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Green Energy London Co-operative Inc. (GEL) May 9, 2013 What is Co-op?

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Presentation on theme: "Green Energy London Co-operative Inc. (GEL) May 9, 2013 What is Co-op?"— Presentation transcript:

1 Green Energy London Co-operative Inc. (GEL) May 9, 2013 What is Co-op?

2 HISTORY OF CO-OP MOVEMENT With the Industrial Revolution underway in the 1800s, co-ops were started to provide essential services and fair prices for the new urban working classes. The first co-op of prominence was in Rochdale, England in Even before this, European artists’ guilds existed in the early Renaissance and the ancient Chinese had co-operatively organized memorial societies.

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4 Today, there are thousands of co-operatives all over the world with over 600 million members, all subscribing to 7 principles of co-operation: 1.Voluntary and Open Membership 2.Democratic Member Control (one member = one vote) 3. Members’ Economic Participation 4. Autonomy and Independence 5. Education, Training and Information 6. Co-operation among Co-operatives 7. Concern for Community

5 CO-OPS IN CANADA The first co-ops to achieve stability in Canada around the turn of the 20th century were farmers' marketing and purchasing societies in Ontario, Quebec, Nova Scotia and Manitoba. The groundwork laid by the agricultural co-operative movement blazed the trail for all of the other kinds of co-ops in Canada. Today, you can find co-ops ranging in size from 3 members to millions, operating in nearly every sector.

6 CO-OPS IN ONTARIO There are more than 1,300 co-operatives in 400 Ontario communities. The largest co-operative sectors in Ontario involve: housing co-ops (45%), followed by child care (17%) and financial services (17%). The fastest growing co-op sectors in Ontario are local (often also organic) food and renewable energy. GEL, LDREC, AGRIS, and GECO are all co-ops doing renewable activities in the London area.

7 `` CO-OPS LOCALLY: East Village Arts Co-op Mountain Equipment Co-op ` Mary Campbell Co-op On The Move Organics Tolpuddle Housing Co-op

8 ONTARIO RENEWABLE CO-OPS - -Currently includes wind, solar and biofuel. -Community power projects frequently focus on production and distribution of renewable energy working at the community level to raise investment and support project development. -Installations are guided by Feed-In Tariff rules (FIT 2.0) which prioritize community projects through a “points” system and “set-aside” of 10% capacity for renewable projects that are majority owned by co-ops and aboriginal communities.

9 COMMUNITY POWER is about community participation and ownership and the building of capacity for locally inspired community action around energy generation and use of energy now and for the future.

10 SUPPORT AGENCIES - There are 2 key provincial agencies to help co-ops in Ontario with governance, project management and ownership. 1. Ontario Sustainable Energy Association 2. Federation of Community Power Co-operatives The goal is to work collectively towards maximizing the set-aside allocation, efficiencies and best practices and in the long run, putting community power on the map in a way like Denmark and Germany has where citizens own up to 50% of all renewable energy generation.

11 PROCESS VERSUS PEOPLE A BALANCING ACT FOR CO-OPS!

12 THE CHALLENGES - Issues co-ops must find solutions for include: Members – time, skills, leadership, expertise OPA, MOE, LDC, FSCO – communications, FIT rules, points, complexity of process, permits Financing – upfront capital costs, rates, legalities Political uncertainty – Green Energy Act?? Co-op Act – offering statement requirements Buildings – roofs, technology, risk management Mobilization of communities – limited timelines Unknowns – nimby social friction/wind, weather

13 THE DOCUMENTS – Projects over 10 kw require Offering Statements for share issue including: Statutory declarationsSummary financial info Summary of issues with if applicable – 3 years min/max projectionsCurrent debt details Table of contentsCurrent legal proceedings Corporation informationRelated party transactions Description of businessMaterial contracts Business planDividends/returns paid Use of proceedsOther material facts Risk factorsCertificate of disclosure Capital structureFinancials if applicable Description of securities offeredForecasts Method of sale of securitiesEscrow agreement if applicable Market on which securities are soldMaterial agreements

14 THE POSITIVES – Green industry is the leading sources of Ontario jobs Ontario has adequate skills labour capacity support A culture of conservation is practiced by consumers Energy is an integrated component of policy makers Climate change mitigation is incorporated into code Making use of unproductive roof surface (solar power) Renewable and decentralized energy is purchased through FIT with differentiated pricing based on costs and reasonable investment return, priority grid access Technologies for energy storage smooth peak demand Local utilities are encouraged to develop distribution systems - conservation, demand, decentralized energy Ontario legislation/regulatory support renewables

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