‘London Power’ energy company launched this morning – but partnered with a private company, not owned fully by the Mayor, as pushed for by Caroline Russell AM.
Londoners need a trusted, local renewable energy supplier that will benefit individuals, businesses, schools, hospitals and other public bodies. The Mayor’s ‘London Power’ will only supply domestic energy.
Caroline Russell has also recently called on the Mayor to address TfL’s poor record on green energy – just 0.01% of TfL’s energy comes from renewable sources. [1]
Caroline Russell said:
I had almost given up on the Mayor creating an energy company. I’ve argued with him to set up a fully-licensed company – which means wholly owned by London – to get the best benefits for Londoners.
The Mayor seems cautious that there will be any profits to be reinvested, but a company owned and run by the Mayor would be able to support investment in green technologies and create green jobs. While this package looks good, it remains to be seen if it can support investment of this kind.
The Mayor should also be seriously looking at cleaner, greener energy for TfL which currently sources only 0.01% of its energy from renewables.
Notes to editors
Editors’ notes:
Mayor’s announcement https://www.london.gov.uk/press-releases/mayoral/mayor-launches-london-power
[1] Mayor admits 'we can do much better' on TfL’s renewable energy https://www.london.gov.uk/press-releases/assembly/caroline-russell/we-c…