OtleyLad
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Support Renewable Energy Co-op'sHere's something to support (in my humble opinion):
Stop the Financial Conduct Authority blocking the creation of Renewable Energy Co-op's. Petition.
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oldish chris
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Dunnit. (member of and buy from Coop Phone, Coop Energy, Coop Bank, Coop Food and occasionally dine at 8th Day Coop in Manchester)
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Mistress Rose
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Having read what it is about, it does seem worth while.
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Hairyloon
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Do we have a link to a report of the actual decision by the FCA?
Ideally, we want to see the actual decision and the reasons for it...
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Hairyloon
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Quote: | A spokeswoman for the regulator said FCA’s rules required member participation in co-operatives further than just investing in them. However, energy co-operatives are too small to apply for licenses to be able to sell electricity from renewable sources directly to members and usually sell to the national grid and divide the profits between members. |
http://www.thenews.coop/88879/news/energy/regulator-blocks-registration-of-new-energy-co-operatives/
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Hairyloon
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It seems to me that the better answer is to either change the regulations or find a way through them to allow the coops to sell to their members.
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Hairyloon
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Quote: | Dave Hollings of Co-operative and Mutual Solutions says bencoms need not panic.“The FCA is concerned about energy generating co-operative societies where the only relationship between the members and the co-operative is an investment relationship,” he said.
“They continue to accept that a renewable energy community benefit society exists for the purpose of benefitting a defined community, which is perfectly compatible with the law as it stands.”
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http://www.thenews.coop/89928/news/community/energy-bencoms-not-affected-by-fca-ruling/
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Hairyloon
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AFAIK, the fundamental difference between a cooperative and a company owned by shareholders is that a cooperative trades with its members.
Why do they need to be cooperatives anyway? What is the big advantage?
I am with the FCA at this point. I have said for a long time that we should have a better way of doing this and this decision seems likely to push people into finding a better way.
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oldish chris
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There are also "Workers Cooperatives", e.g. 8th Day. This is they: http://8thday.coop/about-us/our-ethos/
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Hairyloon
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There are also "Workers Cooperatives", e.g. 8th Day. This is they: http://8thday.coop/about-us/our-ethos/ |