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.”
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]In July this year, it reported a small profit, which was then re-invested in the company[/perfectpullquote]
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.