28 April 2016

Community Energy specialist announces plan to supply energy directly to customers later this year

In what is being hailed as a first for the UK’s fledgling community energy sector, Mongoose Energy has revealed plans to launch an energy supply business that will sell energy direct from community-owned renewables projects.

The company, which specialises in working with community groups and clean energy developers across the UK to deliver community-owned renewables projects, said its new supply business would start delivering energy to customers before the end of this year.

The move is expected to make the newly launched Mongoose Energy Supply the first supply company in the UK to be majority-owned by community groups.

“This is a first for a UK energy company and, with the majority of our profits going back into the community groups, I believe this has the potential to transform the nature of energy ownership in the UK,” said Mongoose chief executive JW Bode, in a statement.

Mongoose Energy, which counts former energy and climate change secretary Sir Ed Davey as one of its board members, said the new supply business would source its electricity from renewable sources and would boast “a competitively priced range of tariffs for its customers”. It added that details of the launch tariffs would be announced in the third quarter of this year.

The launch builds on Mongoose Energy’s recent success mobilising investment in community energy projects across the UK. Launched in April last year, the company claims to have 34MW of capacity under management with a further 30MW of capacity in the pipeline.

Peter Capener, chair of Bath and West Community Energy, which founded Mongoose in 2015, said the new supply business would help support the expansion of a community energy sector that can bring multiple benefits to customers and stakeholders.

“The rise of community energy means that energy generation can be used to bring about positive social change and Mongoose groups are all signed up to this philosophy,” he said. “We see this as the future for the UK, with profits being retained within the community to re-invest in socially and environmentally beneficial projects that meet community needs.”

Writing on BusinessGreen today, Bode argued the new supply business had the potential to “transform the nature of energy ownership in this country” following a “rollercoaster” year for the sector characterised by record investment rounds and surprise changes to government policies that threatened to undermine returns from future community energy projects.

Read the original article here.