Transition in Action: The Totnes Renewable Energy Supply Company (TRESOC)
TRESOC (© Rob Hopkins)
Empowering the Community
A Transition Towns Energy Workshop in 2007 provided an opportunity to discuss community ownership of renewable energy, leading to the formation of TRESOC, the Totnes Renewable Energy Society. In 2008, TRESOC was registered as an Industrial and Provident Society to ensure the profitable development of renewable energy resources for the benefit of the community of Totnes and 15 neighbouring parishes1. Following a protracted period identifying suitable projects, TRESOC is now preparing to launch its Prospectus, offering membership to everyone resident within Totnes and Environs.
There are technologies available to us now to develop commercial supplies of useful energy from renewable resources in the Totnes area, principally from wind, various forms of biomass including waste, and small-scale hydropower plant. To enable everyone to join, the minimum individual shareholding will be £20, up to a maximum of £20,000. Each member will have one vote, regardless of the size of their shareholding, ensuring democratic control of the Society. Shares can only be sold back to the company for their original value, providing protection against takeover or carpet bagging. TRESOC aims to become a locally owned renewable energy utility company, provide healthy, sustainable dividends to members as renewable energy plant comes on line.
All details of the Prospectus and share issue will be made available through the Transition Towns network – watch this space!
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