Issue details

Decision type: Key

Decision status: Recommendations Approved

Wards affected: (All Wards);

Notice of proposed decision first published: 01/09/2022

This decision will be taken under urgency procedures.

Reason for urgency:
Energy prices for 2023/24 have risen significantly in the past few weeks, representing an increase of over £20m. The council has an opportunity to access significantly lower prices by terminating its existing energy supply contracts and joining a public buying organisation (PBO), which has already purchased most of next year’s energy supplies at a rate lower than current market rates. The potential cost avoidance at current rates is several million pounds. The PBO requires the council to contract with them by mid-September, thus requiring an urgent decision. It is not possible to postpone the decision to a future meeting of the Executive.

Please refer to the public notice and report for the full reason for urgency.

Anticipated restriction: Part exempt  - View reasons

Decision due: 1 Sep 2022 by Executive

Lead member: Councillor Rowena Champion, Executive Member for Environment, Air Quality & Transport rowena.champion@islington.gov.uk

Lead director: Corporate Director Environment and Climate Change

Department: Environment and Climate Change