Insights / Brexit: Deal or No-Deal, there’s just one month to go

Brexit: Deal or No-Deal, there’s just one month to go

2nd December 2020

The UK left the EU on 31 January 2020 and the transition period will end on 1 January 2021. So we’re letting you know that Drax is ready to continue supplying the reliable, affordable energy you depend upon.

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In our preparations for this end-date, we’ve worked closely with our supply chain partners, as well as regulators and the Government. We’re confident that we’re ready for the transformation – and that we can support you to navigate your business through these changes too.

What Drax has done

We’ve implemented several measures to make sure you continue getting the energy you need:

Keeping our global supply chain moving

We’ve engaged with our supply chain partners to ensure they’re ready for Brexit and to consider any possible changes in supply lead times. We’ve also reviewed our supplies of critical goods and performed detailed operational assessments to consider alternative arrangements in the highly unlikely event of disruptions to our supply chain.

Supporting our colleagues

Every business is only as good as its team. From our engineers to our call centre colleagues, we’ve worked together to get prepared for what the end of the transition period means for them and their families.

Engaging with Government and regulators

We’ve worked closely with these stakeholders to identify which policies and legislation must change. By doing so, we’re ensuring we can continue to generate power safely and effectively – regardless of the outcome of ongoing trade negotiations.

What your business needs to do

Whether a free trade agreement is found or not, you should prepare for changes. These are some of the steps you can follow to help protect your business:

Review your trade flows and supply chain

Engage with your suppliers about their post-transition arrangements, and consider the possible impacts of shifts in the exchange rate and supplier payment schedules.

Identify your customs requirements

Find out what you must do to complete your customs declarations, and decide whether you need external support to handle it for you. You might need to register for an Economic Operators Registration and Identification (EORI) number to move goods in or out of the EU – it takes around a week to get one via the website.

Distinguish which parts of your business are subject to EU regulation

Being aware of the relevant regulations means you can assess your need for additional authorisations. If your business has relied on licences from UK agencies, consider transferring them to an EU authority (or applying to that EU authority for a new licence).

Check if the new immigration rules affect your business

Your employees in the EU may need a visa, and to meet certain professional requirements, to continue working. Also, European citizens will need to apply to the EU Settlement Scheme before 30 June 2021 to keep their right to work in the UK.

Safeguard personal data

If your business handles personal data, make sure you have adequate safeguards in place so you can continue to transfer data to and from the EU. You may need to make contractual adjustments to keep accessing this data.

For a personalised list of actions, visit the Government Transition Site. If you move goods between Great Britain and Northern Ireland, go to Trader Support Service.

You can find additional resources on these websites: British Chambers of Commerce, CBI, FSB, SAGE.

Discover what we’ll do to support you

We know these are uncertain times for your business and we want to make sure you’re aware of everything we’re doing to minimise disruption.

Please contact us if you’d like to find out more.

Get in touch

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