ISLINGTON Council is in for a windfall of more than half-a-million pounds after the North London Waste Authority made nearly £5million in profits this year – and decided to hand it back to the seven boroughs they work for.

The profit, which comes after energy prices skyrocketed in recent months, was made by the private arm of the NLWA called London Energy Ltd, which turns waste into energy through incineration.

A spokeswoman for NLWA said: “This year, due to price rises in global energy supply markets, the facility will see its income rise considerably. NLWA, the public body responsible for the facility, is proposing that these unexpected earnings be returned as a ‘windfall dividend’ to communities via their borough councils to help fund crucial services during the UK’s cost of living crisis.”

Islington – which pays NLWA nearly £7m a year to burn the borough’s rubbish – is yet to decide what it will spend the money on.

A press officer said the Town Hall is due to make an announcement “in due course”.

Construction work to replace the current incinerator in Edmonton – Europe’s oldest – began last month.
Protesters objecting to its rebuild are expected to speak at an NLWA meeting in Camden on Monday.