36% Customer Growth for Small Supplier ‘Good Energy’

On the same day that SSE announce the loss of 50,000 electricity and gas customers, small supplier Good Energy have today released a trading statement showing 36% customer growth.

The highlights of the statement include:

– Strong growth in overall customer meter points up 36% to 239,750.

– Achieved industry-leading customer advocacy scores (net promoter score).

– Significantly oversubscribed share offer raising £3.1m.

– Increased competitiveness of our gas product and launch of a carbon neutral green gas proposition.

– Signed a contract for a new SMART-ready customer management and billing system expected to be delivered in H2 2016 as well as embedding our new financial system.

– Completed the sale of a 5MW solar site.

– Achieved our highest ever brand awareness of 6.7%

– Won the Renewable Energy Association customer service and company of the year awards.

– Full year results remain in line with expectations.

Read the full trading statement here: http://www.goodenergygroup.co.uk/announcements/2016/07/21/strong-growth-oversubscribed-share-offer-and-accelerated-investment

The 100% renewable electricity and green gas supplier which has been trading for 17 years, has also added its voice to growing concerns about unsustainable tariffs offered by some rivals.

Juliet Davenport, founder and Chief Executive of Good Energy said, “Some tariffs look unsustainably priced given current wholesale price levels. Competitive deals are great for customers, but loss leading tariffs coupled with a period of price volatility is an accident waiting to happen, especially for companies without proper risk management and trading functions. Blaming Brexit for price hikes is disingenuous – wholesale prices have been rising independently since mid April.”