URL: https://moderngov.sutton.gov.uk/ieDecisionDetails.aspx?ID=4167

Decision Maker: Sutton Shareholdings Board

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Purpose: To consider the performance update for the current year and to review the previous years' accounts.

Content: To consider the performance update for the current year and to review the previous years' accounts. The Managing Director of SDEN introduced the report.   It was proposed and agreed that the meeting move into an exempt session.   RESOLVED: That the public and press be excluded from the meeting on the grounds that the item involves the likely disclosure of exempt information as defined in paragraph 3, Schedule 12 A of the Local Government Act 1972.   Members requested quarterly reports on the progress of the heat network connection to the Clarion Housing Lavenders estate, to be provided outside of the sub-committee meetings.   Following an exempt discussion the meeting returned to open session.   RESOLVED:   That the performance update provided in SDEN Performance Report April - September 2024, as set out at Appendix A to the report, be noted.   That the draft Sutton Decentralised Energy Network Ltd Full Annual Accounts for 2023/24, as set out at Appendix B to the report, be noted   That the Sutton Decentralised Energy Network Risk Register, as set out as exempt Appendix C to the report, be noted. That the full Business Case for a heat network connection to the Clarion Housing, Lavenders estate, as set out at exempt Appendix D to the report, be approved.   That it be recommended to the Strategy and Resources Committee that the Council agree a loan of £1.015m to the Sutton Decentralised Energy Network as a contribution to the capital costs of the Lavenders Estate connection scheme which is to be repaid over 25 years. With the final rate of interest to be applied to the loan to be delegated to the Strategic Director of Resources and set in line with the principle set out in paragraph 6.9 of the report.  

Date of Decision: November 5, 2024