AGM
2024
Our 2024 AGM took place on Wednesday 18th September.
The AGM received reports from:
Peter Capener and John Rawlins on BWCE’s project performance and progress during the year. See the slides from the presentation.
Renewables projects were below target for the year due primarily to below average levels of sunshine. With the exception of June, these lower than average levels of sunshine have continued into this financial year to date, as of September 2024.During 2023-24, BWCE developed out 920 kW of rooftop solar, almost doubling the capacity of new systems installed since 2021 and taking BWCE’s total installed capacity to 14.3 MW.
Sara Grimes on the exciting launch of BWCE’s new Home Energy Service that is now taking bookings for a range of home energy assessments and services. See the slides from the presentation.
Jane Wildblood on the operation of the BWCE community fund during the year and two of the community fund’s excellent grant recipients, Marksbury School PTA and the Genesis Trust. See the slides from the presentation.
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Peter Capener presented the audited accounts for 2023-24. BWCE is in a strong financial position with increasing ‘free’ reserves. Even though projects performed below target, due primarily to lower than average levels of sunshine across 2022-23, projects earnt higher than expected income per unit of electricity generated. As a result the board proposed that BWCE should pay target rates of interest to members and the same level of payment to the community fund as last year.
If 2024-25 continues to offer lower than average levels of sunshine, it may not be possible to offer target rates of interest and community fund payment at the AGM in September 2025.
The AGM supported the following resolutions with 121 members voting, including online votes;
Adoption of audited accounts for 2023-24 by AGM (120 approve, 0 against, 1 abstained)
Proposal for member interest of 7% (the lower of 7%, or RPI in December of year plus 3.5%) on shares issued prior to February 2019 (118 approve, 0 against, 3 abstained)
Proposal for member interest of 5% on shares issued since February 2019 (121 approve, 0 against, 0 abstained)
Proposal for payment of £50,000 to the community fund (115 approve, 3 against, 3 abstained)
Reappointment of auditors Alanbrookes Ltd as BWCE’s auditors (119 approve, 0 against, 2 abstained).
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This year, Fliss Jones and Matt Harnack were required to stand down after three years. Matt stood again but Fliss stepped down. From a high quality selection of candidates, all of whom could have done an excellent job as board members, Matt Harnack and Samantha Nicol were elected to serve for the following three year period.