Angelic Energy: Islington Council criticised over link with £8million-losing partner company
PUBLISHED: 11:03 30 April 2018 | UPDATED: 11:03 30 April 2018
Islington Council has said its cheap energy tariff is safe – despite being linked to a company which lost £7.59million in the last financial year.
At the Gazette local elections hustings last week, town hall leader Cllr Richard Watts came under attack from Liberal Democrat opponent Nick Wakeling over Angelic Energy.
It’s a scheme in partnership with Nottingham City Council’s Robin Hood Energy company, which made the huge losses in the 2016/17 financial year.
A town hall spokesman said Angelic Energy can’t go bust, but Robin Hood can. If it did, the energy regulator Ofgem would step in and appoint a new gas and electricity supplier for Angelic.
But Mr Wakeling countered this week: “Ofgem stepped in when GB Energy went bust after suffering far lower losses – £630,000 compared to Robin Hood’s £8m – and residents faced higher charges as a result. Where was the council’s due diligence before they entered into this contract?”