An energy trading agreement could lower bills by allowing the UK and EU to cooperate more efficiently in increasingly volatile markets. That is why reports that the government is preparing the legislative groundwork to deliver on SPS and energy cooperation are significant. In dismissing renewed calls for a customs union, he suggested that while helpful, it would not be transformative enough. A customs union alone would deliver very modest gains while riling opponents. We’ve been pushing for them since 2023, and all sit comfortably within Labour’s stated red lines of no return to the single market, the customs union or freedom of movement.

Source: The Guardian January 08, 2026 08:29 UTC