Ripple energy "strike off"

[Tinbum]

Think 1st Energy have pulled the plug on data from wind farms.

[nowty]

Think 1st Energy have pulled the plug on data from wind farms.

I see that as a positive step to cut the ties with 1st Energy.

GF and KH are collaborating with their volunteers to have their own dashboards direct out of the Coop's websites.
A sneak preview was sent to the GF members,

[Tinbum]

I see that as a positive step to cut the ties with 1st Energy.

So do I.
Right from the very first communication from them on social media, when they first bought the assets, I thought what a shower.

[SporranMcDonald]

I have occasionally been logging into the Ripple dashboard to check whether 1st Energy have complied with my request to Delete-my-Data.
I sent that deletion request about two weeks ago.

Yesterday the Ripple dashboard still showed my personal info, but turbine-output-info appears to have stopped updating after 4th May.

The real-time output on the "Insights" page shows No data for GF or KH.

Upon reflection the amount of information on the Ripple Dashboard was completely over-the-top / superfluous for my purpose.
What the Coop volunteers have come up with is entirely satisfactory IMO.

[AE-NMidlands]

In today's update from the Kirkhill coop I see

This week, still frustrated by the refusal of BTG to hand over our files, the auditor, Craufurd Hale has said that it must rebuild the accounts from the beginning of 2022 in order to have confidence that the 2023 accounts are correct. This is going to take much longer than we had hoped, but we have updated the FCA with the position and it now looks like completion of 2022 and 2023 accounts by the end of June.

Sounds suspiciously like the financial service industry parasites are making more work (money) for themselves.
We have seen it over and over again with solicitors too...

[AE-NMidlands]

and it goes on to say

As part of this process, on Friday we emailed a sample of members (provided by the auditor) to ask them to confirm their details to him. While we have that information, the documents that we as members have are included in the files still held by BTG, so he needs to double check to make sure that what is in the accounting system is in fact correct.

For those of you who were emailed, the member number is helpfully called 'reference' in your wattage document (handy for everyone to know!) and those documents are still available to view and download for the moment.

but I don't have a "wattage document!"
I do have a Customer Agreement which says

“Your Project Watts” means 378.372 Project Watts (that You have purchased by paying Your Wattage Amount (such number to
be revised if You purchase any Additional Project Watts by paying an Additional Project Watts Amount in accordance with clause
12
“Your Supplier” means a Licensed Supplier with whom You have chosen to enter into an Electricity Supply Contract; and
“Your Wattage Amount” means the sum of £ 654.58 that You have paid pursuant to the terms of this Agreement in order to
beneficially own Your Project Watts and Your shares in the Society

but nowhere do I see any kind of a customer reference...

[pudding]

Go onto the Ripple website, and go into payments, then download some of the wattage amount or arrangement fee docs. The reference/member number is on all of them.

[AE-NMidlands]

Go onto the Ripple website, and go into payments, then download some of the wattage amount or arrangement fee docs. The reference/member number is on all of them.

Thanks. How come their suggestion of where to find it was so wrong?

[nowty]

The Coop website for Derril Water is now up and running.
https://derrilwater.com/

You need to register with your exact name and email address you used with Ripple. It takes a day or so for them to verify your details but now mine has been approved and shows my correct amount of ownership.

[nowty]

I attended tonight’s GF webinar which I think was very informative and helpful.

Highlights were,

• Too much money was paid out to members, the charities were paid 12 months in arrears and Ripple were more interested in growing their business than financially managing their current projects which has led to a £75k shortfall owing to charities and opex.

• Ripple charged too little for their services which was £6k per annum, then suddenly Ripple wanted to increase it 10 fold to £60k or else they would fold, ten days later they did fold. A new service provider will be in place by the end of next month, looking like circa £20k to £30k with some services done inhouse.

• Regarding the £75k shortfall owing to charities and opex, it will take roughly 4 months to clear this and build up a £100k buffer. So payments are likely to be reinstated in around 2 months time but the 4 months of payments not paid will be swallowed up with the shortfalls and the financial buffer for prudence. The current extremely sunny settled weather with low wind is exacerbating restoring the financials.

• The latest PPA with Octopus is circa 9.5p / kWh so after opex there should be a small uplift to savings after the 4 month moratorium on payments.

• There is not a problem with continuing payments via Octopus but they are looking at direct bank payments (quarterly, bi annual or annual) which would mean members could change their energy supplier and the Coop could look for other PPA suppliers. But they say Octopus are competitive in their PPA’s. The FCA may also object to direct payments if they think the nature of the business has changed from one of mutual benefit to a financial investment. A poll showed most preferred to keep the status quo via Octopus, there will be a an official vote later either at the AGM or EGM

• With regards to 1st Energy who bought the Ripple platform, I don't think there is likely to be any dealings with them.

• A snipit of info on KH is that the Coop (or SPV) had to sign an emergency note (I think to its lenders) so there is likely to be a 6 month halt to payments to its members. Probably they should not have mentioned this in a GF meeting, but it was mentioned, the meeting is recorded so I have no issue in passing the info on. It was not mentioned but I suspect this will also apply to DW as they are equally in debt to the same lender and possibly worse as they are not yet operational.