Energy4All welcomes shared ownership measures in the Energy Independence Bill
Energy4All strongly welcomes the Energy Independence Bill published last week, in particular the mandatory offer to communities of shared ownership of new renewable energy projects. This should be transformative for community ownership in Britain.
Energy4All pioneered shared ownership in Britain and has delivered over 20 shared ownership projects on wind farms and hydro schemes. We know from experience that shared ownership can unlock investment, strengthen community support for renewable energy and ensure that more of the value created by the energy transition stays within communities.
Shared ownership can also provide its benefits without materially impacting on the electricity price, unlike the community benefit charge which does increase the cost of electricity.
The bill should be about genuine control and democratic community empowerment, not just passive investment
Whether the aim of the Bill succeeds will depend on the detailed regulations, and whether they overcome the pitfalls of previous failed attempts to offer shared ownership in Britain.
For instance, it would be a major mistake to exclude the current pipeline of renewable energy developments (which is broadly sufficient to achieve the 2030 target of decarbonising electricity supply) from the mandatory offer. Shared ownership must offer the possibility of genuine control and democratic community empowerment not just passive investment. The price of the offer must be fair. And tighter definitions and procedures are needed to prevent gaming of the rules by developers, whilst facilitating flexibility and variation of projects to suit community needs and enable mass public participation.
Energy4All will be actively participating in the consultation process to seek to ensure the benefits of shared ownership are delivered this time.