Issue - meetings

Report CSD22084

A motion to approve the following recommendations from the Executive was moved by Councillor Christopher Marlow, seconded by Councillor Tony Owen and CARRIED.

(1) Approve an annual budget from October 2022 of £4,026k for the purchase of Renewable Energy Guarantees of Origin (REGO) backed electricity, an increased requirement of £1,888k on the existing budget; Members should note that the cost would be £3,965k for brown electricity, which would be a required budget increase of £1,827k.

  (2) Approve an annual budget from October 2022 of £1,095k for the purchase of Renewable Gas Guarantees of Origin (RGGOs) backed gas, an increased requirement of £736k on the existing budget; Members should note that the cost would be £979k for brown gas, which would be a required budget increase of £620k.

(3) Agree a drawdown from the unallocated inflation provision in the 2022/23 Central Contingency of £1,312k for renewable energy, or £1,224k for brown energy, for the part-year increased cost in 2022/23, and to reflect the full year annual budget impact in the financial forecast.

  (4) Note that the sums above are the indicative cost for first year of the 3-year contract. Energy market volatility is hard to predict, and cost may go up in years 2 and 3 or may fall.