Good Energy Group PLC Good Energy Group PLC deal with DONG Energy

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Good Energy Group PLC

21 March 2017

Good Energy Group PLC

("Good Energy" or the "Company")

Good Energy Group PLC brings offshore wind to energy mix for first time through deal with DONG Energy

Good Energy Group PLC ("Good Energy" or "the Group") is pleased to announce it has signed an agreement with DONG Energy which will see the AIM-quoted renewable electricity supplier and generator source offshore wind power for its customers for the first time.

The deal secures 12% of the output of the 210MW Westermost Rough Wind Farm operated by the Danish energy group in the North Sea, enough renewable electricity to power more than 26,000 average homes.

The agreement is for an initial period of 12 months but is likely to be extended for the longer term as part of the wider co-operation between the two companies. It is also intended that the volume of power purchased by Good Energy from DONG will increase over time.

Juliet Davenport OBE, founder and chief executive of Good Energy, said: 'We're delighted to be working with DONG Energy to bring offshore wind power to our customers for the first time.

'This agreement will help us meet ever-increasing demand for 100% renewable electricity as our customer base continues to grow.

She added: 'Offshore wind is a huge British success story and so we're pleased to be playing our part by buying power from Westermost Rough.

'Offshore wind will complement the other renewable technologies in our energy mix, such as onshore wind and solar, so this agreement is a great fit for Good Energy and a good deal for our customers.

'DONG Energy is a world leader in offshore wind who shares our passion for innovation in renewable energy, so we're really looking forward to working together to build on this initial agreement.'

Søren Scherfig, Head of Trading & Portfolio Management at DONG Energy, commented: 'We have an ambition to support the energy transformation in UK and become one of the UK's leading energy suppliers to industrial & commercial customers and independent retailers. We want to supply sustainable, reliable and affordable energy to our customers.'

'This agreement with Good Energy is an important milestone as it's the first time a domestic supplier in the UK will buy energy from a specific DONG Energy offshore wind farm'.

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Enquiries:

 
Good Energy Group PLC               Tel. [phone] 
 Juliet Davenport, Chief Executive   766795 
 Denise Cockrem, Chief Financial 
 Officer 
Arden Partners plc (Nominated       Tel: +44 (0) 12 
 Adviser and Joint Broker)           1423 8900 
 Steve Douglas, Patrick Caulfield 
Camarco (Financial PR Adviser) 
 Geoffrey Pelham-Lane, Billy          Tel: +44 (0) 20 
 Clegg, Georgia Edmonds               3757 4980 
Investec Bank plc (Joint Broker)    Tel: +44 (0) 20 
 Jeremy Ellis                        7597 4000 
 Sara Hale 
 
 Good Energy Press Office 
 Luke Bigwood                        Tel: [phone] 
                                     478358 
 

Notes to editors:

-- Good Energy is a fast growing 100% renewable electricity supply and generation company, offering award-winning customer service.

-- An AIM-listed PLC, and founder member of the Social Stock Exchange, its mission is to support change in the energy market, address climate change and boost energy security.

-- The Company has been awarded 4 out of 5 stars by Which? for customer service in 2016 and 2017 and has been voted the best energy company for customer service by users of MoneySavingExpert.com for three consecutive polls.

-- As at 31 December 2016 Good Energy has 71,486 renewable electricity customers and 44,107 carbon neutral gas customers. It also provides Feed-in Tariff administration services to 133,012 sites, totalling 248,605.

-- Good Energy is the owner of Delabole Wind Farm, the UK's first commercial wind farm and owns and operates Hampole Wind Farm, near Doncaster. The company also owns and operates seven solar farms.

-- Good Energy received an average customer advocacy of 45. A net promoter score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company's products or services to others. It is used as a proxy for gauging the customers overall satisfaction with a company's product or service and the customer's loyalty to the brand.

-- Good Energy has won a number of awards including Renewable Energy Association Company of the Year Award 2016, Business Green Company of the Year 2015, and, was named Social Impact Company of the Year at the 2014 and 2015 Small Cap awards.

-- Westermost Rough Wind Farm, situated five miles off the Yorkshire Coast north of Hull, consists of 35 Siemens 6MW turbines, each with a tip height from sea level of 177 metres.

-- 12% of the annual output of Westermost Rough equates to 105 GWh, enough to power 26,663 average homes, based on average UK household electricity consumption of 3,938kWh (Energy Consumption in the UK, 2016).

This information is provided by RNS

The company news service from the London Stock Exchange

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March 21, 2017 03:02 ET (07:02 GMT)