Licence Lite (3)

Meeting: 
MQT on 2015-11-18
Session date: 
November 18, 2015
Reference: 
2015/3893
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

The GLA website includes the following in relation to your Licence Lite programme - "By 2025, it could create £8 billion of investment and around 850 jobs every year." What is the evidential basis for this estimate? 

Answer

Answer for Licence Lite (3)

Answer for Licence Lite (3)

Answered By: 
The Mayor

The figure of a potential of £8 billion of investment is derived from the GLA's Decentralised Energy Capacity Study (Phase 3) of October 2011 and is a prediction of the cost of providing a quarter of London's energy demand from renewable and low carbon sources. Licence lite can help towards attracting the level of investment involved.

The estimate of around 850 jobs is based on the estimated job creation from the number of decentralised energy projects already brought to market, when their construction is complete, together with other projects in an advance stage of development. The calculation of jobs arising from those projects is based on data from the Office of National Statistics which has determined a benchmark of 11.8 jobs per £1 million of spend.