Decision details

Victory Energy Supply Limited (VESL) - Expert Review of Business Case (reconsideration)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No




The Cabinet considered the options set out in the new report and in reconfirming their previous decision, taking account of the potential risks and rewards, determined that:


(1)          Option 4 should proceed, i.e. to seek to enter into a "White Label" agreement with an existing fully licensed energy supplier and cease investment into Victory Energy Supply Limited


(2)          external support be sought to enable the Council to cease its investment in Victory Energy Supply Limited (VESL) and seek to dispose of the Council's interest at the best possible value for the Council and to  delegate to S151 and City Solicitor to conclude all of the necessary agreements to facilitate a sale


(3)          any solar PV contracts entered into by VESL continue to be honoured by the Council;


(4)          the Council develops a comprehensive campaign for tackling fuel poverty and looks to resume the promotion of PCC's energy saving website;


(5)          an Outline Business Case be brought forward by the Council's in-house Energy Savings Team to re-evaluate commercial opportunities (previously approved by Cabinet 8 December 2016).


(The advice of the City Solicitor and Monitoring Officer is that this decision is not subject to call-in)

Report author: Chris Ward

Publication date: 27/11/2018

Date of decision: 27/11/2018

Decided at meeting: 27/11/2018 - Cabinet

Accompanying Documents: