Brexit update: UK to draw up ‘Brit-atom’ treaty for nuclear fuel and to remain eligible for European Investment Bank funding (until Independence Day)

Amid the massive-slice of Brexit fudge over the UK remaining in the EEC ( ie the single market and customs union) announced last week by the Brit-Govt and the EU Commission, two points of clarity have emerged on energy related issues:

First, the Brit-Govt has confirmed it will remain in, and bound by, the operating terms, conditions and obligations of the European Investment Bank – which is a major source of funding for renewable energy projects.

But after ‘Independence Day’ – ie when the UK formally leaves the EU-bloc, UK projects will not be eligible for funding from the EIB.

And second, the Brit-Govt has confirmed it will produce its own ‘me-too’ domestic version of the Euratom Treaty on nuclear fuel.

Article 89 of the Joint Report on Brexit from the EU and Brit-Govt states:

“On Euratom-related (nuclear specific) issues both Parties have agreed principles for addressing the key separation issues relating to the UK’s withdrawal from Euratom. This includes agreement that the UK will be responsible for international nuclear safeguards in the UK and is committed to a future regime that provides coverage and effectiveness equivalent to existing Euratom arrangements.

“Both sides have also agreed the principles of ownership for special fissile material (save for material held in the UK by EU27 entities) and responsibility for spent fuel and radioactive waste.”

Meanwhile, in the ‘battle of jurisdictions’ as to which laws should apply (ie English  / Scottish courts or the ECJ) for resolving disputed commercial contracts,  the Brit-Govt (and the EU) agreed to disagree pro tem.

Paragraph 91 of the Joint Report – opaquely – states;

“There was also agreement to provide legal certainty as to the circumstances under which Union law on jurisdiction, recognition and enforcement of judgements will continue to apply, and that judicial cooperation procedures should be finalised.”

11 Dec 2017