Search

Islington Council to create trading company to sell expertise

PUBLISHED: 16:00 17 May 2014

Bunhill Energy Centre in Central Street, Finsbury

Bunhill Energy Centre in Central Street, Finsbury

Archant

An independent trading company run by council staff will be set up to profit from the town hall’s expertise.

The venture, which will primarily be used to make money from the borough’s ground-breaking energy initiatives, would allow the council to charge private companies for services.

The town hall expects to make £50,000 this financial year by passing on its experience with Bunhill Energy Centre, which currently heats 700 homes and two leisure centres in Clerkenwell, to other councils.

The company, which does not yet have a name, would be staffed by council workers alongside their normal jobs and would be provided at a “negligible cost” to Islington Council.

Cllr Andy Hull, executive member for finance, said: “At the moment we can sell expertise to other councils but not to private organisations, for example, Arsenal.

“By setting up a trading company we hope to trade services with private companies and charities.

“We’re ahead of the curve in terms of power and we’ve got the know-how that lots of other councils and private companies want. Why not make the most of it?”

First

Members of the council’s executive agreed the plans set out in a document on Monday night, which includes a case study from highways and energy services which estimates a turnover of £2.4million and the potential for its own independent workforce.

As well as profiting from consultancy, the paper also sets out services that the council could sell – including grounds maintenance, metalwork fitting and infrastructure repair.

Cllr Hull believes the company will be the first of its type in London.

“With £95million of savings to make over the next four years, the most attractive way to close that gap is to generate more income rather than making savings.

“It would just be energy to start with. We’re dipping our toe and if it’s successful we will think about what else could work.”

Bunhill Energy Centre was opened in 2012 and pumps hot water to flats and houses on the Stafford Cripps, Redbrick and St Luke’s estates, off City Road, Finsbury Leisure Centre, in Norman Street, and the Ironmonger Row Baths.

In a ground-breaking project targeted for 2016, the substation will heat another 500 homes in the borough using waste heat from London Underground tunnels.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Islington Gazette visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Islington Gazette staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Islington Gazette account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Latest Islington News Stories

Fri, 18:09

A mystery spectator gifted £800 to a Newington Green marathon runner’s fundraising campaign after being inspired by her dash for the line, six minutes before the event’s cut-off.

Fri, 14:49

The town hall has started a £22million programme to deal with chronic damp problems in two of Islington’s biggest estates.

Fri, 11:03

A report published last year aimed to find a way to cure Islington of its chronic problems with damp and mould. Last night the council said the more radical recommendation were simply too expensive.

Fri, 07:53

Islington Council last night approved new policy to fight tax dodging contractors.

Thu, 12:45

Caroline Russell last night claimed she was the only realistic candidate to contest Jeremy Corbyn’s Islington North seat in June’s general election.

Thu, 11:00

In a weekly feature, we profile a fascinating company doing business here in Islington. This week, we re-visit Hammerton Brewery, which is expanding by opening a new pub in Holloway Road.

Thu, 10:41

Archway dwellers could soon be taking a stroll through Junction Square, Archway Plaza – or possibly Squarey McSquareface.

Thu, 07:30

Islington Council “failed” a vulnerable teen who was stabbed to death in the supported housing he shared with his killer. That’s the belief of Lance Scott Walker’s heartbroken family, who saw his killer locked up this week.

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now

Newsletter Sign Up

Sign up to receive our regular email newsletter

Most read news

Digital Edition

cover

Enjoy the
Islington Gazette
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now