Plan to Lower Energy Bills Through Power of Bulk-Buying

Published on August 17, 2024

People under pressure to save on energy have been promised a radical plan by one city’s leader, who says it will slash power bills. Melbourne Lord Mayor Nick Reece has pledged to establish Australia’s largest community-led bulk purchasing program for renewable energy across Melbourne, if he is re-elected.  “Australians are desperate for power savings at the moment,” he said on Aug. 18. “People want relief from the pressure they’re under. “I would expect that hundreds of thousands of people and businesses would be signing on to this scheme.” Under the M-Power initiative, the City of Melbourne would harness the collective buying power of households and small businesses to secure the lowest possible rates for renewable electricity, in what Reece says could save Melburnians hundreds of dollars each year. ...