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30 June 2010
GOOD ENERGY STRENGTHENS MANAGEMENT TEAM
Garry Peagam appointed as new Group Finance Director Good Energy Group PLC ("Good Energy"), the award-winning renewable energy business, announces the appointment of Garry Peagam FCA, as Group Finance Director. Garry, aged 53, has had a diverse and successful career at a senior level in large multinational organisations. He was Group Finance Director at Blick PLC, a FTSE-quoted manufacturer and installer of communication and security solutions. He doubled the market cap and was instrumental in the sale of the business in 2004 to The Stanley Works Inc, an S&P 500 company. He has significant experience in raising both equity and debt finance in the UK and overseas. Garry also has operational experience highly relevant to Good Energy: he previously headed up SWEBGAS (one of the first independent gas companies to be set up after the industry was fully deregulated in 1998), eventually successfully selling the business to Amerada; he was also Head of Customer Service for SWEB PLC's supply business before its sale to EDF Energy. Most recently he was Managing Director of Mnetics Holdings Limited, a company that delivers Information and Communication Technology (ICT) solutions for major PLCs. Juliet Davenport, CEO of Good Energy, said: "Garry brings very valuable experience with him to Good Energy. He has extensive knowledge of the Energy Sector and also of dealing with City institutions and the wider investment community." Garry Peagam said: "I'm excited to be joining the only truly green electricity company in the UK. Good Energy is unique in the energy supply industry in that all the electricity it sells its domestic customers is certified by the independent Green Energy Supply Scheme. With the latest DECC figures showing that the proportion of renewable electricity generated in the UK actually fell during the first quarter, the large energy suppliers clearly aren't doing their bit to help the UK meet its renewable targets - instead it is up to the smaller innovative companies like Good Energy to show the way to a low-carbon future." The directors take responsibility for this announcement. -ends- 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 suppliers 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 1,300 independent renewable generators that use wind, small-scale hydro, solar power and sustainable biomass to generate heat and power.
- On 8 January 2010, Good Energy Group PLC announced a £11.8 million package for the re-powering of its wind farm 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 and 2010.
For further enquiries please contact Sophy Fearnley-Whittingstall, Head of PR and Communications, Good Energy Telephone: 01249 767482 Email: sophy@goodenergy.co.uk
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