Publicly owned district heat networks in Bristol, set to be sold to Sweden, are “almost certainly undervalued”, a councillor has claimed.
The city’s heat networks will likely be sold this autumn to Vattenfall, a Swedish state-owned energy company. The networks currently belong to Bristol City Council, which built the networks with government grants, and estimates the value to be £20 million.
On Tuesday, July 12, the cabinet voted to move the ownership of the networks into holding company Bristol Heat Networks Limited, ahead of the sale. But a senior Conservative councillor has raised concerns that council chiefs aren’t getting value for money.
