Instead, the union wants the government to take over as a regulator directly-accountable to MPs in the Westminster parliament.
The move stems from proposals from OFGEM that it will deliver ‘more competitive and fairer energy market’ in its proposals contained in its response to the report from the Competition and Markets Authority.
Justin Bowden, GMB National Secretary for Energy, said: “Here we go again with more OFGEM tinkering over the pretence that a free market is possible in this sector.
“OFGEM should be abolished and the Government itself should take over responsibility for regulating the industry so both are accountable to Parliament.
“Government cannot duck taking the decisions needed to keep the lights on and ensure the decarbonisation of the sector. Government should also have powers to cap prices and limit profit levels and, where necessary, to finance and run power stations.”
See also: OFGEM warns Big Six to play fair with energy consumers