Tag Archives: Energy reseller

COUNCIL BASKETCASE BUSINESS NEWS

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Impressive news from Bristol Energy, Bristol City Council’s basketcase electricity reselling company that LOST £3.3million last year. Well, they’ve done whole lot better this year and will soon be posting A LOSS of £7.7million! Top work and trebles all round for the stupendously well-paid bureaucratic half-wits who thought this crap up.

There is room for optimism, however. Because Bristol Energy boss, Peter “High Pay” Haigh has taken to Twitter to assure concerned Bristolians that Bristol Energy MIGHT make a profit in about four years! Quite how much we’ll lose before High Pay manages to get a small profit dribbling in to his soppy business is anybody’s guess. Although judging by current trends, High Pay’s business is easily on course to lose us around £50million by 2021.

How the Reverend Rees is funding this loss-making nonsense is something of a mystery. Although if he’s borrowing the money to keep his MUNICIPAL VANITY PROJECT afloat, then recouping the investment and covering the losses he’s run up so far will cost us around £0.4million a year in debt finance and another £1million a year to pay off the capital over ten years. That’s lots of librarians, school crossing patrols or public toilets that the cash-strapped Reverend is closing to keep Bristol Energy’s solvent.

Should, as we predict, this debt rise to in excess of £50million then it will cost us over £4million a year to service the debt and pay off the capital over 25 years. The simple fact is that if the Reverend stopped DITHERING about like the wishy-washy voluntary sector plonker he is and took the decision to DITCH this business and also cancel the Arena that will never get built, he could cancel many cuts to our services.

For fucks sake Rees, grow some balls and start taking some decisions for the benefit of the people in this city you useless twat.

COUNCIL ENERGY FIRM ABOUT TO BELLYFLOP?

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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.