The Greater London Authority has become the first local authority to apply for a licence to become an energy supplier.
Initially it will allow them to buy excess electricity produced by London's boroughs and public bodies before selling it on- at cost price- to other public sector organisations.
It is hoped that this will encourage London boroughs to increase their energy-producing capacity.
The Mayor is working with Ofgem and the Department of Energy and Climate Change to bring this new route to market by early 2014.
London's fire authority will hold an emergency meeting today in the latest stage of a row over possible 12 fire station closures and 520 job losses in the capital.
Boris Johnson has also proposed cutting 18 fire appliances in the cost cutting move, which has seen stiff opposition from some members of the London Fire and Emergency Planning Authority.
The authority last month rejected proposals which aim to make £45 million of savings.
Members narrowly decided to hold a public consultation on future plans, without involving closures.
But London's Mayor Boris Johnson stepped into the dispute by taking the unprecedented step of directing the authority to move towards a consultation on cost-cutting measures.
He said the authority had increased the likelihood of compulsory redundancies by not tackling a budget gap.
London fire commissioner Ron Dobson has proposed cutting around 10% of frontline firefighter posts, adding that he hoped to avoid compulsory redundancies.
The number of fire stations would be reduced to 100 under the proposals.
He said the number of fire incidents in London was down by a third in the past decade, with fire appliances only used seven per cent of the time.
A total of 24 fire stations dealt with two or fewer incidents a day, while the average firefighter was called out to 195 incidents a year, with only 48 of those involving fires, he said.
The Fire Brigades Union (FBU) called on members of the authority to "hold their nerve" and continue to oppose cuts.
Regional secretary Paul Embery said: "They were right to reject the cuts at their previous meeting and we think they should do so again.
We do not believe they are under any legal obligation to comply with the Mayor's authoritarian demand."
FBU general secretary Matt Wrack said thousands of firefighters' jobs were under threat across the country with the possible closure of up to 70 fire stations because of spending cuts.
"These are horrific attacks on the London fire brigade and are part of a wider onslaught against the fire service as a result of the Government's austerity measures. We will fight these cuts every step of the way."
If the authority votes against the proposals Mr Johnson could challenge the decision in court.
The GLA will hold its Annual Service of Remembrance for London's war dead in the Chamber at City Hall today.
Mayor of London Boris Johnson and Deputy Chair of the London Assembly, Darren Johnson AM, will be joined by Brigadier Richard Smith CBE, Deputy.
Around the country high streets have boarded up shops, hit by the recession, online shopping and out-of-town centres.
But in some parts of London the high street is thriving and not necessarily in the areas you might expect. So why are some streets doing so well despite the tough times, whilst others are still failing to attract spenders? Our Business Correspondent Glen Goodman investigates.
According to the Local Data Company, 26% of shops on North Cheam high street are unoccupied.
But it isn't all bad. Raynes Park is the capital's best performing area with less than two per cent of shops not in use - an improvement of 10% in a year.
The GLA Economy Committee has launched an inquiry into the state of London's High Streets.
The aim is to produce recommendations and policy for the Mayor and the boroughs to aid the economy of the capital's high streets
Over two days the committee will visit six of the capital's high streets and speak to shop keepers, local traders and businesses and shoppers too, about what can be done to halt the decline and to tackle the increasing number of empty shops.
Evidence gathered on the visits will inform two formal public evidence hearings at City Hall.
The London Assembly Economy Committee's visits to London's High Streets is part of its probe into town centres hit by the recession. The aim is to find out what can be done to help.