Tower Hamlets residents now have access to a one-of-a-kind community energy cooperative.
Launched by Mayor Lutfur Rahman, Tower Hamlets Energy will provide cheap energy to residents through a large scale domestic power purchasing cooperative.
The scheme has been brought about due to complaints over the rising cost of living and a local demand for less expensive energy.
Residents are being invited to sign up to the scheme, which will be go live once 5,000 households have joined.
It will then negotiate a cheaper and fairer deal for members this autumn, in time for the winter energy demand.
Mayor Rahman said that the scheme could not come at a better time and that it will "bring huge benefits to Tower Hamlets residents".
"At a time when family budgets are squeezed and many residents are facing financial difficulties, the energy cooperative will be a lifeline to many residents," he claimed.
Posted by Sally Raphael
