A council-owned energy company is set to finally close for good after losing up to £3.5m. Victory Energy Supply Ltd was set up under the Conservative administration of Portsmouth City Council but scrapped when the Liberal Democrats won control in 2018. The council said no buyers could be found for the business. Opposition Conservative group leader Donna Jones insisted private companies had been interested in the firm. Victory Energy was established in 2017 with the aim of providing residents with low-cost renewable electricity and to generate revenue for the council.
BBC 16th Oct 2020 read more »