Local power to the people: future of energy tariff launched to support decentralised power and local community initiatives across the UK
Co-op Energy, leaders in community energy, have today launched the groundbreaking Community Power Tariff. This is cheaper, green energy sourced through a Joint Venture with Octopus Energy, directly from 75 local renewable energy generation projects across the UK and paving the way for a decentralised energy future.
With Community Power, all electricity is sourced directly from projects like Westmill Wind & Solar Farm (with all gas usage also being offset), for only around £5 a month extra compared to a regular Co-op Energy tariff, and all profits are reinvested back to continue to maintain community energy projects.
Full pricing and conditions:
- £88 per month for a typical home (based on Ofgem medium household usage)
- All of your electricity is 100% directly sourced from community power projects
- All of your gas is carbon offset
- Any profits are reinvested in the JV to launch and maintain community energy projects around the country
In 2018, business services firm Lloyd’s Register said it expects decentralised renewable energy to be cheaper than power from large scale, fossil fuel heavy grid producers by 2025. This grid of the future enables communities to generate their own renewable power and sell the excess, creating a true peer to peer market. Saving the National Grid’s energy production when renewable power is in abundance, and bringing the net zero carbon emissions target ever closer.
The Community Power tariff offered by Co-op Energy has been delivered by Co-op Community Energy, a joint venture between Co-op Midcounties and Octopus Energy.
It is tasked with continuing to add to the number of Community Power agreements it has up and down the country to keep providing customers with local, community-sourced, green energy.
Greg Jackson, CEO of Octopus Energy, comments:
“Being able to buy locally sourced clean, green energy is a massive jump in the right direction for this country’s ailing power grid and carbon emissions. Investing in more local energy infrastructure and getting Britain’s homes run by the sun when it’s shining and the wind when it’s blowing can end our reliance on dirty fossil fuels sooner than we hoped.
“Local people investing in local people means that we can all muck in and put the work in to decarbonise where governments and large companies are slow to. I’m so excited to see our grid’s green energy mix grow thanks to this product.
Phil Ponsonby, Chief Executive of Midcounties Co-operative, comments:
“We’ve long been the leading supporter of community power in the UK, and with the launch of Co-op Community Energy, and the Community Power Tariff, we want to go even further.
“Our Community Power tariff is the UKs only tariff powered by 100% community generated electricity and we ensure a fair price is paid to community generators
“Thanks to the co-operative values of the Midcounties Co-operatives and the technological capability of Octopus Energy, the Community Power tariff provides customers award winning service and access to community generation.”
Notes to editors:
Case studies available of community renewable generators:
|Westmill Wind Co-op||The community in Westmill doubled up local farmland with renewable generation – installing solar panels and seven wind turbines on the land. Westmill Wind and Solar powers over 4,300 homes, with 100% of their renewable energy purchased by Co-op Community Energy. A large proportion of the profits goes straight to the Westmill Sustainable Energy Trust, who promote energy efficiency and provide grants to others with dreams of advancing renewable energy.||2628|
|Westmill Solar Co-op||1725|
|Southill Solar Co-op||Southill Solar is a community solar farm, powering 1450 homes. Southill Solar uses the profit it makes from selling its energy to Co-op Community Energy (via our Power Purchase Agreement) to support other green community initiatives, from providing energy efficient lighting in local community centres, to conservation in the Cotswolds, and installing Britain’s first high-tech thermo-solar beehives.||1450|
About Octopus Energy Group
Octopus Energy Group was launched in 2016 with a vision of using technology to make the green energy revolution affordable whilst transforming customer experiences.
Octopus Energy Group’s domestic energy arm already serves almost 1.3 million customers via Octopus Energy, Affect Energy, M&S Energy and Co-op Energy. While Octopus Energy for Business manages almost 10,000 customers with proprietary energy offerings. Octopus Electric Vehicles is helping make clean transport cheaper and easier, and Octopus Energy Services is bringing smart products to thousands of homes. With operations in Germany and Australia, Octopus Energy Group's mission to drive the affordable green revolution is going global.
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