Reading Hydro is a Community Benefit Society (CBS). This means that we’re a democratic co-operative that serves our community .
We raised £1.2m from mainly local investors to build a hydroelectric scheme next to Caversham Weir. With the money we make from selling electricity and the Feed-in-tariff, we will operate and maintain the scheme, pay a return to investors, and put any surplus into a community fund for local low-carbon and other sustainability projects.
You can find out more here about how community benefit societies work.
Our members are ordinary people, mostly from Reading, who are enthused about what Reading Hydro is doing. Each has paid £1 to join and have a say and a vote at our AGMs. All of our members have an open invitation to participate in our events, although these have been curtailed because of COVID-19.
The Directors, elected at our AGMs from within the membership, lead the project forward. As Directors, they are responsible for the operation of the hydro scheme and the general running of the Society and meet regularly to make sure everything is going to plan.
You can find our society rules and our previous statements of accounts here.
WHAT READING HYDRO MEANS TO OUR SUPPORTERS
“Reading Hydro is a chance to get involved with green energy on my doorstep and feel like I’m making a difference.” Chris V, post-graduate student, UoR
“It makes great sense to re-engage the power of the river at Caversham Weir, which has been used here for much of the last 1000 years, so let’s harness it again!” Sophie Fenwick-Paul, Chair
“It’s important to move to more sustainable ways of energy production and living – having a hydro scheme so central to Reading will be great in showing what’s possible through practical action!” Erica Purvis, TechnicalNature