What will the Brexit do to your energy bills?

24 March 2016

energy The Brexit (still a terrible nickname) is causing a lot of debate among people, but what will it mean for consumers? Well, in terms of energy bills, there's talk of them going up, with energy costs rising by £500 million per year, if the UK leaves the EU.

This is according to the Energy and Climate Change Secretary, citing a report from the National Grid. Amber Rudd is set to warn everyone that, should the UK vote to leave, it may get removed from the Internal Energy Market (IEM), which means higher costs which will be passed on to consumers.

In a speech, Rudd is saying: "Being in the EU helps us attract billions and billions of pounds of investment in our energy system and supply chain. Taken together, this investment helps support 660,000 jobs in the UK's energy sector."

Noting that certain countries (all eyes on Russia) use their gas supply as a political bargaining tool: "To put it plainly - when it comes to Russian gas, united we stand, divided we fall."

If you haven't heard of the IEM, it is a body that exists to try and keep good competition in the energy market in Europe, and promotes regulation, transparency, and consumer protection. For those wanting to leave the EU, they could well argue that IEM hasn't done a great deal of this for UK consumers thus far, and of course, the energy companies are ripping us off regardless.

The National Grid says that, basically, admin costs of getting supplies would increase if the UK isn't in the EU, but there's a chance that the UK would be allowed to stay in the IEM, so it all might be a moot point.

Chief executive of Vote Leave, Matthew Elliott, doubts Rudd's claims, saying: "It's quite extraordinary the extent to which the Government is willing to do down Britain in its desperate attempt to win the referendum."

"If we want cheaper bills, less commission interference and the ability to spend our money on our priorities, then the safe option is to Vote Leave."

TOPICS:   Consumer Advice   Utilities


  • jim
    well the EU question certainly is important. BUT - what everyone wants to know is where have the Deals of the Day gone? bitterwallet just isnt the same
  • Dave
    I feel like my energy bill has already gone up by £500 million a year.
  • Alexis
    Who cares when they don't do anything about the current lot of crooks anyway.
  • David
    Energy was cheaper before we joined the EU. In fact, lots of things were.
  • bill
    I'm sure that without the million pounds of 'membership fee' daily to be in the EU in the fist place we would all be fine if our utilities went up a smidgen per person. Small price to pay in exchange for freedom to govern our own country.
  • **Paul**
    "Amber Rudd is set to warn everyone that" Dave & George told her to put some scare stories out there about energy if we leave. Naturally as a good little lap dog tory she's done just that. The tory whips are working overtime at present.
  • **Paul**
    Update: Looks like the education secretary (Nicky Morgan) got the same message from Oinker Lover and Gideon to go those press releases out today.... Nicky Morgan: "It's clear, that if Britain leaves Europe it will be young people who suffer the most"
  • Father J.
    Energy bills will go up by 1000000000% and your whole family and their friends will die of cancer if we leave the EU, stupid.
  • Gas M.
    David, fingers crossed you're being ironic?

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment