A NEW energy company has been launched by Ecoisland, with pledges of big savings and community benefits for the Isle of Wight.
The Ecoisland Energy Service Company (ESCo) was unveiled at a House of Commons reception, last week, when Ecoisland Community Interest Company (CIC) founder David Green said the new company had the potential to change the energy landscape of Britain.
It will work with energy management specialists Maingate to reduce the amount of energy consumed, by installing smart technology that allows customers to better monitor energy use and find ways to use less or shift to more off-peak consumption.
Maingate CEO Baard Eilertsen said customer trials over the last 15 years demonstrated that when provided with real-time information about energy use and the ability to manage consumption remotely, consumers and businesses changed their behaviour, reducing consumption and making savings.
A percentage of ESCo profits will be invested back into the community via the CIC. Some funds will be used to fund the renewable energy infrastructure, while a trust will be formed of Isle of Wight-based members to give grants to Isle of Wight projects.
“Some of it will go back into the renewable energy infrastructure helping the Islanders to own more of their energy real-estate whilst some of it will go into the Ecoisland Trust to provide funding for community projects and green business start-ups,” said a spokesman.