Bristol’s very own city-wide currency, the Bristol Pound, has exceeded expectations and is now accepted in around 800 shops and businesses. Residents of Bristol are even able to pay for council tax and buses using this form of currency, of which there is now an estimated £750,000 worth in circulation.
The purpose of having this Bristol-centric alternative to pounds sterling is to keep money within the local economy, benefitting smaller shops and businesses and continuing the development of the city.
The £B has the same value as the pound, but simply ensures it cannot be used outside of the city.
Using Bristol Pounds for your energy bill
Good Energy are the latest business to start accepting Bristol Pounds (£B) as payment. You can now pay for your energy bill in £B — even those who aren’t a resident of Bristol can join in!
This is a world first for the energy supplier, as no other energy company lists a local currency as an accepted form of payment.
Good Energy CEO and founder Juliet Davenport explained the decision:
“We believe the future of energy is homegrown, sustainable generation which benefits communities and the planet.
“We’re incredibly excited to be leading the way by inviting our customers in Bristol to support green energy and their local economy at the same time.”
Good Energy’s ties to the South West
As an independent supplier based in Wiltshire, Good Energy provides 100% renewable energy to its customers, generated from around 750 producers of wind, solar, hydro and wave energy around the UK. Much of the green energy generated is done so within the South West.
In Bristol alone, the supplier boasts around 4,000 customers, making their latest move to accept Bristol Pounds a clearer decision, and not just a PR stunt for the chance to be pioneering.
the Bristol Pound is the first local currency of its kind to have electronic accounts managed by a regulated financial institution. Consumers can pay registered shops and businesses using text, or their online account, (or of course paper notes) — making paying your monthly energy bill genuinely feasible with this online capability.
Bristol Pound CIC CEO and Director, Ciaran Mundy, believes the decision by Good Energy is commendable:
“We think this sets the precedent for other utility companies to follow suit – Good Energy are showing us it’s possible for an organisation supplying electricity generated from clean, local sources to use a currency which helps the rest of the economy go green.”
The Bristol Pound scheme is run as a not-for-profit partnership between the Bristol Pound Community Interest Company and Bristol Credit Union.