GFTU BGCM 2019 Minutes
disruption and loss of food crops which are particularly volatile to climate
change, as extreme weather events affect international production, trade and
supply chains.
Moving on to energy, it is central to all our lives as workers and citizens within
our communities, that the markets will not deliver the rapid energy transition
needed to reach our 2050 targets. UK energy was privatised in the 80s and
90s as part of the Thatcherite drive to privatise public assets in what she
famously called a “share owning democracy”. The UK is fairly unique in having
a fully privatised energy system - generation, transmission, distribution and
supply. However, transmission is a natural monopoly and should be in public
hands, so that we can redefine energy as a public good to achieve important
public and social objectives such as development of renewable energy, control
of non-renewable generation, universal coverage, affordability, efficiency and
democratic accountability. Privatised energy companies have high profits and
high prices and are not concerned with issues of energy transition and fuel
poverty which comes as a result of high prices, low pay and poorly insulated
home. Mass retrofit programmes should be part of a programme of public
works to address energy poverty by making homes warmer and at the same
time reducing energy consumption and carbon emissions.
The 2017 Labour Party election manifesto said: “We will stop our financial
system being rigged for the few, turning the power of finance to work for the
public good” and committed to “transition to a public owned, decentralised
energy system”. The media often focuses on climate change levies as being a
cause of increases in energy bills. However, little attention is given to the vast
profits taken by energy companies such as the Big Six or network providers.
Citizens Advice has been critical of the price setting controls for energy
networks by Ofgem, saying it has “gifted huge profits that consumers have to
pay for through their bills”. A later report stated: “Energy consumers are
subsidising £7.5 billion in unjustified profits made by the businesses
responsible for the UK’s gas and electricity networks over an eight year period”.
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