It’s been a turbulent time in the markets lately, I’m sure I heard someone from British Gas plead near penury despite a 500 % increase in profits.  Similar claims came from Northern Rock shareholders nationalised after pursuing a growth strategy that made Enron look like a model of financial rectitude. 

Anyway it got me to thinking that Access to Energy and Access to Finance have become a basic requirement in today’s society and leaving these to multinationals more concerned with profit than peoples lives is just asking for trouble.  We need to start developing local alternatives to both the banks and the energy suppliers.  Credit unions are a good start, but nowhere near as developed in the UK as they are in some other countries.  While de-mutualisation of banks and building societies has been a bonus for the city it’s arguable that the process has been a disaster for bank customers with reduced choice for customers and less competition between the banks.  Have a look at Somon Caulkin’s article in this weeks Observer  http://www.guardian.co.uk/business/2008/mar/02/economics1  for a concise critique of how the city is ripping the heart out of the UK economy.

When it comes to energy, massive windfarm schemes dominate the public debate at the moment, in the longer term energy creation has to become much more localised, some of the much more innovative schemes have seen estates or even separate streets take responsibility for energy generation and reduction, these schemes offer people long-term opportunities for people to take control over their own lives and finances.  Have a look at the Highlands and Islands Community Energy Company ( http://www.hie.co.uk/hicec-news.html ), a non profit distributing company with the aim of encouraging communities to generate and use renewable energy for their long term and collective benefit .  

These developments shouldn’t be marginalized in financial inclusion or fuel poverty agendas, its not just about anti-poverty work, these developments can strengthen our entire community.  Setting up these alternatives to the banks and energy suppliers means challenging the orthodoxy that shareholder value is a proxy for customer value. Infact the two often conflict as I know to my frustration having just spent 40 mins this evening trying to get through to BT.  It   It will be a massive struggle to escape the domination of these major companies but local authorities can play a leadership role in helping communities develop these alternatives.  Maybe one step we could take as a first strike is to look at ways to combat the poisonous effects of marketing, São Paulo  might be a fine example to follow, they’ve banned billboard advertising in an attempt to reclaim public space.  http://www.adbusters.org/the_magazine/73/So_Paulo_A_City_Without_Ads.html   

   
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