GMB responds to Tory announcement that regulator will cap energy prices
Ofgem must distinguish between profiteering and the resources needed to generate jobs and pay for the infrastructure needed to maintain our power networks says union.
GMB, the union for energy and gas workers, has responded to a Conservative Party pledge to introduce a cap for customers on the standard variable tariffs.
Justin Bowden, GMB National Secretary, said:
"Should this policy come into effect, and the regulator be given the job of capping energy prices, then Ofgem must distinguish between profiteering and the resources needed to generate jobs and to pay for the vital infrastructure needed to maintain our power networks.
“In all the predictable froth about competition and profiteering in what are natural monopolies, nobody should lose sight of the facts.
“If the regulator gets the balance wrong, leading to cuts to jobs or terms and conditions as a result, GMB will not hesitate to defend UK jobs and fair pay and conditions."
