Hi there,
I’m very sorry to say that – although we have fought supremely hard – we have been forced to postpone our share offer launch tomorrow, after this week’s Government announcement of cuts to the feed-in-tariff.
We have made this decision reluctantly, but our primary concern is for our potential investors and we felt it was prudent to wait until the Government was clear what support it will give to community schemes.
Our share launch was due to take place on 2 November at Friends’ Meeting House, Brighton at 7pm-9.30pm.
The Government’s recent feed-in-tariff cuts slashed the subsidy by more than half, from 33.2p/kWh to 15p/kWh. This would have almost halved Brighton Energy Co-operative’s income, money that would have been used to pay investors a return and fund low carbon community projects within the city.
Many thanks to those of you who have supported the scheme over the last eighteen months. It has been a real revelation to me to see so many talented people rally around a community initiative like this. Thanks too to all of you who have pledged your investment and given us your support.
Finally my thanks to the other BEC directors, Damian Tow and Danni Craker, who have worked so hard to make this project a success. In the end events outside our control have proved more powerful.
I appreciate this is short notice to cancel our meeting tomorrow, so please pass this message on to anyone you know might have been coming.
Best
Will
BEC
This is a tragedy and the proposed changes should be strongly opposed. Don’t give up now but get everyone to write to their MP and to the local press and more. At least make sure you go out with a bang!