Energy for London to power quarter of capital’s electricity from local low carbon sources
Boris Johnson has announced plans for the London Mayor’s office to become the UK’s latest electricity supplier with an official launch next year of a scheme aimed at lowering bills and bolstering the capital’s energy independence, writes Greenwise Business.
London will be the first public authority to receive a ‘junior’ electricity licence from industry regulator Ofgem as part of the plan to produce 25 per cent of the capital’s power from local sources by 2025.
Energy for London, as the scheme is likely to be named, will initially buy power from small-scale generators owned by London boroughs and public bodies and then sell it on to Transport for London and the Metropolitan police. First it must appoint an established power operator to help manage the systems.
“Nurturing a new crop of small, low carbon energy producers across the capital is the key to a more secure, cost-effective and sustainable energy supply for us all. Investing in locally sourced power will help keep Londoners’ fuel bills down and drive innovation, jobs and growth in this city’s burgeoning low carbon sector,” said Johnson.