The International Financial Reporting Standards (IFRS) framework defines an asset as follows: “An asset is a resource controlled by the enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise.”
Funding Coops are all about providing for our needs, on the local scale. To provide for our needs, we need to acquire assets (like land, buildings, machinery and equipment), which will produce the goods or services we need (such as clean food, water and air, shelter, clothing, electricity, transport etc). We call these “productive assets”.
The assets we can prepay for through the funding co-op’s prepayment system are tangible, or touchable assets. They are real things, which produce outputs of real value, which we pay for in our regular bills. In the case of Pre Power, they include solar panels, inverters, cabling and switches, batteries, energy management systems, electric vehicle charging stations, and more.
We want to convert spare monetary assets within the community into real assets which look after the communities needs. These real assets will provide for our needs, and our prepayments funding system will provide them cheaper than other methods.
On top of that, our assets will generate surplus income for members to invest back into the community through our participatory budgeting scheme.
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Get Involved today
When you join Pre Power One you become a member of a local co-operative that is owned and operated by people that live local like you.
Before you join, your options for buying electricity from Pre Power will be explained and a membership will be created to match your needs.
Not in the ACT region? Submit your email address above and we can talk about options for Pre Power in your area.