For news about Good Energy Limited visit www.good-energy.co.uk

31 March 2008
FINAL RESULTS FOR THE YEAR ENDED 31 December 2007

 Good Energy Group PLC (“Good Energy” or “the Group”), the PLUS quoted supplier of 100% renewable electricity, announces today record final results for the year ended 31 December 2007.

Business Highlights:
• Seventh year of continuous growth in sales

• Customer base increase of 15% to 23,770 households and businesses

• All round operational improvement

• Successful share offer in December raised £1.07m before costs

• Well positioned strategically as a leading brand in the rapidly expanding renewable electricity market

• Strengthened Board

Financial Highlights:

• Profit before tax £303,688 (2006: £32,863)

• Earnings per share of 4.0p (2006: 1.6p)

• Turnover up 16% to £12.9m (2006: £11.1m)

• Considerable improvement in net cash position - net funds at year end of £1.26m (2006: net debt of £1.37m)

John Sellers, Chairman, comments: 

It is a pleasure to report that 2007 has been our best ever year.

Since the formation of our company in 1999, the Board has consistently asserted that Climate Change is happening and that its increasingly harmful effects require a commensurate response in the form of reduced carbon emissions. Accordingly and irrespective of the extent of political and regulatory initiatives, we introduced our 100% renewable electricity product as an immediately available solution for householders and businesses. 2007 has seen our 7th year of continuous growth in sales of this product.

We believe that the Group’s impact on wider public recognition of the need for a response to Climate Change is greater than would reasonably be expected from a company of our comparatively modest size. Our Good Energy brand, our PR activity, and the valuable influence of our customers and shareholders in their communities are all leading to a rapidly expanding market for low carbon products and services.

We broadly welcome the proliferation of businesses, product offerings and investment funds that have arisen under the “green” banner. However we are entitled to suspect that some of these are more financially exploitative than authentic. It is time that our regulatory authority concluded its work on the establishment of a proper rating system so that potential customers may make informed decisions. We believe that Good Energy will benefit from this.

Our high levels of environmental and ethical standards of course do not release us from our obligation also to deliver good financial results and positive shareholder returns. 2007 demonstrates good progress on this front.

Our relatively strong year-end cash position has been helped by the results of the Share Offering in December.  I would like to take this opportunity to extend a warm welcome to the new shareholders in the Group. We now have over 1,700 shareholders and we do see these as a valuable resource.

Looking ahead, the Board recognises that it needs to continue to build, prudently, the Group’s volume and profitability to a level which will give respectable financial returns to shareholders on a sustainable basis, and attract new capital if the need arises. We will benefit from the recent strengthening of our Board by the promotion of Jon Fairchild to the position of Group Finance Director, and by the appointment of Rick Squires as independent Non Executive Director.

We are conscious that the economic outlook has shifted since the Balance Sheet date and we continue to assess our business plans with a view to mitigating the inevitable risks of being a relatively small player in a globally volatile market, notwithstanding that we are well positioned strategically as a leading brand in an attractive and expanding sector.

John Sellers
Chairman
31 March 2008.

The above financial statements do not constitute full accounts within the meaning of S240 of the Companies Act 1985, but have been extracted from the statutory accounts for the years ended 31 December 2007 and 31 December 2006 respectively, which include unqualified auditor's reports thereon.

These accounts were approved by the Board of Directors on 31 March 2008.

The Directors of Good Energy Group PLC accept full responsibility for this Announcement.

To become a Good Energy customer please call 0845 456 1640 or visit our website www.good-energy.co.uk

Enquiries:

Good Energy Group PLC                                     +44 124 976 6090
Juliet Davenport (CEO)
Jon Fairchild (Finance Director)
www.good-energy.co.uk

Bishopsgate Communications Ltd.                           +44 207 562 3350
Jenni Herbert / Siobhra Murphy                        
goodenergy@bishopsgatecommunications.com

Notes:

Good Energy Group PLC is the holding company of Good Energy Limited and Good Energy Generation Limited.

Good Energy Limited has an Electricity Supply Licence to operate in England, Wales, and Scotland and is regulated by OFGEM. It is the only UK electricity supplier exclusively to sell electricity matched 100% (over 12 month periods) by purchases from wholly renewable sources including wind, solar and hydropower.   By supplying 100% renewably generated electricity, the company enables its customers to become part of the solution to Climate Change.  The Company was the first UK electricity supplier to publish independent audits of its 100% renewable supply claims.

Good Energy Limited also operates “Home Generation”, an award-winning home renewable electricity generation scheme whereby the Company undertakes to buy the electricity output from small-scale renewable generation equipment installed on private premises.

Good Energy Generation Limited is the Group's acquisition vehicle for the purchase of renewable energy generation assets. Its policy is to own and operate such assets and to sell their output exclusively to Good Energy Limited. It owns a 4MW wind farm at Delabole in North Cornwall which supplies part of Good Energy Limited’s electricity needs. It has applied to re-power this wind farm in order to increase the output by up to three times the current level. The company continues to seek to acquire new renewable energy generating assets. 

The Group’s core ambition is to commercialise a wider range of lower carbon energy applications for households and businesses under the Good Energy brand.

The Group is based in Chippenham, Wiltshire and commenced operations in 1999.  With Juliet Davenport as its Chief Executive, the Group has a staff of approximately 50 and has 1,700 shareholders, nearly all of whom are Good Energy customers.

END

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