The £1.5 million fund to end OIL Fuel Poverty

We have the solution to end OIL Fuel Poverty. It is the only solution. One and half million pounds will take us to the next stage, changing hundreds of thousands of lives, potentially saving thousands of lives.

“It is easier to raise a million pounds than it is to raise twenty thousand.”

Tim Smit – Founder of The Eden Project – made that statement when he was the lead speaker at our Symposium two years ago (you can get a flavour of that day by clicking here:

If there is one person that should know it is Tim, given his incredible record of bringing major projects to fruition. So with this in mind, we officially launched our next goal over the bank holiday weekend: we will raise £1.5 million by the end of September. The initial response has been amazing…over £50,000 pledged by a number of our extremely loyal members in three days! They believe in what we are doing and they are clearly looking for something much more rewarding than what is on offer from any savings account right now.

Amazing returns: there is no doubt that our Community OIL Fund works. We have already been able to help many to tackle their OIL Fuel Poverty by negotiating their OIL down to a rate they could never achieve on their own, then paying for their OIL and giving them flexible, manageable ways to repay through the year. In essence, the return for those we can help is peace of mind. However, the thing that makes this unique scheme work for everyone are the numerous returns for those funding the Community OIL Fund. Not only do they know that their money is being used to hugely benefit the social fabric of this country, but they also receive interest far higher than any account is paying right now.

The headline in the Money section in The Sunday Times, 25th August 2013, might explain why some would want to shift their money into the Community OIL Fund so rapidly Older savers pull out of cash. The article goes on to say: “Older savers have withdrawn £27.1bn from cash deposits over the past year as a toxic combination of higher living costs and plunging interest rates has driven them in search of better returns”. In other words, people of all ages are looking for something different to do with their money.

But £1.5m is a lot of money! OIL Fuel Poverty is a lot of problem. So many organisations work in the field of Fuel Poverty and so far nothing like this has ever been put in place to help those that use heating OIL. So here it is, the solution, and whilst it might sound like a massive amount of money for a tiny community based social enterprise to raise, actually, given the enormity of the fund’s remit, this may only scratch the surface of what eventually needs to be raised.

We have had an extraordinary start since we tentatively began at the end of last year – a few extremely courageous, committed backers from within our membership added £100k to the fund. For this they are being very much rewarded – both in interest and in the human stories coming back from those their money has helped.

What next? If you would like to know more about your options in this fund or you know any individual or organisation that would like to be involved, then please come and talk to us. Thank you