Does Monzo support the fossil fuel industry?

The deals you get that are green are they comparable to the best deals from British Gas etc? You’re probably costing yourself money in that regard in order to be green, have you considered picking the better deal and donating the extra to the causes you support?

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That’s some strange thinking there…

Say British Gas is £70 a month and being green costs £100. You’re suggesting paying a company who doesn’t sit right with your beliefs and donating £30 to your cause. Rather than giving all your money to your cause.

Either way your spending £100. Only giving £30 to your cause whilst still supporting companies against your belief is a strange way to look at it.

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I understand where you’re coming from, perhaps I could have elaborated on that sentence a little more. I don’t like Facebook at all and I hardly use it due to all the other bad/shady stuff that they do.

As a result, it hasn’t reduced my outreach to the wider world and I’m certainly not disconnected. Therefore if I wanted to get onboard the anti-fossil fuels campaign this would be the thing that would tip me over the edge into deleting my profile and not using Facebook at all.

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Hi :slight_smile: I take it you are talking about my energy provider at home, not the host of my blog, correct?

Octopus energy have a tracker tariff, they follow the wholesale energy market prices. Through the Octopus tracker tariff, you can see that some days it’s slightly higher than the Big 6 (e.g. British Gas), but the monthly average is almost always slightly cheaper than the Big 6. So to answer your question no we don’t pay more, if anything sometimes we’ve ended up paying less. We have also compared our previous energy bills, when we were using EON to our current bills with Octopus and there has never been a significant variation, not even in the winter months.

To me, using a green energy provider is a way to signal the market that this is the direction you want the economy to go. I am not changing the economy massively by using a green energy provider, but I am somehow, which is one of the reasons why I’ve decided to do it. I am not saying your suggestions is wrong, I am saying that for me, supporting an energy provider directly sends a more powerful signal than supporting one of the big 6 which still invest in fossil fuels and investing the difference somewhere else.

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That’s awesome and just the detail I was looking for, thank you. You however missed the chance for a shameless plug by linking to your blog :wink:

I’m with Octopus and recently received an email that they’re launching “Super Green Octopus” where I believe that they guarantee it’s 100% renewable energy. I’m not sure if you’ve read the difference in this service (I haven’t) but sadly for me it worked out around £15 more per month :cry:

FYI I found Octopus through Monzo, they partnered with them and helped people switch at the
click of a button a while back :slight_smile:

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Same here. Octopus has been great so far. Wow - joined them via Monzo in mid-Feb 2019! :mantelpiece_clock:

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Yeah, probably around the same for me too. I love their spin the wheel thing every time you submit a meter reading :smiley: I’ve sadly not won anything yet though :sob:

I often think about this quote by Tom Morello from Rage Against The Machine. He was discussing capitalism rather than environmentalism but it still applies.

“When you live in a capitalistic society, the currency of the dissemination of information goes through capitalistic channels. Would Noam Chomsky object to his works being sold at Barnes & Noble? No, because that’s where people buy their books. We’re not interested in preaching to just the converted.”

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I wonder what your stance is on using Facebook when they have invested in a conglomerate in India that includes oil refinery?

Facebook-Reliance Jiro

You could argue that Reliance is a separate company but they are very close bed fellows.

What I think is interesting here is that this is a good example of Monzo’s platform approach giving power to the customer. It’s less a question about Monzo (which is a neutral intermediary here) and more about Investec.

In the future, it’d be interesting to have a way to compare values-based criteria in the app, so users could select interest bearing pots that met certain criteria.

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The most bizarre way to save money I ever read, being that it doesn’t actually save any money.

I’ve recently changed to London Power, which is 100% renewable (backed by Octopus) and was cheaper on all four metrics (gas and electricty unit prices, and daily standing charges for both fuels) than any other supplier, including Octopus.

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I just wonder - how is it gas could be renewable? Do they produce it from corn or trash?

When someone describes an energy company as 100% renewable I take that to mean 100% of electricity from renewable sources.

I don’t think many offer 100% green gas. Maybe one or two. I don’t think London Power or Octopus does.

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Yeah, apologies, having just rechecked it’s only electricity which is renewable :grimacing:

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Anyway, even if it were renewable, I don’t think we should be concerned about renewability of the fuels regarding the global warming at all. It is not their renewability that matters, but their carbon impact. For example,

Converting rainforests, peatlands, savannas, or grasslands to produce food crop–based biofuels in Brazil, Southeast Asia, and the United States creates a “biofuel carbon debt” by releasing 17 to 420 times more CO2 than the annual greenhouse gas (GHG) reductions that these biofuels would provide by displacing fossil fuels.

https://web.archive.org/web/20080413151143/http://www.sciencemag.org/cgi/content/abstract/1152747

What I mean here is if you can dig out from the earth a fossil that has near to zero carbon footprint and not harmful in any other ways - go for it. Thorium is a good example. (I know, I know, a lot of people who has no clue whatsoever about molten salt reactors safety and footprint would argue now)

Monzo as far as i’m aware is hosted on AWS which is not the best for sucking up electricity generated from coal or natural gas.

I’m not to bothered but I’d like to put this out there for those that are.

I’d say every industry is connected to the oil, gas and mining industries. Technology isn’t possible without them.

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