Thameswey Central Milton Keynes sale completed
The sale of Thameswey Central Milton Keynes (TCMK) to Utilities Services (MediaCity UK) Ltd, a subsidiary of Leep Utilities Ltd, has been completed.
TCMK, which is owned by Thameswey Energy Ltd (TEL), itself a wholly owned Woking Borough Council company, provides district heating, cooling and a private wire electricity network to domestic and business customers in Milton Keynes.
Under the new ownership, services will continue to be provided to existing customers without interruption. All staff currently employed by TCMK will be offered roles with the new operator, supporting continuity of service provision.
Cllr Dale Roberts, Deputy Leader of Woking Borough Council and Portfolio Holder for Finance, said:
This sale of Thameswey Central Milton Keynes is an important step in our company divestment strategy and the rationalisation of complex company structures.
It is important that services for customers continue without disruption and that arrangements are in place to support the ongoing operation of the network.
The disposal has achieved the best outcome for the public purse and reflects continued progress in delivering the council’s Improvement and Recovery Plan by simplifying commercial arrangements, reducing borrowing and lowering our exposure to financial risk.
Thameswey Energy Limited will continue to operate the district heating network in Woking town centre.