Purpose

To call off a fixed supply of electricity and related services contract from 1st September 2026 to 30th September 2026 for all MCC corporate estate.

Decision

The Strategic Director (Corporat Services) and City Treasurer agrees to call off a fixed term contract from 1 September 2026 to 30 September 2026  for the supply of electricity and related services to MCC’s corporate estate (including street lighting).

The current electricity contract is due to expire on 31 August 2026, if a new contract is not signed prior to this date MCC’s corporate estate will fall onto out of contract rates which will increase costs significantly.

Furthermore, the current electricity wholesale market remains stable, but, given the geopolitical issues affecting the market, any small changes could increase the electricity wholesale market and it would be in the best interest of the council to be able to obtain a fixed priced contract while the market remains stable.

As such this deiciosn has been been exempted from Call in by the Chair of Resources and Governance Scrutyinuy Committee