What mitigating impact do you expect from the power purchase agreement tender that was issued in June 2022 against the increase in the cost of energy to the GLA group of organisations?

Power Purchase Agreements (PPAs) allow organisations access to fixed or agreed pricing structures for set periods of time. This certainty in pricing has significant advantages, particularly considering the recent turbulence of the energy market. Transport for London’s (TfL) first procurement aims to secure approximately 10 per cent of its electricity consumption for a period of 15 years. It is not possible to quantify the potential cost benefits until later in the procurement process, but TfL expects that the pricing will be competitive and certainly no worse than the wholesale market.