Renewable Energy Companies Need To Share The Profits For Highland Communities

3rd June 2017

Energy companies should share more of the profits made from the development of the Highlands' natural resources of wind, wave, tidal and hydro to allow economic growth and job creation in the Highlands and Islands.



Olivia Bell, Labour's General Election candidate for Caithness, Sutherland and Easter Ross, is making the plea after carrying out some number crunching around the profits being made by companies in the lucrative renewable energy industry.

She is being supported by Highlands and Islands Labour MSP David Stewart and Councillor Jimmy Gray, Highland Council's Labour leader, who are keen to see profits shared around the region for the benefit of all.

Ms Bell said, based on figures available for all sources of renewable energy, on-shore and off-shore, the profit level for companies and their shareholders over next 25 years is likely to be over £21 billion.

"What about the communities and their shareholders - the people who live and work in the Highlands?" she said.

"With a fair share of the profits created from the development of our natural resources we could create the biggest sea change in the well being of these communities.

"What we need to do is have a serious debate on the profitability levels of these developments and what a fair share for the Highlands would be.

"I have had talks with Mr Stewart and Cllr Gray who are both looking to develop this idea further.

"I will also be calling for all party support at local authority, Scottish Parliament and Westminster Parliament level.

"These ideas are by no way unique and in other countries are tried and tested and are a major driving force in their local economies.

"Think what we could do with even a third of this £21 billion? Two thirds to developer and one third to the communities, is that an unreasonable share?"

Mr Stewart said: "There needs to be a radical rethink about how the profits are shared so that the people of the Highlands and their communities get a fairer share, creating future employment, improved services and improved infrastructure.It would create an environment for the future development of the Highlands."

Cllr Gray suggested that any funds should be made available to service providers in the Highlands to invest - for instance maybe Highland Council and NHS Highland.

"There is no other opportunity likely to arise in the region in the foreseeable future to create such a potential for passing on and sharing wealth, creating a legacy for the future well being of the Highlands."

The Labour Party's General Election pledges also include creating publicly owned, locally accountable, energy companies and co-operatives - at least one in every region. Also a Scottish Investment Bank with £20billion of funds available to local projects and businesses across Scotland.

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Olivia Bell - Labour candidate in the Westminster election 2017 for Caithness Sutherland and East Ross