Gemserv is responding from the perspective of a UK based, specialist utilities consultancy firm. Although we conduct information security work internationally, we are also heavily involved in the UK energy market.
Gemserv has been at the heart of the UK energy market since 2002, and in particular, managing central market industry codes and agreements and systems. Industry codes play a fundamental role with respect to interoperability across the Great British energy market. Legislative and policy changes can have a significant impact on these codes, and therefore on how market participants interact with each other.
Our perspective is two-fold: in terms of risk, as a company working in the UK in an industry which is significantly influenced by EU policy; and in terms of the contracts we deliver having amendments as a result of industry change borne from EU-led policy decisions.
The key points drawing from our response are:
- Article 50 will take some time to conclude, which in itself, could, if not managed well, create a period of instability;
- We have an ongoing period of compliance pending the negotiated exit from the EU, meaning that the legislative obligations that we have in place today will continue for the foreseeable future; and
- The UK market requires a period of strong stabilisation to build investor confidence. This is particularly important to the energy sector as changes at primarily legislation level have wide reaching effects on the market, e.g. can have impacts on operational processes and procedures.
To read the full response please click below: