March 15, 2019 / 4:16 PM / a year ago

UPDATE 1-France's CRE approves hard Brexit access rules for power interconnector

(Adds details, background)

PARIS, March 15 (Reuters) - French energy market regulator CRE said on Friday that it had approved daily rules for access to the France-England high-voltage electricity interconnector which would come into force in case Britain were to leave the European Union without a deal.

The regulator CRE said specific daily auctions would be held from March 31, 2019 delivery, to allocate capacity for the 2,000 megawatt undersea electricity interconnector.

CRE had previously said that it was preparing a mechanism which would allow continuity in day-ahead electricity auctions between Britain and France in case there is no deal for Britain to leave the European Union on March 29.

CRE said that in the absence of a postponement of the date of Britain’s withdrawal, or the signing of a withdrawal agreement by that date, European legislation, particularly regulation governing the allocation of power capacity, would no longer apply to the United Kingdom from March 30.

British Prime Minister Theresa May is expected next week to try and persuade lawmakers to back her Brexit deal after parliament voted overwhelmingly on Thursday to seek a delay to the March 29 exit date. (Reporting by Bate Felix, editing by Louise Heavens and Louise Heavens)

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