REG - Good Energy Group - Clean energy services update

Good EnergyAnnouncement

13/11/2023 07:00

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RNS Number : 1081T  Good Energy Group PLC  13 November 2023

          13 November 2023

Good Energy Group PLC

("Good Energy" or "the Company")

Clean energy services update

 

Good Energy Group PLC (AIM: GOOD), the 100% renewable electricity supplier and
energy services provider, has launched a number of new innovative products as
it continues to scale its offering.

Scaling solar services

In October, Good Energy launched its new smart export tariff. Open to all
households generating their own clean power, Solar Savings offers rewards for
the electricity customers share. The Company is now offering a rate of 15p per
kWh - a 50% increase on the previous rate of 10p per kWh delivered under the
pilot of the tariff which launched earlier this year.

The new product is a step towards Good Energy's ambition to be the UK's go-to
company for solar services. As the country's second largest administrator of
the Feed-in Tariff, the precursor to smart export tariffs, it is already a
significant player in this market and has an engaged existing customer base.
Solar Savings will more than double the export earnings of Feed-in Tariff
(FiT) customers.

Households looking to switch to Solar Savings must also switch to or already
be supplied by Good Energy on the Company's Standard Variable Tariff (SVT). A
further enhanced rate of 20p/kWh is being offered to customers who have had a
solar installation through Good Energy's subsidiary Wessex ECO Energy and are
on Good Energy's SVT. This is the best flat rate smart export tariff currently
available on the market.

Leading renewable certification reform

The Company has launched time-based energy matching for all of its business
customers. The new service provides Good Energy customers with 24-hour
'carbon-free energy' (CFE) data which means that larger business customers
will be able to track their usage to inform how they shift their energy demand
and consequentially lower their carbon impact.

Time-based energy matching is a solution to more accurately certify renewable
energy generation and usage than the current unit based standards like the
Renewable Energy Guarantee of Origin (REGO) scheme in the UK. It has gained
significant traction globally with the likes of Google adopting CFE and the UN
creating a 24/7 Carbon-free Energy Compact. Good Energy is the first supplier
in the UK if not globally to offer the service to all business customers,
taking an industry leading position.

Combined, Good Energy's business customers use around a quarter of a terawatt
hour of electricity in a year. The new service could have a material impact on
their decarbonisation strategies.

The Company is working with software provider Granular Energy to match its
business customers' usage with 400 renewable generators across the UK. Good
Energy plans to increase this figure to its entire generator network of over
2,000 in the next 12 months.

Domestic flexibility

Good Energy is joining the National Grid's 'Demand Flexibility Service' for
the winter 23/24 period with its new 'Power Pause' programme available to
domestic supply customers. The scheme reduces pressure during busy periods to
avoid the grid switching on back-up generators using polluting and expensive
fossil fuels. Participating customers who reduce or shift their consumption
during the identified periods will be rewarded with a credit on their energy
bills. Good Energy's 'Power Pause' will be available to customers with a smart
meter providing half-hourly readings.

Cheaper charging for EV drivers

In November Good Energy launched a new tariff to support the rapid growth of
electric vehicles. The Good Energy Standard (Smart EV) tariff offers an
off-peak rate of 9.41p/kWh, among the lowest on the market, from midnight
until 4.59am. Peak rates start at 34.63p/kWh and vary by region. Customers
will need to have a smart meter to access the off-peak rates, for which the
Company can arrange free installation.

The new tariff will be promoted to the rapidly growing audience of EV drivers
using Zapmap. The 49.9% Good Energy owned EV charging app and data company now
has over 700,000 registered users.

Zapmap Spark

Zapmap has launched a new API offering which will enable companies to provide
a suite of EV-centric features through a single integration. Businesses and
their customers with EVs will gain access to Search API, Plan API and Pay API
respectively. These capabilities include showing charge point locations across
the country, EV route planning, and digital payments for charging sessions -
covering 95 per cent of UK public charge points, route planning and
cross-network digital payments. A number of companies are soon to experience
the benefits of integrating with Zapmap Spark, with more announcements and
integrations with Zapmap's latest offering expected over the coming weeks and
months.

Nigel Pocklington, Chief Executive Officer of Good Energy, said: "Today's
update illustrates the hard work we have been doing to develop a new suite of
services that can enable, incentivise and accelerate the UK's transition to
clean energy.

 

"Good Energy is providing industry-leading products across solar, EV and smart
tariffs, in addition to our end-to-end hassle free heat pump installation
services. We have recently confirmed that we are the top rated Which? Eco
Provider for the third year running and are retaining our five star customer
service rating on TrustPilot. This is confirmation that Good Energy provides
the greenest products with excellent service at prices that are market
leading, truly helping our customers cut their carbon."

 

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)
 Henry Reast / James Rudd / Maria Gomez de Olea                           Tel: +44 (0) 20 7597 5970

 Canaccord Genuity Limited (Joint Broker)                                  Tel: +44 (0) 20 7523 4617

 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 over
2,000 independent UK generators.

 

Since it was founded 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 green kite
accreditation with the London Stock Exchange, Which? Eco Provider status and
Gold Standard Uswitch Green Tariff Accreditation for all tariffs.

 

 

 

 

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