Co-op Power set to save customers over 1000 tonnes of CO2 a day as part of growth plans
16 June 2021
- Co-op Power set to expand wind and solar energy buying group as part of Co-op's new ten-point climate plan that sets out blueprint to achieve net zero for its direct and indirect carbon emissions by 2040
- Co-op Power puts plans in place to grow the business significantly over the next few years with targeted growth of 30% for 2021
- Co-op Power, greener and 4.2% cheaper on average than its competitors
- Highlights importance of collective energy buying and the need for unprecedented levels of cooperation on journey to net zero
Co-op Power set to save customers 1000 tonnes of carbon a day* as part of ambitious plans to grow the business significantly over the next few years - with targeted growth of 30% for 2021.
The move will see Co-op Power - which is the biggest energy buying co-operative in the UK - use its collective buying might to help Co-op suppliers, and other businesses, save money and source purely green, low-cost energy in an ethical, sustainable way.
As part of its growth plans, Co-op Power will:
- Expand its Co-op Power wind and solar energy buying group to offer its services to Co-op’s suppliers and more UK businesses and organisations - as part of Co-op's recent ten-point climate plan announcement to achieve net zero carbon emission by 2040 - ten years ahead of the government’s own ambition.
- Double the amount of Power Purchase Agreement’s (PPA’s) to help boost renewable capacity and reduce carbon intensity of electricity. This will not only guarantee a source of green but also guarantee providence of power, whilst helping to fund future green projects.
- Develop a co-operative PPA proposition where multiple customers join together with Co-op Power to commit to a PPA difference. Helping those who might not be the size or have the capabilities to do this in house.
- Expanding its services throughout its supply chain to help move more suppliers and businesses to quality green energy, reducing consumption and use of fossils fuels, offering services to support their ambitions of net zero. By joining, Co-op Power can harness the power of strength in numbers to get everyone the best value for the best quality green energy, ultimately helping other business to get a better deal.
- Products and service to support the roll out of local Photo Voltaic (solar) including the creation of an electric vehicle charging installation and increasing the installation of solar panels on the roof of buildings - as seen at Biggleswade Co-op's greenest UK depot, where 3.5 MW of solar PV is being installed on the roof. The balance of the electricity will come from Biggleswade windfarm, which the Co-op helped to develop.
Co-op Power’s collective, co-operative buying model allows it to buy and distribute 100% REGO renewable energy from sustainable wind and solar, not biomass, making it on average 4.2% cheaper than its competitors. This buying in bulk approach allows it to pass on the market wholesale price directly to its customers.
Having benchmarked several companies’ current energy usage and total spend against Co-op Power products and services in a recent study, the total invoice bill of the companies surveyed was £27 million, if each of those companies switched to Co-op Power, over £1.1 million would have been saved. This is in addition to already saving £1 million in unused energy during the 2020 pandemic through Co-op Power’s innovative No Take No Pay policy.
David Roberts, Co-op Power Managing Director, said: “We recognise the climate emergency and accelerate our response, more so than ever it is vital that we continue to work with our own brand supply chain and other businesses to reduce costs and reduce carbon.
“Expanding Co-op Power and increasing our PPA’s will not only guarantee a source of green but reinforces our climate commitments and a fairer and more sustainable future for us all. 60% of our supply chain admit they don’t have the resource to reach net zero alone, co-operation is in our DNA and we are keen to share our expertise with others.
“This will not only help us achieve the targets set out in our ten-point plan, but also promote ethical and sustainable practices that will help build the UK’s renewable energy capacity.”
Co-op Food CEO, Jo Whitfield, said: “We are facing a monumental climate change crisis entirely of our own making. We must recognise that we are in part responsible and that we have to do more and quicker. Emissions from our operations are where we have the greatest responsibility and can make the biggest difference.
“This is a hugely significant year and the world will be watching as the UK Government hosts the largest climate change conference ever (COP-26). Just as the Government must be ambitious in delivering against its own commitments, we must all be bold and take collective action to tackle climate change.”
You can read the Co-op’s full ten-point climate plan, here: https://www.coop.co.uk/climate
*Co-op Power save customers 160k tonnes of carbon a year and the Co-op 142k tonnes of carbon. With growth, Co-op Power we will be able to save 365k tonnes a year for its customers, working out at 1000 tonnes of carbon a day
Notes to Editors Elliott Lancaster | Press Officer | 07808 609 944 | email@example.com
About the Co-op The Co-op is one of the world’s largest consumer co-operatives with interests across food, funerals, insurance, legal services and health. Owned by millions of UK consumers, the Co-op operates 2,600 food stores, over 1,000 funeral homes and provides products to over 5,100 other stores, including those run by independent co-operative societies and through its wholesale business, Nisa Retail Limited.
Employing over 62,000 people, the Co-op has an annual turnover of £10 billion. As well as having clear financial and operational objectives, the Co-op is a recognised leader for its social goals and community-led programmes. The Co-op exists to meet members’ needs and stand up for the things they believe in.
About Co-op Power Co-op Power is a unique energy buying group you can trust. Combining buying power to demand better value has always been at the heart of the Co-op movement. By working together and pooling our energy buying with other organisations, we can negotiate the best value for energy, plus a wide range of fantastic terms and benefits that only a handful of companies in the UK can achieve. Alongside substantially cheaper bills, we offer fixed and flexible contracts, fair and transparent fees, accurate billing and insightful reporting. We can help you reach your sustainability goals too, by only procuring 100% REGO certified renewable energy and advising you on ways to save energy across your operations.
For more information, visit: www.coop.co.uk/power
As part of its commitment to zero carbon, the Co-op has developed five wind farms across the UK and has already cut its direct carbon impact by 50%. Co-op has also committed to reducing its direct greenhouse gas emissions by a further 50%, and its product related emissions to 11% by 2025.