Exploring Co-op Community Energy Initiatives
Discover the joint venture between Midcounties Co-op and Octopus Energy, aimed at growing community involvement, increasing renewable energy generation, reducing consumption, and innovating to help those in need. Learn about Power Purchase Agreements (PPAs) and the Community Power Tariff offered by Co-op Energy to support community energy projects.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
Introduction to Co Introduction to Co- -op Community Energy Community Energy Tom Hoines, Managing Director Co-op Community Energy op
Co Co- -op Community Energy op Community Energy A Joint Venture between the Midcounties Co-op (owner of the Co-op Energy Business) and Octopus Energy Formed October 2019 3 FTE With support from both investors, allowing us to be agile Two core business streams with more to come!
Reasons For Being Reasons For Being Growing Membership and Involvement (Participation) Increasing Community Owned Generation Capacity (Powering Up) Reducing Energy Consumption (Powering Down) Innovation Helping those in fuel poverty (Vulnerability)
PPAs and the Community PPAs and the Community Power Tariff Power Tariff Josh Brown, Head of Origination and Product Co-op Community Energy
Power Purchase Agreements (PPAs) Power Purchase Agreements (PPAs) A PPA is essentially a contract between an offtaker and a generator for the energy they export on to the grid. Historically a site that is Feed-in-Tariff (FIT) accredited will get either the FIT deemed rate or the FIT export rate for their exported energy. These sites can still enter in to a PPA, instead of receiving the FIT export payments. Sometimes sites can get more than the FIT export tariff through a PPA. In a subsidy free world, understanding PPAs is even more important for community energy groups.
Power Purchase Agreements (PPAs) Power Purchase Agreements (PPAs) We can offer PPAs to any sites that have a half-hourly meter (we need this in order to see what we re paying for). If you re on the FIT export tariff you can switch over to a PPA once a year. If you do switch you can go back to the export tariff. A PPA will consist of a few different elements: 1. Wholesale power price relate to current wholesale power price. 2. Embedded Benefits (acronym heavy!) BSUoS, GDUoS, AAHDC, Triads, Distribution and Transmission Losses. 3. REGOs certificates issued by Ofgem. Currently we have PPAs with 98 community sites, providing enough energy to power 34.5k homes! So talk to us about PPAs for your sites!
Community Power Tariff Community Power Tariff Co-op Energy has launched a domestic energy tariff, Co-op Community Power, where the energy used by consumers is backed by generation being bought directly from community energy groups (through PPAs). Gas is fully carbon offset. If you sell your energy to us through a PPA it will go towards this tariff. Looking to create community funds through this tariff. Affiliate opportunities available, if you would like to promote the tariff/Co-op Energy to your members.
Thank You Thank You any questions? any questions? Josh Brown josh.brown@cooperativeenergy.coop / 07854 558 088 Tom Hoines tom.hoines@cooperativeenergy.coop / 07922 379 566
