Image: Octopus Renewables.
A joint venture aimed at breaking down barriers preventing community energy projects from coming on-stream has been relaunched by Octopus Energy and the Midcounties Co-operative.
Younity - which was previously known as Co-op Community Energy - already has partnerships with 100 community generators, with the renewable energy from these partnerships powering the ‘Your Co-op Energy’s Community Power’ tariff, which was launched in January 2020 as the only tariff in the UK to come solely from community power projects.
The joint venture will investigate innovative ways to make funding more accessible for community energy projects, while also continuing to provide direct financial support through the Community Power Fund. This fund is financed through the tariff, and has already made grants to support the ambitions of six community energy groups in the UK.
Octopus Energy adds £3 4bn worth of renewable projects to its portfolio
energylivenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energylivenews.com Daily Mail and Mail on Sunday newspapers.
Octopus Energy acquires £3 4bn of assets in bid to become European renewable giant
pv-tech.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pv-tech.org Daily Mail and Mail on Sunday newspapers.
Image: Octopus Energy
Octopus Energy has launched what is claimed to be the world’s first electricity tariff whose price drops when the wind speeds up.
The new tariff follows the purchase of wind turbines in Caerphilly, South Wales and Market Weighton, Yorkshire. It promises to offer households, which are living near the turbines and using electricity when the turbines are spinning, a 20% discount on the unit price.
Each of these turbines is predicted to generate up to 500kW, enough to power up to 400 homes every year.
The company said when the wind picks up and the turbines are producing more green electricity, the unit price could see a 50% price cut.