CoEnergy was incorporated in December 2018 by members and staff of the Ottawa Renewable Energy Co-operative (OREC). CoEnergy was born out of a desire to enact real change through a co-operative business model. Seeking to build on the success of OREC, CoEnergy can do all that OREC could and more.
CoEnergy Ontario was created to expand the adoption of sustainable energy technologies in Ontario and to enable individual to participate in the financing and ownership of such projects in Ontario. Co-Energy Ontario will offer its members the opportunity to collectively identify, improve, own and manage commercial and residential property assets that reduce greenhouse gases and/or provide other environmental, economic or social benefits to the region. CoEnergy is a multi-class co-op with two classes of membership – consumers and community members. Consumer members are those who are purchasing the energy services. Community members are those who support these projects in various ways including financial and benefit from a more resilient and sustainable local community.
Vision & Goals
CoEnergy’s vision is a future where Ontario is a national and world-wide leader in demonstrating how local communities can come together to reduce greenhouse gases and mitigate the impacts of climate change.
If CoEnergy is successful, the following long-term impacts will be achieved:
- The region’s greenhouse gas emissions will decrease.
- Average energy use per square foot of commercial property will decline.
- Commercial and residential property owners throughout the region will learn about and implement enhancements and practices that reduce their properties operating costs, improve resident health and well-being and enhance environmental performance.
- The region will have a robust and proven social finance mechanism that can support a variety of projects designed to enhance the region’s the economic, social, and environmental vibrancy and performance.
The Co-op’s goals are:
- Create a democratic, self-reliant, environmentally, socially and financially sustainable cooperative business model for community resiliency in Eastern Ontario & West Québec. Build a membership of 500 people from Ontario within two years of start-up.
- Provide a fair return to residents of Ontario who wish to invest in energy efficiency, sustainable energy enhancements and community resiliency. Pay a fair and competitive dividend yearly on cooperative member equity investments.
- Increase the accessibility of investments options and awareness of sustainable investing and sustainable energy in Ontario. Be a strong voice in Ontario for addressing climate change through education, workshops, social media, and advocacy.
- Advocate for hospitable policy climates that facilitate community – financed resiliency projects and other forms of sustainable technology in Ontario.
Governance & Policies
- CoEnergy’s projects are democratically governed through a co-operative model, which strengthens community engagement.
- Members of CoEnergy are those living in Canada older than 16 who have purchased a member share and whose membership has been approved by the board of directors. Every member has one vote and may run for a position on the board.
- The Board is made up of up to seventeen directors who are elected by the members at the annual general meeting. Directors serve for variable terms and are not remunerated. The Co-op holds director and officer insurance for the activities of the board. The board is responsible for contracts, projects, reserve funds, dividends and surplus distribution, and borrowing.
- Advisory committees have been formed to advise the board on business, technical, and communication issues.
- CoEnergy is incorporated as a multi-class service Co-operative with share capital under Ontario’s Co-operative Corporations Act and operates under Bylaws, to which any changes are approved by the membership at the Annual General Meeting.
CoEnergy adheres to the 7 principles of co-operative governance
Our internal policies are pending approval from the Board of Directors.