RCS - Good Energy Group - Good Energy launches Smart Export Tariff

Good EnergyAnnouncement

14/02/2023 07:00

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RNS Number : 7758P  Good Energy Group PLC  14 February 2023

London, 14 February 2023

 

Good Energy Group PLC

("Good Energy" or "the Company")

Good Energy launches smart export tariff for Feed-in Tariff customers

 

UK's largest voluntary Feed-in Tariff administrator is piloting smart export
for FiT customers with plans to roll the service out to 80,000 customers this
year

 

Good Energy (AIM: GOOD), the UK's largest voluntary Feed-in Tariff (FiT)
administrator with over 180,000 generation customers, has launched a new smart
export product for its FiT customers, which means they could earn more from
the electricity they generate.

 

Good Energy's move into smart export marks an evolution for the business as it
scales its ambition to help one million homes and businesses cut carbon from
their energy and transport use by 2025. The company sees significant potential
in the scalability of smart export as demand increases from consumers and
businesses looking to generate their own power to reduce their costs and
generate income at the same time as reducing their carbon footprint, a trend
supported by increasingly affordable low-carbon technology.

 

Customers moving to smart export will receive payment for the actual amount of
electricity they export, rather than 50 per cent of what they generate, which
is the FiT scheme's standard estimate of the proportion of power customers'
export. The new service means that customers that export over 50 per cent have
the opportunity to earn more, making payments simpler, clearer and fairer for
thousands of homes that micro-generate their own electric power through
technologies such as solar panels and micro-wind turbines.

 

A small number of Good Energy customers took part in a pilot in December 2022,
with numbers scheduled to ramp up throughout 2023. Customers will continue to
receive their FiT unit rates but with the opportunity to earn more based on
how much they actually export onto the grid. Good Energy plans to roll the
service out to 80,000 customers by the end of 2023.

 

Following this launch, Good Energy plans to introduce a new market leading
domestic export tariff for households in the first few months of 2023.

 

Good Energy is now also able to offer solar installations, alongside heat pump
installations, having brought on the capability through the acquisition of
Igloo Works in December 2022. Good Energy will look to scale this installation
offer as part of its strategy to provide services which help homes and
businesses generate, store, use and share their own power.

 

Nigel Pocklington, CEO, Good Energy said: "Good Energy has long been a pioneer
in supporting small scale clean energy generation, and this launch continues
that tradition of innovation.

 

"As a leading player in helping homes and businesses generate their own clean
power, it's a big moment not only for Good Energy but for a future
decarbonised, decentralised and digitalised electricity grid.

 

"The switch from deemed to actual metered export for tens of thousands of
small generators, and all the data that will provide, is a huge step in making
that future a reality."

 

Learn more about smart export here
(https://www.goodenergy.co.uk/what-are-smart-export-payments/) .

 

Register interest for Good Energy's future products and services at
goodenergy.co.uk (https://www.goodenergy.co.uk) .

 

 

Enquiries

 

 Good Energy Group PLC                                                    Email: press@goodenergy.co.uk (mailto:press@goodenergy.co.uk)

 Nigel Pocklington, Chief Executive

 Charlie Parry, Director of Corporate Strategy & Investor Relations

 Ian Mckee, Head of Communications

 SEC Newgate UK                                                           Email: GoodEnergy@secnewgate.co.uk (mailto:GoodEnergy@secnewgate.co.uk)
 Elisabeth Cowell / Molly Gretton                                         Tel: +44 (0)7900 248213

 Investec Bank plc (Nominated Adviser and Joint Broker)                   Tel: +44 (0) 20 7597 5970
 Henry Reast / James Rudd
 Canaccord Genuity Limited (Joint Broker)                                  Tel: +44 (0) 20 7523 8000

 Henry Fitzgerald - O'Connor / Harry Rees

 

About Good Energy www.goodenergy.co.uk (http://www.goodenergy.co.uk)

Good Energy is a supplier of 100% renewable power and an innovator in energy
services.  It has long term power purchase agreements with a community of
1,700 independent UK generators.

Since it was founded over 20 years ago, the Company has been at the forefront
of the charge towards a cleaner, distributed energy system.  Its mission is
to power a cleaner, greener world and make it simple to generate, share,
store, use and travel by clean power.  Its ambition is to support one million
homes and businesses to cut carbon from their energy and transport used by
2025.

Good Energy is recognised as a leader in this market, through our green kite
accreditation with the London Stock Exchange and as the only energy supplier
with Gold Standard Uswitch Green Tariff Accreditation for all tariffs.

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