PLEA Network

19 November 2016, One Step off the Grid, Enova reaches major milestone, looks to expand and try peer to peer trading. Australia’s first community-based electricity retailer, Enova Energy, has reached major milestone of 1,000 customers, and is already looking to expand its geographic base and push into new areas such as peer to peer trading. Enova, based in Byron Bay in the northern rivers region of New South Wales, says it has reached its 1,000 customer level several months ahead of target, as it seeks to reach its break-even goal of 4,000 customers within the first two years of operation. CEO Steve Harris says the retailer has also attracted a higher number of business customers – 70 so far – which will help revenues, and possibly offset a small impact on margins from rising wholesale prices and high prices for large scale renewable energy certificates. Harris says there is clearly a groundswell of community interest in alternatives to the big oligopolies, and a fair deal on renewable energy. Nova, which describes itself as a “community owned renewable energy company”, pays 10c/kWh for solar feed in tariffs, more than 50 per cent above most retailers. “The higher feed in tariff is paying dividends for us. But it’s about community and it’s about environment. Households and businesses are showing they are quite happy to switch from their existing provider,” Harris told One Step Off The Grid in an interview. Harris says Enova is also benefiting from partnerships, such as a solar bulk buy program on the south coast of NSW, and another solar initiative in the ACT. Read More here