Submission
Which option do you prefer?
Option Two – The alternative option – Keep Aurora Energy
Further comment
Ideally, the Council ought to represent the corporate aspect of the citizens, and simply manage their interests.
The sale of Aurora would introduce, however, a significant separation of interests between Council and citizens.
The Council, free of what it considers to be a problem entity, would become the manager of a fund created from the sale - an apparent benefactor, dispensing sums for Council-related and possibly other work.
The citizens on the other hand would be bound to the new owners of Aurora and the owners’ need to recoup their investment and make a profit from the company.
One thing is certain: there will be a relatively short period after which the benefit to the Council from the sale of Aurora will be less than the profit generated over that time by the new company; otherwise who would buy it?
Whether Aurora is retained by the Council or sold, the ratepayers will pay for it. Having paid, it would be foolish not to retain the asset.
Supporting information
No associated documents with this submission.
Submitter
Submission id number: 1044643
Submitter name:
Peter Fenton
Organisation