MP for Hornsey and Wood Green
I want to encourage local residents to buy shares in a new local company – en10ergy! This is a really wonderful project to come forward and needs and deserves support from all of us.
There has never been anything like it before in Muswell Hill and it is a first for North London. Local people are invited to invest in en10ergy by buying £1 shares that are not transferable and can be sold back only after three years.
En10ergy is a local social enterprise company registered with the Financial Services Authority on 30 October 2009.
It is technically an Industrial and Provident Society [reg. no 30824 R] but it is like a trading company in having members who are shareholders and who are not liable for its debts.
On the other hand its activities are not carried on for the benefit of the shareholders, but for the benefit of the community. The expectation would be of a social dividend rather than financial reward. The aims are to protect and improve the environment: by promoting and investing in renewable energy installations and by reducing carbon emissions and energy waste within Muswell Hill.
The other major project concerns the Muswell Hill Low Carbon Zone (LCZ) and it is funded by the Greater London Authority. Haringey council is in the lead, supported by the Muswell Hill Sustainability Group, British Gas and other interested organisations. The Zone comprises parts of the Broadway (St James’s Church to the roundabout) and roads to the south of it, including Church Crescent and Springfield Avenue.
The role of en10ergy is facilitative: it will assist in obtaining the commitment of Zone residents and businesses to reducing carbon emissions and waste by 20.12% before the summer of 2012: solar panels are an option. Many residents have contacted en10nergy with requests for advice on how to improve the energy efficiency of their homes.
en10energy want to be able to respond to them and to help and encourage others to put out less carbon and to reduce their bills. A good response to the share offer will enable them to do so.
Shares cost £1 each and people need to buy at least £10. That gives membership and right to vote. That will help the company invest in renewable energy in Muswell Hill, help turn the area into North London’s first low carbon zone and help spread information about how to make homes energy efficient. For more information, and to buy shares, please click here for more information.