How is the Project funded?
North London Waste Authority is responsible for the cost-effective disposal of waste collected by the seven borough councils in north London (Barnet, Camden, Enfield, Hackney, Haringey, Islington and Waltham Forest).
The disposal of this waste is paid for through council tax in north London and the cost of North London Heat and Power Project will be paid for by council tax. NLWA is committed to funding this project with the most cost-effective solution. Routes such as borrowing from the Public Works Loan Board and bonds are currently being explored to secure the best value for money.
Following the existing arrangement with the seven north London boroughs, NLWA will continue to be financed though a levy for managing the disposal of their waste. The cost of the project is accounted for in this levy and boroughs have taken account of this in their future financing plans.
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