The head of Nottingham City Council has resigned his position as the director of the council-owned energy company Robin Hood Energy.
Councillor Jon Collins, who represents the St Ann’s Ward for Labour, has said he is busy with other commitments.
A joint statement from Robin Hood Energy and Nottingham City Council said: “Jon Collins has resigned as a director at Robin Hood Energy because he is busy with his regeneration portfolio at the council and his work to secure the development of the south side of the city.”
In July this year, it reported a small profit, which was then re-invested in the company
His appointment as a director was terminated on Monday, December 3, and was filed with Companies House on Thursday, December 6.
The company, which is wholly owned by the Labour-run city council, was set up as a not-for-profit energy company in September 2015 with an initial loan from the council of £11.6 million. It was the first local authority-owned energy company in the country.
In July this year, it reported a small profit, which was then re-invested in the company.
The previous financial year, it posted a loss of £7.6 million.
It works in partnership with energy companies since set up by other local authorities, such as Leccy, in Liverpool, Angel Energy, in Islington, of which Labour leader Jeremy Corbyn is a customer.