Enova - A New Way to Think About Energy

Village Journal 310

 

Approximately 95% of residents in Clunes & surrounding areas a couple of years ago said they did not want to entertain the CSG industry here. It goes without saying then that they also do not want to invest in a company which invests in or directly mines Coal Seam Gas. However many of us do just that when we pay our electricity bill. Most of the big retailers of electricity in our region (Origin, AGL to name two) are directly involved in the CSG industry as most of us know. Up until recently there was no other option, that has changed though.

Enova, Australia's first community owned renewable energy retailing & installation business are a local company currently entering the market & invite us to be part of them. Their stated aims are to supply 100% renewable energy (wind or solar – not forest waste) to us, the consumers, from local sources using local employees, financed by local shareholders. 'Local' being residents living from the Tweed to the Clarence. Their constitution states that they must be at least 51% locally owned, they hope for much more.

 

As a start-up company Enova is offering 4000 shares at $1000 each from 20.08.15 to 25.09.15 (dates may vary so check their website). Once the shares are distributed Enova hopes & expects to gain an energy retailers licence from the Austra- lian Energy Regulator. As an energy retailer Enova aims to secure 5,000 customers representing 4% of the 130,000 households in the Northern Rivers by June 2018. It also aims to advise & install renew- able energy systems & energy storage systems as well as educate the public in renewable energy.

The management of Enova aim to provide the States lowest Green Power prices & the highest feed-in tariffs. These prices would hold for the duration of your agreement with them. They say the big fellas might initially offer less, however that would be a short term proposition, after which your price would go back to the normal non-discounted one.

It would seem to me that most of us who have any comprehension of the energy market are not very impressed by what we are being offered as far as energy price goes, the fixed supply charge which can add quite an amount proportionally to an energy bill, especially if you don't use a lot of energy, where that energy is coming from (at least 70% is from coal in Australia) & what else these energy retailers are investing in such as CSG. So pro-activity is required & investment in an energy company such as this is the way to go. 'Without some risk in life we won't go forward!'

For those interested in either buying shares in Enova or changing over to them as a retailer, or both, go to www.enovaenergy.com.au & down- load the prospectus. Future local meetings will be held at: Tweed Heads Sept. 2, Nimbin on Sept. 9 & Federal on Sept. 14. Check the website for times & venues.

Jim Edwards

 

(disclaimer: at the time of writing this I do not have a financial interest in Enova however in the near future I may buy shares in it) 

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