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20 April 2009
GOOD ENERGY RELEASES ANNUAL RESULTS
Good Energy releases annual results
Good Energy Group PLC ("Good Energy"), the UK's only dedicated 100% renewable electricity supplier, has announced positive final results for the year ended 31 December 2008. Good Energy Group is quoted on PLUS (Ticker: GEGP). Business Highlights: - Further expansion of the Good Energy product base:
- Entry into the Gas market with the “Renewable Heat” product
- Increase in home generator customers from 320 to 462
- Launch of online Good Energy Shop
- Approval to repower the Good Energy wind farm in Delabole, Cornwall. The larger farm will generate approximately 27GWh per annum when at capacity, help stabilise power prices and power more customers.
- Recognition by its peers through a series of industry awards including PLUS markets CEO of the Year; Micropower Award for Innovation; Wiltshire Wildlife Trust award for Outstanding Contribution to the Environment and the British Renewable Energy Company Award.
- Increase in staff numbers and appointment of a new MD to further strengthen the senior management team.
Financial Highlights:
- Profit before tax £509,022 (2007: £545,269)
- Earnings per share of 4.0p (2007: 6.8p)
- Turnover up 37% to £17.7m (2007: £12.9m)
On publishing the results, John Sellers, Chairman of Good Energy, said: “Against a backdrop of difficult economic times I am pleased to announce that Good Energy remains well positioned to develop the Group businesses and grow profitably in the year ahead. There is no change to our strategy and our ambition to be the UK’s most trusted supplier of renewable electricity and associated products and services for a low carbon lifestyle will remain a top priority for the year ahead.
We will also be focusing on increasing Good Energy’s generating capacity following the positive news from North Cornwall District Council that our application to re-power our wind farm at Delabole has been approved. This is excellent news for Good Energy and will add significant shareholder value. Funding this project will be an exciting challenge and one we look forward to embarking on.
Finally I want to acknowledge the outstanding contribution made by Good Energy employees. I am confident that our Chief Executive, Juliet Davenport, and her team will steer us through an exciting future and the demanding challenges it presents.”
Please click here to read the full report
-ends- About Good Energy:
• Good Energy is unique in the supplier industry by buying and selling only 100% renewable electricity - a major point of differentiation versus other players in the market. To compare the fuel mix of other suppliers please visit: www.electricityinfo.org/suppliers.php
• More than 25,000 homes and businesses across the UK have switched to Good Energy. Good Energy buys electricity from more than 500 independent renewable generators that use wind, small scale hydro, solar power and sustainable biomass to generate electricity.
• In an official report entitled "Reality or Rhetoric? Green Tariffs for Domestic Customers" from the National Consumer Council, Good Energy was rated the greenest energy supplier in the UK. The report states: "For those consumers who want a green electricity supply, pure and simple, this is probably the closest they will get to it."
• Good Energy is owned by the Good Energy Group, an independent PLC, quoted on PLUS which specialises in investing in renewable energy. Good Energy Group has around 1700 shareholders, of which more than 90% are customers of Good Energy.
• Good Energy campaigns for more renewable generation in the UK, and is one of the original signatories to new Ofgem guidelines which aim to clear up confusion over 'green' energy tariffs.
• In 2008 alone Good Energy was named Best Buy for green electricity by Ethical Consumer magazine. It also won a series of awards including: the Micropower Award for Innovation; the Wiltshire Wildlife Trust Award for Outstanding Contribution to the Environment; the British Renewable Energy Company Award and Juliet Davenport won PLUS markets CEO of the Year.
• The Good Energy Shop helps customers reduce their energy use and costs as well as providing the means for individuals, businesses and communities to generate their own green energy. www.goodenergyshop.co.uk
• Join Good Energy today and start getting 100% renewable electricity. Call 0845 456 1640 or sign up online at www.goodenergy.co.uk
Media Enquiries
David Hopkins
Carbon International
david.hopkins@carboninternational.com
+44 (0)20 7483 3343
Samantha Hill
Carbon International
samantha.hill@carboninternational.com
+44 (0)20 7483 7205
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