Council plans energy co-op to tackle fuel poverty
A local authority is looking into creating an energy co-operative which would provide cheap power for council tenants.
Through its procurement process, Tower Hamlets Council is calling on potential partners to come forward with proposals for creating a large scale domestic power purchasing co-op to help tenants across the borough.
The council said the co-op would be used to give tenants access to cheaper power and to cut down on fuel poverty in the area.
Lutfur Rahman, Mayor of Tower Hamlets, said: ‘I am a great supporter of the co-operative movement and believe that we can use it to bring about mutual benefit to the community.
‘I want to see if we can set up a co-operative in Tower Hamlets that coordinates the collective buying power for all our residents, giving them access to cheaper electricity and gas.
‘At a time when family budgets are being squeezed by rapid increases to living costs, this would help residents to keep their hard earned money in their pockets.’