Issue details

Street Lighting PFI Contract Refinancing

 

 

Cabinet approved the decision to progress refinancing of the street lighting PFI contract resulting in an upfront financial gain and an ongoing reduction in the Council’s Annual Unitary Charge for the contract.  As final work on modelling was being completed the decision was delegated to the Executive Directors for Environment, Transport and Infrastructure and; Resources in conjunction with the Cabinet Members for Transport and Resources.

 

The final value of the gain was within the agreed 10% threshold of the amounts stated in the Part 2 report and so the refinancing will be completed.

 

Decision type: Key

Decision status: Recommendations Approved

Notice of proposed decision first published: 27/07/2020

Anticipated restriction: Part exempt  -

Decision due: 27 Oct 2020 by Cabinet

Decision due: 24 Nov 2020 by Deputy Chief Executive and Executive Director for Resources, Executive Director Environment, Infrastructure and Growth

Lead member: Cabinet Member for Highways

Lead director: Deputy Chief Executive and Executive Director for Resources, Executive Director Environment, Infrastructure and Growth

Contact: Paul Wheadon Email: paul.wheadon@surreycc.gov.uk Tel: 020 8541 9346.

Consultees

Surrey Lighting Services


Department for Transport

Decisions