Decision Maker: Sutton Shareholdings Board
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Director (SDEN) introduced the report which updated the Sutton Decentralised Energy Network Performance Report and outlined that basic agreements were in the process of being signed and that a further £70,000 was required to capital and cost projections due to the complexities of the legal agreements.
Members questioned the additional costs and requested a breakdown. Officers advised that these were primarily around legal costs due to the complexity of the agreements but that a detailed breakdown would be provided to members outside of the meeting. Some of the work was being carried out by external legal advisers due to the specialist nature of the work. The cost would be absorbed by the company itself once it commences trading.
Members asked questions about the SDEN financial model which was recently independently reviewed by KPMG who raised no material issues. Officers advised that a summary of the findings would be circulated to members as this was not currently available. In addition members asked for a copy of the brochure which would be sent to residents.
That the performance update contained in the Sutton Decentralised Energy Network Performance Report, as set out in Appendix A, be noted.
Report author: Amanda Cherrington
Publication date: 26/06/2017
Date of decision: 14/06/2017
Decided at meeting: 14/06/2017 - Sutton Shareholdings Board