- Conference
- 2011 Energy Service Group Conference
- Date
- 25 February 2011
- Decision
- Carried
Conference notes that within the energy sector there is an increasing trend of ownership of gas and electricity distribution networks by pension funds and private equity consortia. The sale of network businesses by National Grid, EDF and United Utilities to such owners will likely be added to by other companies seeking to raise funds for capital investment or shareholders. The water industry in England has seen similar developments in recent years.
While the impact of the change of ownership on members has been limited by TUPE and the strength of union organisation, the fragmentation of the industry and its sale to private equity organisations whose only interest is to maximise their return -often by loading debt onto the acquired business’s balance sheet -is unwelcome. Conference notes the apparent indifference of OFGEM to these sales.
Conference instructs the Executive to prepare a report for branches on the scale of the ownership changes and draw up an organising strategy to ensure that the interests of UNISON members are not compromised.