Melbourne's Lord Mayor proposes M-Power, a community-led bulk purchasing scheme for renewable energy to lower electricity bills.

Melbourne's Lord Mayor, Nick Reece, has proposed the M-Power initiative, a community-led bulk purchasing scheme for renewable energy, aimed at reducing electricity bills for Melbourne residents and businesses. The plan would leverage the collective buying power of households and small businesses to secure the lowest possible rates for renewable electricity, potentially saving Melburnians hundreds of dollars each year. The scheme, expected to cost the City of Melbourne up to $2 million, would benefit residents of other inner-city councils and could begin negotiations in 2025, with contracts available in 2026.

August 15, 2024
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