UK’s first consumer-owned wind farm increases savings for members

Ripple Energy has agreed a new fixed price framework for its groundbreaking Graig Fatha facility in Wales, which will treble the energy bill discount for investors next year compared with 2022. 

Overall, those with a stake in the operation stand too save £783 from their fuel costs in 2023, a significant increase from the previous figure of £275. Understandably, the news has been trumpeted as proof of concept for consumer-owned green energy sources, and welcomed by those that stand to gain as standard bills continue to rise. 

More than 900 people are currently listed as owners of the Graig Fatha wind farm, hailing from locations including Manchester, London, Scotland and South Wales. Since buying into the scheme, all have continued to receive money off domestic energy costs based on how much their share of the wind turbine generates — a system comparable to installing residential solar panels, but without the need to have infrastructure built on your home. 

As a result of the new agreement, those with shares in the project stand to cover their up front costs within four to six years, far quicker than the original estimation of 14 years. More so, the Community Benefit Fund, which pays out to support people living in fuel poverty within the wind farm’s immediate region, also stands to gain significantly, with Ripple projecting around around £450,000 becoming available to those in need. 

‘We are so pleased that we have secured our Graig Fatha members such substantial bill savings,’ said Ripple founder and CEO Sarah Merrick. ‘The purpose of Ripple is to give real people across the UK access to renewable energy ownership so that they can benefit direct from its low and stable costs. The huge bill savings our members will see shows owning a bit of a wind farm really does protect people from spiralling energy prices.’

In addition to the Graig Fatha site, Ripple already has more than 5,600 owners of a new Scottish location which is currently under construction. Meanwhile, a third facility is also in the early planning stage, with over 13,000 people having reserved a place on the project, with spaces still available. The popularity of the concept is, in part, boosted by the fact that savings for members become higher when wholesale energy prices are high. 

Earlier this week, Air Quality News reported on a new study which suggests the public health benefits associated with wind power could be quadrupled if operations at the most harmful types of fossil fuel power stations are reduced.

Image: Sander Weeteling