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Use Brexit to simplify energy policy, says think tank

Use Brexit to simplify energy policy, says think tank


The UK’s departure from the EU provides an opportunity to phase out “crude” energy policy interventions and lower costs for consumers, according to the Institute of Economic Affairs (IEA). In a report issued on Thursday 23 March, the think tank said that “inefficient and costly” green policies had caused energy bills to soar, and that the government should use Brexit to simplify its approach. In particular, it backed the establishment of a single market-based mechanism, such as a cap-and-trade scheme, to apply to all CO2 emissions, and said support for vulnerable households should come in the form of electricity vouchers to offset monthly bills.

IEA