Tower Hamlets Launches Energy Co-operative for Collective Power Purchasing
Tower Hamlets launches energy co-operative
A pioneering energy co-operative has been launched by Tower Hamlets council in a bid to secure cheaper energy for the borough’s residents.
It is to be one of the first such schemes in the country, and will rely on 5000 people signing up to allow the council to attempt to negotiate cheaper energy prices before the onset of winter.
The council hopes that the measure will help residents cope with rising energy costs, after consistent increases in recent years. Tower Hamlets Mayor Lutfur Rahman was positive about the potential impact of the scheme.
He said: “This is a pioneering scheme that will bring huge benefits to Tower Hamlets residents.
“At a time when family budgets are squeezed and many residents are facing financial difficulties, the energy co-operative will be a lifeline to many residents, helping them to save money on their utility bills.”