Our latest share offer was launched on 8th February and you can see how much has been raised so far by going to Invest in BWCE
With a minimum investment of £100 and a target interest rate of 4% we would like to reach as many people as possible to build support for our clean energy mission. For anyone who is willing to promote the share offer to their family, friends, neighbours and work colleagues we have produced a short information sheet which you can download here
To all those who have been asking how they can become a member of BWCE or when they can buy more shares, we are delighted to be able to finally open our latest share offer. See here to review and download the share offer document. You can see more information about the share offer on our website here.
Please get involved if you can. Help us do our bit to reduce our collective impact and, through positive action, add your voice to creating the political space for our leaders to implement the ambitious response to climate change and energy security we desperately need.
As well as making a clear statement of support for what we are trying to achieve, becoming a member of BWCE will also provide you with the opportunity to get involved in a not-for-profit community enterprise, democratically run by its members based on one member one vote. An organisation that is committed to carbon reduction and delivering community benefit, whilst still offering a fair rate of interest to its members and investors.
Our Supporters Network engages BWCE members and non-members alike in reaching out to the wider community to mobilise more people around community energy and climate change action. Our two working groups (CoCO and Technology) have been meeting regularly to develop various activities including information briefings, stories of success, visual displays, educational workshops, public events and research into local use of renewable energy technology.
Our next Supporters Network meeting will take place: Thursday 21st March 2019 6.30 to 8.30pm Friends Meeting House, York Street, Bath BA1 1NG
As well as a session on Climate Conversations we will be hearing about the ideas coming out of the working groups and providing you with a chance to support these activities. In addition, we will be discussing how we can all promote the new BWCE share offer to provide a chance for as many people as possible to invest in community energy.
For more information on the Supporters Network contact [email protected] or call 07517 100889.
On Thursday 31st January, despite the arrival of snow, 30 people attended our ‘Taking the Heat out of Climate Conversations’ workshop at the Museum of Bath at Work. Guided by facilitators Susan Johnson (Zero West) and Paul Hoggett (Climate Psychology Alliance) we explored how to have more positive climate conversations with friends, family, neighbours and work colleagues.
It was a practical workshop, mixing small group conversations with input on psychological theory to help us explore the resistances and ethical dilemmas we encounter when trying to talk about climate change.
An online platform has been set up to enable participants to continue to share experiences and the topic will be re-visited at our next Supporters Network meeting on 21st March 2019.
BWCE’s asset management services have transferred to Bright Renewables, a new business wholly owned by its community clients. Bright Renewables acquired Mongoose Energy’s asset management business with financial support from Community Owned Renewable Energy LLP which is funded by social investors Power to Change and Big Society Capital. Mongoose Energy will be wound up in due course, once it completes the sale of its assets and settles any remaining obligations.
The first clients and owners of Bright Renewables are all former Mongoose Energy members, including BWCE, but new community clients will be joining shortly. Mongoose Energy’s asset management staff also transferred over to the new business.
We are delighted to be part of this new community owned enterprise. Becoming 100% community owned was always part of the Mongoose Energy plan. We are pleased to see that vision coming to fruition.
As many of you will have seen in the press, Our Power, our local energy supply partner, has ceased trading. We heard about this when it was first made public. See here for Our Power’s announcement on their website. We were deeply disappointed and saddened that our partnership with Our Power, to supply electricity from our projects to local people, has come to an end in this way.
Ofgem have just issued a press release announcing that Our Power customers have been transferred to Utilita, see here, though people can switch away to someone else if they wish. Ofgem also provides answers to common questions and advice about what to do, including switching, here. Contact details for further information can be found in the links provided and/or the email from Utilita for those that have been directly affected.
We still believe in the approach to supplying local energy that we developed with Our Power and B&NES Council, and over the coming months we will explore how best we can continue to deliver local power to local people.
We will soon be opening a new share offer to enable us to continue raising capital to deliver new community renewables projects, including new community solar PV roofs and our innovative Solar Streets pilot, that includes installation of domestic solar PV and battery systems.
As some of you know from recent discussions, we are not in a position to raise new finance with the same target interest rate as previously, especially in light of the ending of the Feed in Tariff in April 2019 for new projects. So we intend to launch the new share offer with a target interest rate of 4%, potentially rising to 5% as new markets develop over the next few years, and with a minimum purchase of £100.
We will of course continue to honour all past commitments to our existing shareholders with regard to target interest rates. We are bound to meet the terms of all previous share offer documents and neither we, nor any future board can vary these terms in the future.
But we do hope you will be able to support the offer when it opens. We hope you will be able to help us continue to grow and increase our impact. We will be heavily marketing the offer in our area to increase local membership, so please spread the word!
Latest reports about climate change tell us that we need an urgent and rapidly escalating response to carbon reduction. We need to make our voices heard, let our leaders know through positive action that there is real demand for an ambitious response that is proportionate to the threats we face. What better way to do that than by ensuring your positive action supports a local community business committed to delivering community benefit rather than commercial profit.
We have now had two meetings of our Supporters Network and at the last meeting we agreed to set up two working groups
The Communication, Creative and Outreach (CoCO) group will hold its first meeting on Monday 3rd December (followed by a second on 10th January) to explore how to promote climate conversations and raise the profile of BWCE and sustainable energy activities.
The Technology group will hold its first meeting on Thursday 6th December to explore how to increase understanding of the technical challenges and solutions to climate change and how we can develop a community owned clean local energy future.
If you are interested in joining either of these groups or want to know more about the Supporters Network please contact [email protected] or call 07517 100889