RCS - Good Energy Group - Launch of new smart export tariff

Good EnergyAnnouncement

22/03/2023 07:15

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RNS Number : 7773T  Good Energy Group PLC  22 March 2023

22 March 2023

 

Good Energy Group PLC

 

("Good Energy" or the "Company")

 

Launch of new smart export tariff

 

Good Energy (AIM:GOOD), the pioneering clean energy company, is pleased to
announce that it has launched a new smart export tariff for households with
solar panels. This latest milestone is in line with Good Energy's strategy to
expand its decentralised energy services offering.

 

The 'Power for Good' tariff will pay customers 10p per kWh, a leading rate for
a variable export tariff which can help the typical solar-powered home
generate around £150 per year for the energy they share.

 

The tariff has been launched to complement and accelerate Good Energy's solar
installation rollout strategy as more households look to become renewable
generators. As previously announced, Good Energy has identified a key target
segment of over 250,000 households considering a solar installation by 2026.
In 2022, UK installations doubled to over 130,000, with high energy prices
driving increased interest in households generating their own power. It is a
rapidly growing market in which the Company, as a trusted green pioneer with
over 20 years as a renewable electricity supplier and a legacy that includes
being the first UK company to pay households for the solar energy they
generate, is well positioned to become a market leader.

 

In February, the Company announced that it has commenced domestic rooftop
solar installation, completing its first installation just two months after
the acquisition of Igloo Works in December 2022.

 

The 'Power for Good' tariff comes after the introduction of a smart export for
the Company's Feed-in Tariff (FiT) customers. As the largest voluntary
administrator of the Feed-in Tariff and the second largest overall, with over
180,000 customers to whom it processed over £224m worth of payments in
2021/22, Good Energy continues to play a leading role in the future potential
of the solar energy industry.

 

Nigel Pocklington, CEO of Good Energy, said: "Solar is a key pillar of our
green energy services strategy and today's announcement marks another
significant milestone in our journey towards being the go-to provider and
one-stop-shop for solar power generation and leading export tariff prices. It
is a pleasing development which follows swiftly on the back of our first solar
installation, and we expect it to drive more households to switch to solar.

 

"Following a year of record energy prices, we expect the growing interest in
solar to continue at a significant rate as the Government, together with
businesses and consumers, focus on building long-term renewable energy
solutions. We will continue to drive interest and expand our customer base
with competitive leading export tariffs, financing and bundling to make
cutting carbon cost-effective and accessible for all."

 

 

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

                                                                          Email: GoodEnergy@secnewgate.co.uk (mailto:GoodEnergy@secnewgate.co.uk)

 SEC Newgate 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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