Who would manage the Community Sustainable Funds, and where would the investment come from?

The investment required to transform our energy supply would be via Sustainable Community Funds, administered through local stakeholders such as local authorities and councils.

Most local councils have a more diverse political complexion than is represented in the major parties at national level, with a much stronger focus on local and regional issues.

As an example, I was in contact with one (John Rigg) of the leaders of R4GV (Residents for Guildford & Villages) shortly before the May 2023 Local Elections.

Unfortunately, John lost his seat on Guildford Borough Council (GBC) which comprises 48 Councillors. R4GV’s number of Councillors was reduced from 15 to 7 following an alleged "dirty tricks" campaign for the mainstream parties.

Guildford Greenbelt Group (GGG) is another community-based group and it has 3 Councillor.

However, notwithstanding those election losses, in total these 2 community-based groups still secured 10 Councillors, a still powerful independent local grouping making up 21% of the total.

Typically local councillors in these types of group will be more conscious of local environmental concerns as well as global worries about the impact of climate change.

It is these types of local grouping that are best placed to evaluate and administer the right mix of energy supply for their local communities and businesses. These community-based groups will have a much better understanding of the key issues facing their local electorates, certainly better than remote national politicians and civil servants.

Investment sources

And where is the necessary investment to come from to transform the local energy supply without increasing public spending?

In the example of the Guildford Borough, the local population is approximately 144,000 and the total "Best Avaialable Solution" (BAS) Energy Supply investment required is approx £4.47 billion. The UK population is approximately 68 million and the total UK personal pension wealth is approx. £6.8 trillion, so the average personal pension wealth (per head of population rather than pension fund holders) is roughly £100,000 before adjusting for regional variations.

Consequently, the estimated total personal pension wealth for Guildford Borough is £14.4 billion (before applying a regional adjustment factor, i.e. upwards in the case of Guildford Borough compared with the UK average).

Therefore, the required BAS Energy Supply investment via a local Sustainable Community Fund could be £4.47 billion in Guildford Borough representing approx. 31% (or significantly lower % if the regional adjustment factor were applied) total local personal pension wealth, which would also offer a safe and competitive "green" investment return for those pension funds (and consequently future pensioners).

There is a 10 year duration implementation period for the Energy Supply BAS so the required annual investment would be approximately 3% of the local personal pension wealth.

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