh food much easier and cheaper because health certificates and checks can be omitted at the customs limit,” said Lehnfeld.
This is “a good signal for food manufacturers and retailers in the EU and in the United Kingdom who suffered from export from the current bureaucratic burden or even withdrawn from the other sales market”. However, both sides initially confirmed the will for a common PLC agreement. “The details still have to be negotiated,” said Lehnfeld. “Last year food and drinks made 6.1 percent of the overall German exports to the British island. In bilateral trade, the proportion of food and drinks is 5.3 percent.”
dpa
Source: Stern
