Nottingham City Council has written off £24 million of debt from its energy supplier Robin Hood Energy. At an audit committee held on Friday (31 July), the council updated its 2018/19 annual report which had been delayed as the energy company had not finalised its accounts for the previous year. Documents from the committee meeting show that since 31 March 2019, the council had provided loans, parent guarantees and equity that totalled £40.4 million to the struggling supplier. This investment is now estimated to be worth just £16 million, having been impaired by £24.4 million.
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