Laura Sharman 15 February 2016

Blackpool refinances lighting PFI contract

Blackpool Council has renegotiated its street lighting and traffic signals contract in a move that will save £157,000 a year.

In partnership with its service provider, Community Lighting Partnership (CLP), the council has refinanced its Private Finance Initiative (PFI) contract through SMBC and Nord LB Banks to achieve savings of £3m over the remaining 19 years of the deal.

Cllr Simon Blackburn, leader of Blackpool Council, said: ‘I’m sure many residents spend time researching different options when mortgaging their property and this is the same exercise just on a larger scale.

‘During the tough financial times we are facing it is vitally important that we scrutinise every contract we have to ensure that we are getting the best possible deal.’

Since being signed in 2009, the contract has seen 85% of the council’s lighting and traffic signal assets have been replaced, including 16,253 street lights and 2,420 traffic signals.

SIGN UP
For your free daily news bulletin
Highways jobs

Purchase to Pay Administrator (Fixed Term) - WMF2122e

Westmorland and Furness Council
£25,584 - £25,992
We are looking for an Administrator to join our Purchase to Pay and Accounts Receivables team Cumbria / Various
Recuriter: Westmorland and Furness Council

Social Worker - WMF2123e

Westmorland and Furness Council
£41,511 - £42,708
We’re looking for passionate social workers to join our team in Kendal following a recent reshape of our services. Kendal, Cumbria
Recuriter: Westmorland and Furness Council

Environmental Health Officer

Wyre Borough Council
£38,626 - £41,511
We are looking to appoint a full time Environmental Health Officer within the Environmental Protection and Community Safety Department. Poulton-Le-Fylde, Lancashire
Recuriter: Wyre Borough Council

Trainee Graduate Accountant

Wyre Borough Council
£25,992 - £37,938
Are you looking to kickstart your career in Finance? Poulton-Le-Fylde, Lancashire
Recuriter: Wyre Borough Council

Environmental Services Support Officer

Wyre Borough Council
£25,183 - £25,584
We are seeking a dedicated and detail-oriented Environmental Services Support Officer to join our Environment Directorate. Poulton-Le-Fylde, Lancashire
Recuriter: Wyre Borough Council
Linkedin Banner