Clean energy supplier freezes prices and still boosts revenue
Good Energy has announced it has increased revenue despite freezing prices earlier this year.
The company said today (September 30) that for the first half of this year revenues were up on the same period in 2010 by 4.7%, despite a backdrop of ‘energy market turn
Good Energy also reported a profit before tax, which is currently un-audited, of £452,000, an increase of 23.8% compared with the same period last year.
Wiltshire-based Good Energy, which was set up in 1999, currently also has share capital of £1,171,002.
The company, which supplies around 26,000 UK homes, did put up the prices of its combined electricity and gas tariff as the gas is not sourced from renewables and is subject to the same international markets as its ‘Big Six’ competitors.
But, it froze prices on its renewable energy sourced electricity tariffs which are, on average, more expensive than the traditional suppliers with customers signing up because of the sustainability agenda rather than cost factors.
Good Energy chief executive, Juliet Davenport, said: “We are pleased with the continuing improvement in our financial results.
“Having maintained a price freeze for the first half of 2011, our competitive position is now better than it has ever been.
“The backdrop to this year has been one of energy market turmoil caused by events in the Middle East and Japan, and the resulting energy retail price increases.
“Good Energy’s focus on decentralised renewable generation has provided us with price resilience, and we believe that it has a wider role to play in securing a sustainable low-carbon future for the whole of the UK.
“We plan to continue our electricity price freeze into 2012, and expect to work with a growing number of smaller renewable generators, and that the positive trends in the business will continue in 2012.”
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