Though we expect the surplus dedicated to community benefit to be modest from our two inaugural renewable energy schemes (approx. £40,000 spread over 20 years), this surplus nevertheless represents 20% of the total expected annual interest paid to Members. CEC aims to build up its portfolio of projects over the coming months and years, so that it can generate a greater community fund and deliver greater impact in Cumbria.
One of the key ambitions of Community Energy Cumbria is to ensure that a far greater proportion, if not all, of the expenditure and income from our renewable energy projects is kept revolving in Cumbria. As an Industrial and Provident Society for the Benefit of the Community, it is written in our Rules that a proportion of our surplus will be distributed amongst projects with social or environmental benefit within Cumbria.
Our Members have agreed that the Community Benefit Fund should prioritise projects within 20 miles of our Killington based hydro scheme; support local projects that are linked to energy saving or generation; or support projects delivered by CEC’s founding charity – Cumbria Action for Sustainability.
At November 2020, the community benefit fund stood at £5,000, and the Board are inviting Members to propose projects to be considered for funding by 5pm on Monday 11th January 2021. Payments to supported organisations will be made in February 2021.
The CEC Community Benefit Application Form can be returned by post or email.
Your Society – So Your Vote Matters
Because Community Energy Cumbria Ltd is an Industrial and Provident Society, it means that whatever the size of your investment, everyone has one vote. CEC is keen that as many members get involved in the organisation, whether this means simply casting your vote at AGMs, serving as Board Members, spreading the word about CEC or even helping to bring further renewable energy projects forward to the Society.