Good Energy Group PLC Launch of new smart export tariff

TIDMGOOD

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 GBP150 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 GBP224m 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: [e-mail] 
  Nigel Pocklington, Chief Executive 
  Charlie Parry, Director of Corporate 
  Strategy & Investor Relations 
  Ian McKee, Head of Communications 
 
                                              Email: [e-mail] 
   SEC Newgate UK 
 Elisabeth Cowell / Molly Gretton             Tel: [phone] 
 
 
 
   Investec Bank plc (Nominated Adviser 
   and Joint Broker)                            Tel: [phone] 
 Henry Reast / James Rudd 
 
   Canaccord Genuity Limited (Joint Broker)     Tel: [phone] 
 Henry Fitzgerald - O'Connor / Harry 
  Rees 
 

About Good Energy 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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March 22, 2023 03:00 ET (07:00 GMT)