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26 April 2010
GOOD ENERGY GROUP PLC RELEASES ANNUAL RESULTS
GOOD ENERGY GROUP PLC
ISIN GB0033600353
Final Results for the year ended 31 December 2009
CONTINUING GROWTH WITH IMPROVED PROFITABILITY
Good Energy Group PLC, the award-winning renewable energy business, today
announces a further improvement in its operating and financial results for the
year ended 31 December 2009, its 10th year of operation.
Key results:
 Business Highlights:
* Growing electricity customer base in difficult market conditions
* Gas business developing well
* Increasing our community of generators
* Further improvement in financial results
* Continuing to win awards and accolades for products, staff, and management
* New £12m wind farm at Delabole now funded, construction underway
* Introduction of dividend programme in prospect for 2010
Juliet Davenport, Group CEO said: "All in all, it's been a busy year for Good
Energy Group. We now have more than 26,000 customers supporting our community
of over 1000 independent renewable generators. The company has matured
significantly, investing in both systems and staff to ensure that our customers
not only get Good Energy's 100% renewable electricity, but great customer
service from people who really understand renewable energy. We've also seen
some significant government announcements on Green Accreditation, Feed-in
Tariffs and Renewable Heat Incentives, all of which are potentially beneficial
for our business."
Commenting on the Group's generation business following the successful
completion of the funding for the new wind farm at Delabole, she added: "We are
now investigating the further development of small to medium-sized wind farms
to supply energy to Good Energy Ltd, using our specialist knowledge of how to
engage with local communities. We hope to contribute to government policy
around this subject and demonstrate how the UK can shorten the time taken to
establish new renewable generation capacity."
John Sellers, Group Chairman, said: "We have the basic assets for success -
loyal and passionate customers, a growing marketplace, legislative changes
playing to our strengths, a tremendous product and a great team operating the
business. Importantly, we also have a loyal body of supportive shareholders,
and we feel our actual and prospective financial performance now supports a
dividend programme which we expect to introduce later in 2010."
The Good Energy Group PLC Annual General Meeting will take place at 11am on 27
May 2010 at Chippenham Town Hall, High Street, Chippenham, Wiltshire, SN15 3ER.
The Directors take responsibility for the content of this announcement.
Notes:
Good Energy Group PLC has c 1,700 shareholders. Its shares are traded on PLUS
Markets and are bound by their regulations. For more information please visit
www.goodenergygroup.co.uk
Good Energy is unique in the energy supply industry by buying and selling only
100% renewable electricity. To compare the fuel mix of other supplier please
visit: www.electricityinfo.org/suppliers.php
More than 26,000 homes and businesses across the UK have switched to Good
Energy.
By paying them for the energy they produce, Good Energy also supports a
pioneering community of more than 1,000 independent renewable generators that
use wind, small-scale hydro, solar power and sustainable biomass to generate
heat and power.
In 2008, Good Energy added a Gas product to its range. It now has over 2,500
customers, a 50% increase in the year.
On 8 January 2010, Good Energy Group PLC announced a £11.8 million package for
the re-powering of its windfarm at Delabole in North Cornwall comprising £9.6
million in debt finance from the Co-operative Bank and £2.2 million equity from
Good Energy Group PLC's own resources.
Good Energy wins numerous awards including, most recently: West of England
Business of the Year 2009; Sunday Times Green Company 2009; Observer Ethical
Award for best online retail initiative 2009. Good Energy has come top in the
latest Which? Money's customer satisfaction survey for electricity suppliers;
Juliet Davenport won PLUS markets CEO of the Year in 2009.
Further Enquiries:
Sophy Fearnley-Whittingstall, Good Energy, 01249 767482
Tori Read, Good Energy, 01249 766795
END
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