To: Matthew Hancock MP - Minister of State for Business & Energy

Stop blocking New Renewable Energy Co-ops

Stop blocking New Renewable Energy Co-ops

Allow the creation of Renewable Energy Co-op's with the Financial Conduct Authority.

Why is this important?

Since the Spring 2014 a significant number of new Co-operative Societies (previously often known as members co-ops) have been refused registration. This is because the FCA has unilaterally decided that renewable energy co-ops in England, Wales and Scotland are not legitimate co-operatives as they do not directly trade with their members.

In fact there is no requirement in the 7 principles of the International Co-operative Alliance (http://www.cda.coop/coopprinciples.htm) on co-operatives to trade with their members and in the UK the very tight and highly complex regulatory requirements of the energy supply industry effectively prevents co-ops selling electricity directly to its members.

Renewable energy co-ops do fall within the definition of a Co-operative and the FCA have no justification in making this decision. The FCA should register any co-operative that complies with the international principles of co-operation and not impose additional constraints, such as requiring Co-operative Societies to trade directly with their members.

Category


Reasons for signing

  • The removal of incentives for local energy Co-ops and Community Benefit Societies such as Social Investment Tax Relief has put a strangle hold on local people investing in a local supply for low carbon energy. Its time government gave at least some incentives back for local green energy generation!
  • We need to fully invest in renewable energy - not just in the UK, but globally.
  • This is ridiculous - 80% of Denmark's renewable energy industry is co-operatively owned and managed. Instead of seeing energy co-ops as consumer co-ops, why not see them as producer co-op (with members producing energy for the co-ops). Will that get round the regulatory hurdle?

Updates

2014-12-11 15:15:14 +0000

10,000 signatures reached

2014-11-27 21:16:57 +0000

5,000 signatures reached

2014-11-20 15:07:27 +0000

1,000 signatures reached

2014-11-20 11:52:12 +0000

500 signatures reached

2014-11-19 17:26:52 +0000

100 signatures reached

2014-11-19 15:32:26 +0000

50 signatures reached

2014-11-19 14:07:06 +0000

25 signatures reached

2014-11-19 13:35:17 +0000

10 signatures reached