Brexit: potential implications for the water sector in England and Wales
Following the vote on 23 June in favour of the UK leaving the EU, this note presents initial thoughts on some key areas where the outcome of the referendum vote may affect the water sector in England and Wales. Read More
Brexit: how will it affect transport?
The UK House of Commons Library has updated their briefing note on how Brexit will affect the transport sector. Read More
Brexit: implications for the energy market
The outcome of the UK’s EU referendum on 23 June 2016 had an immediate effect on the financial markets in the EU and beyond. However, exchange rate effects aside, it is arguable whether it has had any significant impact on the prices of energy commodities. We look at the main features of current UK electricity market policy, before examining two potential consequences of Brexit on the sector. Read More
Brexit: implications for state aid rules
As the UK steel industry continues to struggle, trade unions and other interested parties have called on the UK government to offer state support to the Port Talbot steelworks. This has not yet materialised, however, largely due to concerns over a potential breach of state aid rules. Read More
Brexit: implications for the transport sector
Oxera has undertaken an independent review of the likely impact of Brexit on different modes of transport. Read More
Brexit: implications for the transport sector
What would be the impact on transport if the UK voted to leave the EU? Given the UK’s geographic position, sea and air transport provide important links to the rest of the EU and further afield. As Brexit would be likely to affect the cost of transporting passengers and goods between the UK and other countries, these industries and the economic activity that they support would also be materially affected. Meanwhile, the removal of EU rail legislation could enable significant changes in industry structure Read More
Brexit: implications for state aid rules
EU state aid rules play an important role in many member states. The UK has recently seen heated debates relating to the closure of steelworks and the construction of nuclear plants, where political and business decisions are in part shaped by state aid rules. What would happen in the case of Brexit? Read More
Brexit: implications for competition enforcement in the UK
Competition law may be one of the legal areas most strongly affected if the UK leaves the EU. This would be due to changes in the relationship between the UK and EU competition authorities, potential inconsistencies in the findings or approach of those authorities, and the potential migration of some types of work away from London and into one of the remaining EU member states Read More
Brexit: what do prediction markets tell us about its likelihood?
In the run-up to the EU referendum—and all significant political events—the results of opinion polls are closely followed by those seeking to track the likely direction of the vote. However, polls are far from being the only way to estimate the probability of an uncertain event; analysis of bookmakers’ odds suggest that there is currently a 23% chance1 of the UK public voting to leave the EU, suggesting that Brexit is perceived as more likely than Scotland voting for independence was at a comparable moment in the campaign. How can such prediction markets be used to draw inference about how their participants expect these events to unfold. Read More
Brexit: implications for the GB electricity market
Despite the UK being part of the EU Single Market, trade in electricity between Great Britain and connected markets is significantly affected by differences in CO2 taxes, as well as in transmission and balancing charges. Brexit may give the UK the opportunity to adjust for this effect through import tariffs. If this happens, what would be the impact on the GB electricity market and trade in electricity? To answer this question, Oxera has estimated the likely changes using its electricity market dispatch model. Read More