Tuesday, 26 November 2013

SidEnergy launch: more event reports

From the latest Sidmouth Herald:

Home - Sidmouth Herald

And from SidEnergy today:


Newsletter number 1    November 2013

Thank you to all of you who have registered an interest in SidEnergy and especially those of you who attended our launch meeting on 14th November 2013 at the Norman Lockyer Observatory.

So far nearly 100 Sid Valley residents and businesses are on our database and we are now campaigning to try to reach our first target of 1,000.  This is the figure that we believe will give us sufficient power to negotiate lower energy bills and establish beneficial partnerships with local suppliers of energy conservation measures and renewable energy systems.

Where are we now?

We are in the process of registering SidEnergy as a Community Finance Co-operative with the Financial Conduct Authority (FCA).  This will allow us to offer shares from a nominal value of £1 up to £20,000.  These investments are protected by the FCA up to the top value so there is no risk to anyone in the community who wants to invest.  Under the rules we cannot pay dividends but we will use any surpluses from our activities to fund community projects.  In addition, we hope that as we develop local renewable energy projects that our community members and shareholders will be able to invest in those projects and get a financial return from them.

We are busy putting in place the infrastructure that allows us to start delivering community energy projects.   The website is up and running at www.sidenergy.co.uk and content is being added so this will be the best place for you to check on progress.  We have received an initial grant of £2,500 to run Open Homes events (more on this below).   We are also applying for a £20,000 grant to enable us to look at the feasibility of renewable energy sources in the Sid Valley.

Energy Bills

The Department of Energy and Climate Change (DECC) have produced a report “Helping Customers Switch – Collective Switching and Beyond” which shows how groups like SidEnergy have negotiated discounts with the energy suppliers to give average reductions of £131 per annum on dual fuel bills.  This report can be viewed on our website and shows that group purchasing can get an effective 10% discount which sets a benchmark for SidEnergy to negotiate with suppliers.  We are developing plans to approach the suppliers but we do need to show that have enough potential customers who are prepared to switch.  So please encourage your relatives, friends and neighbours to sign up with us.

Open Homes

Over the weekend of 15/16 October 2014 around 12 homes owned by SidEnergy members will be open so that you can see how energy conservation measures and renewable energy technology has been employed to minimise energy costs.

Power in the Community

SidEnergy | Home | Sid Valley's community energy cooperative

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