Council launches local energy company

An ambitious plan to secure north London’s energy future was given the green light by Enfield Council last week (Wednesday 25 January).

The local authority has approved the £85m business plan for “energetik” to develop, own and operate a series of community energy networks to supply low carbon heat and hot water to more than 15,000 homes and businesses.
The company will develop four heat networks at Meridian Water, Arnos Grove, Ponders End and Oakwood.

Enfield Council’s Cabinet Member for Economic Regeneration and Business, Cllr Alan Sitkin, said:

“Energetik is a ground-breaking venture which will return £225 million of economic, environmental and social benefits to residents and businesses in Enfield and the wider community.

“The heat networks are designed to expand, with capacity to double the number of homes and businesses receiving heating and hot water across North London.”

The council is investing £58m to support infrastructure and help secure the area’s future energy needs and improve the environment. The local authority’s investment will be supplemented by the company’s own income, with energetik’s business plan funding the capital balance, bringing the total up to £85 million over the next 40 years.

Jayne Clare, energetik managing director said:

“Energetik is using Scandinavian design standards to improve the service and the industry in an unregulated market. We are putting customers’ needs first, before rates of return. We want to revolutionise the local energy market and be the supplier to trust.”

Heat networks already exist in the UK across Sheffield, Nottingham, Birmingham, Southampton city centres, with one of the largest new networks is the Olympic Village network in East London.