Statement on Together Energy investment

September 29, 2020 10:00 AM
By Cllr Bob Barr

Bob from MailerWarrington's latest investment in Together Energy, by acquiring customers from the failed Bristol Energy, needs more explanation than the Leader of the Council appears willing to give. For the Council's leadership to press on with investing hundreds of millions of borrowed pounds in ventures seen as risky and speculative without adequate explanation is breathtaking.

Three other local authorities have come a cropper in the complex and competitive energy market and have sold their investments after sustaining significant losses. Yet Warrington's leaders appear unwilling to explain to the public how acquiring an energy company ranked by Which as one of the worst performing in the country, followed by buying customer lists from another failing company, makes financial sense.

The people of Warrington deserve better explanations of what is being done with money that they and future generations will have to repay. They also need to be assured that Together Energy will not become a bottomless pit for money as other Councils have found with their energy investments.