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For every unit of green energy that’s put on the grid, a REGO certificate is issued with it. These authenticate that the energy comes from a renewable source.
Sounds fine. But REGOs have problems.
The most glaring is that the REGO and its unit of energy can be separated. So a company can buy the certificate without buying the energy. This is greenwashing at its most flagrant — taking brown energy from the grid, and using a now-meaningless REGO to claim it as green.
We buy the REGO and the energy that comes with it — so every unit of electricity we sell is matched with a unit of 100% renewable energy.
But this has its problems too. We could argue that buying REGOs is increasing the country’s demand for green energy and incentivises generators. But we’re not going to do that. Because we’re not putting anything new onto the grid with a REGO— we’re just using what’s already there.
To create a better energy future, we need to get new energy onto the grid. And REGOs won’t get us there.
That’s why we’re forming relationships (these agreements are called power purchase agreements or PPAs) with renewable energy generators in the UK – ethical, community-minded producers whose business models we can get behind.
At the end of our first year of trading, a big chunk of our energy will come from these generators (we’re working on an exact commitment). This will make our electricity fully traceable to the UK farm where it was produced, and help to grow the market for renewable power. All of which contributes to the long-term goal: turning every electron on the grid green.
Then the real work starts. Equipping our customers with the means to generate their own energy.