TRESOC is an Industrial & Provident Society (IPS) formed in 2007 by a group of Totnes residents concerned about the threats of depleting global oil and gas supplies (peak oil) and the impacts of climate change. Most communities find that an IPS offers the best legal structure to develop community renewables.
Download the Society’s Rules dated June 2014.
When we set up the IPS – based on our understanding of ‘Community of Place’ – we marked out an area of shareholder benefit (vs. operation) as Totnes and its fifteen surrounding parishes. Download a pdf of our original Boundary_map However, per member agreement at an SGM on May 22, 2014, this reach broadened to a wider ‘Community of Interest’ described as ‘the community centred in Totnes and the surrounding area’.
A quick bit of background on that…
After extensive discussions and analysis of our financial modeling for TRESOC’s 2014 Share Issue, the Board have decided that the most appropriate way to raise finance is through share capital, or equity, rather than shares plus bonds. As a natural follow-on from this decision – and in order to increase our potential for raising this share capital – came the proposal to remove the Totnes and Environs boundary, so as to invite people from just outside the boundary and further afield to become members.
This will also allow those directly involved in the projects, but who live outside the 15-parish boundary, to become members, e.g. South Devon Rural Housing Association’s residents and board. It also gives us the opportunity to build awareness and support for Community Energy in the areas where our projects are located, e.g. Torquay Museum. We also have a growing list of people who have an interest in the area (ex-residents, would-be residents, frequent visitors, friends and family) who would become eligible.
As a TRESOC member, you:
- have an equal vote in how the Society is managed and your local energy resources are utilized and conserved, irrespective of the number of shares you hold
- ensure that the local community participates in the ownership and management of local renewable energy resources.
- are eligible for a variable interest payment, based on the performance of TRESOC
- protect yourself against extreme fluctuations in international energy markets by supporting a local energy supply
- significantly enhance the contribution of Totnes and Environs in dealing with global climate change
- contribute to the provision of renewable energy supplies for Totnes and Environs that, in turn, will build long-term prosperity and economic security
TRESOC maintains a list of members which is available for inspection by the Financial Services Authority. Members’ details are otherwise held in confidence. If you are a member and wish to see the details that we have on file for you, please email a request to firstname.lastname@example.org, write to TRESOC at 107 High Street, Totnes, TQ9 5SN or phone 01803 867431.