Good Energy Profits Soar as Big Six Customers Switch

Renewable EnergyBritain’s largest supplier of renewable energy says customer numbers rose by a staggering 32% in 2013, helping it more than double its pre-tax profits to 3.3m.

Renewable gas and electricity supplier, Good Energy has seen a huge boost in its customer base, as more and more disgruntled consumers cut their ties with the ‘Big Six’ energy firms and set their sights on renewable energy.

Wiltshire-based Good Energy, which notably generates all of its electricity from renewable sources, still accounts for a tiny portion of the UK energy market.

Juliet Davenport, chief executive and founder of Good Energy, said the results show a shift in the public’s mindset about the origin of their power and its potential environmental impact, “This is a debate that is long overdue. People are becoming interested in where their power comes from, how it is generated.”

The political furore over energy prices has put small providers into the limelight like never before. Last year, Greg Barker, the energy and climate change minister, called for “a vast new army of disrupted new energy players” to turn a market dominated by the big six into the “big 60,000″.

The company launched in 1999 under a different name and since then, their share price has been on the up, reaching 290.5p (an increase of 7.5%) after its results were released. The company’s shares have almost doubled over the past 12 months.

Filed under: Renewable Energy Generation — David Richardson on April 8, 2014

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