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GMB Responds to Energy Price Cap Legislation

Monday, February 26, 2018

 

GMB RESPONDS TO ENERGY PRICE CAP LEGISLATION

Government must distinguish between profiteering and the resources needed to generate jobs and pay for the infrastructure needed to maintain our power networks says GMB

GMB, the union for energy workers, has responded to legislation to cap energy tariffs.

The Government will today introduce the Domestic Gas & Electricity (Tariff Cap) Bill in Parliament.

The legislation will require Ofgem to cap tariffs until 2020.

Justin Bowden, GMB National Secretary, said:

“In introducing this legislation, government must distinguish between profiteering and the resources needed to generate jobs and pay for the infrastructure needed to maintain our power networks says union.

“If the balance wrong is, it will lead to massive job cuts and seriously damage investment into the UK’s vital energy infrastructure and if this ends up a botched exercise, GMB will not hesitate to defend UK jobs and fair pay and conditions.

“In all the predictable froth about competition and profiteering in what are natural monopolies, nobody should lose sight of the facts.

"GMB has been saying for a long time that the idea of a competitive market in a natural monopoly is a massive contradiction in terms which we all end up paying for through our energy bills.

“If Goverment really wants to make a change, then it would abolish Ofgem and make energy regulation subject to scrutiny and accountable to parliament with the powers to cap prices if deemed necessary part of this new legislation.”

ENDS

Contact: Stuart Fegan on 07912 890434 or GMB press office on 07958 156846 or at press.office@gmb.org.uk

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