Published: 3rd Jun 2020

Bristol City Council has announced it is to put Bristol Energy up for sale. The cabinet met yesterday (2 June) and agreed to sell the local authority-owned company, which was founded in 2015. The current mayor of Bristol, Marvin Rees said the company has faced unprecedented challenges since being established by his predecessor. Earlier this year, the council commissioned Ernst & Young to conduct a full and thorough assessment of Bristol Energy’s structure and future business viability. The council will now seek a buyer for the company. ‘Establishing an energy company was always a high risk for the council, and one which has brought continued challenges,’ said Mr Rees. ‘The energy market is dominated by well-established far larger energy providers. Having inherited a failing company where £15 million had already been spent or earmarked for spend, we were faced with a choice. ‘We could have closed the company then or tried … (To read the full article, subscribe below)