Strong first half financial performance from Chippenham based Good Energy

Good Energy

As it continues its battle to fight off the advances of Stroud-based Ecotricity which is vying to take it over, the Chippenham-based renewable energy supplier Good Energy Group PLC has reported an increase in profits to £17.7 million for the six months ended 30 June 2021, up 19 per cent.

Underlying profit before tax increased to £3.9 million (June 2020: Loss of £0.5m). Reported profit before tax increased to £4.8 million.

Nigel Pocklington, Chief Executive Officer of Good Energy, said: “I’m pleased with the strong performance in the first half of 2021. Growth in revenue, profit and customer numbers has underpinned the delivery of key strategic milestones. I believe the Group is delivering good value for shareholders.

“Good Energy Group is a modern, digital energy company. Our core supply and Feed-in-Tariff business continues to grow whilst we now provide tech-driven, digital products and services in the Electric Vehicle and ‘Energy-as-a-Service’ space.

“I believe that this is an exciting time for the Group to capitalise on the growing awareness of genuine green products and increasing adoption of EVs. We are ideally positioned to benefit from this trend, through our investment in Zap-Map, the UK’s leading EV mapping service, and our own EV products and services.”

Operational highlights for Good Energy include continued investment across the business in innovative projects to drive future profit growth and supporting the UK’s journey to zero-carbon. It says its smart meter rollout is progressing well, with more than 19,000 smart meters installed to date, despite impact from COVID restrictions.  22,000 are planned by the end of 2021.

It’s wholly-0wned Bristol based business ZapMap, a UK-wide map of charging points which helps EV drivers locate and navigate to available charge points, now has more than 250,000 registered users, and 95 per cent of the UK’s public charging points on its network. More than 75 per cent of the UK’s EV drivers have downloaded Zap-Map. Zap-Pay has announced further charge point operators including GeniePoint, char.gy, Motor Fuel Group, Revive and Mer joining existing Zap-Pay networks ESB Energy and Osprey.

Ecotricity receives limited support for its bid for Good Energy