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 twin Archimedes Screw hydroelectric scheme by Caversham Weir. With the money we make from selling our electricity, 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 sustainability projects.
Our membership comprises itself of ordinary people mostly from Reading, who are enthused about what Reading Hydro is doing. Each have paid £1 to join up and each have a say and a vote at our AGM’s. 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 AGM’s from within the membership, lead the project forward. As Directors, they are held responsible for delivery 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