The smell of FAILURE hangs heavy in the air around BRISTOL ENERGY, Bristol City Council’s energy reselling business set-up at great expense with public money.
Despite the council’s best efforts to keep the financial performance of the year old company TOP SECRET, it’s widely known that the company’s original business plan has FAILED.
“The energy market is showing significant price volatility,” is the current form of words being deployed by council bosses for this deplorable state of affairs. While, behind CLOSED DOORS, large sums of our money are being conjured up and another business plan hastily cobbled together by a secret committee, safely hidden away from anyone who might call it like it really is.
We also understand that council bosses have been FORCED to set up an Audit and Remuneration Committee for the firm. Although many might say this kind of basic financial oversight committee should have been in place before the company began trading.
Strenuous efforts are also being made by the Mayor’s office to avoid consolidating the company accounts into the Council’s accounts for 2016/17. As a wholly-owned subsidiary of the council, it’s standard accounting practice that their wholly-owned energy company’s accounts are PUBLISHED alongside the council’s in its annual reports. Hardly ideal if you’re trying to hide losses into six or, even, seven figures from the public!
Meanwhile, the architect of this UNDERPERFORMING SHAMBLES, council Service Manager, Bill Edrich, has been instructed by the Rev Rees to ensure an “orderly exit strategy” forms part of the company’s new business plan.
Watch this space.
Wasn’t this a RedPants / Nicola Yates co-production? No doubt there will be a suitable salary enhancement / redundancy package for this failure. Paid for by you-know-who.
Wirral Council are about to venture forth on a similar “opportunity”, meanwhile, we council tax payers are all donning hard hats and running for cover