The dust is beginning to settle on a tumultuous period for the United Kingdom. We want to address Brexit, its potential impact on your energy bill and renewable energy more broadly. Like many, we weren’t expecting the vote to Leave the EU. Despite the result, we’re prepared and our mission to transform the energy industry remains on course.
What impact will Brexit have?
So far, the impact on the energy markets has been limited, and we’ll continue to keep a close eye on the indicators of wholesale energy price changes. The UK is a net importer of energy. Devaluation of Sterling means importing energy becomes more expensive. If we see a significant rise in UK energy costs, we will, of course, keep you informed.
What we do know is the EU has lead the world when it comes to carbon reduction. European nations working together played a vital part in achieving the Paris agreement last year. The UK government has indicated they remain committed to the Climate Change Act, a piece of national, sovereign legislation unaffected by EU membership, which requires an 80% reduction in emissions by 2050. But now Britain has voted to leave the EU, more uncertainty means funding for renewable infrastructure – funding we badly need to meet those targets – may well be put at risk.
What can you do?
We believe it's crucial that the vote to leave the EU does not deprioritise climate change as an issue. You can take some simple steps that will have an impact:
1. Encourage your friends and family to switch to a renewable energy supplier.
If that's Bulb, awesome (and remember you can use your referral link and both get a £50 thanks from us), but any switch to renewables will help stimulate demand for clean energy.
You can ask them to lobby the government to prioritise cutting emissions and protecting our environment in the impending negotiations with the EU.
Seriously. At dinner parties, loudly on the train, to yourself while walking your dog. We need to change the way people engage with their energy use, and that starts with you.
We founded Bulb on principles of fairness, collaboration and innovation. The Brexit vote has made aspiring to these ideals all the more crucial. By working together, there's still enormous potential for the UK to lead the world in renewable energy and clean technology.
Got any questions? Jump into the community and we'll get right back to you.