On Monday 30 March, the Council of the EU formally authorised the European Commission to open negotiations with the United Kingdom on two agreements concerning the country’s participation in the EU’s internal electricity market and an appropriate British financial contribution to EU cohesion policy, according to a press release. The EU Council also approved the UK’s participation in the EU’s Erasmus+ programme for the year 2027.
The electricity agreement provides for the UK’s participation in the EU’s internal electricity market, at both wholesale and retail levels, with a dynamic alignment of UK legislation with EU regulations.
By aligning respective rules, this agreement would thus be “significantly contributing to energy security for both parties, especially amid the current geopolitical turmoil”.
The agreement on the United Kingdom’s financial contribution to reducing disparities between the regions of the EU by strengthening the bloc’s economic, social and territorial cohesion “is part of a consistent EU policy that couples the granting of market access to a third country with a fair financial contribution reflecting the benefits derived from such access”, adds the EU Council.
It will have to reflect the relative size of its economy and the share of the internal market in which it intends to participate. The two agreements will run in parallel and come into force simultaneously.
These various draft agreements are part of the re-launch of bilateral relations in May 2025 (see EUROPE 13643/1). (Original version in French by Solenn Paulic)