UK Prime Minister Theresa May appears to be cruising unsteadily towards an election win June 8, butrna stronger domestic mandate will not resolve the seemingly irreconcilable issues at the heart ofrnBrexit. A ‘hard’ Brexit looms, a prospect which, while unlikely to impact UK energy trade flows in thernshort term, threatens to see non-tariff barriers emerge in gas and power markets, as well as furtherrndecline in the role of the UK’s NBP as the pre-eminent European gas trading hub. The UK-Norwayrnenergy relationship will become much more important, the EU ETS will lose a pro-reform advocaternand the UK refining sector could one day find itself on the wrong side of EU protectionism.
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