Press Release

Labour Party conference carries GMB motion to end 'free market fundamentalism' in the energy sector

The Labour Party conference voted by an overwhelming majority to carry the GMB motion on energy regulation in the UK which called for an end to ‘free market fundamentalism’ in the energy sector (see the text of the motion in note1 below). The motion called for Ofgem to be replaced by a powerful regulator who has powers to cap energy prices. It also called for an energy strategy based on planning and proper funding to ensure a secure energy supply. A GMB fringe meeting held on 21st September reviewed how the lack of regulation in London gave rise to global speculation in the oil market and steps that have been taken by the US authorities to close the ‘London Loophole’. The text of GMB Contemporary Resolution 2008 is available at www.gmb.org.uk Contact: GMB Press Office on 0208 947 3131.