Good Energy
 |
|
| Public limited company | |
| Industry | Renewable energy |
| Founded | 2003 (as Good Energy) |
| Headquarters | Chippenham, Wiltshire, England |
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Key people
|
Juliet Davenport, Chief Executive |
| Products | Renewable energy |
| Revenue | £64,300,000 (2015) |
|
Number of employees
|
276 (2015) |
| Parent | Good Energy Group PLC |
| Website | goodenergy.co.uk |
Good Energy is a British energy company based in Chippenham, Wiltshire that generates and purchases renewable electricity, and supplies electricity and gas to homes and businesses throughout the UK. Its CEO is Juliet Davenport.
The company was set up in 1997 as Ofex, an offshoot of the German power company Unit Energy Europe. The business was later bought by its management and changed its name to Good Energy in 2003.
As of the end of June 2016 Good Energy supplied 72,250 customers with electricity and 43,000 with gas. The company also administered over 124,500 feed-in tariff generation sites in 2016, making it one of the largest feed-in tariff administrators in the UK.
Good Energy has said its aim is to move the UK away from reliance on fossil-fuel, to a network of small, independent generators supplying local customers. The company sources some of its power from 800 small and medium-sized, distributed renewable electricity generators across the country, as well as investing in its own generation sources.
In 2012 Good Energy Group was listed on the Alternative Investment Market and raised an additional £4 million of investment.
On March 10th 2015, Good Energy announced it had partnered with energy start-up Open Utility to trial the UK's first renewable energy marketplace, 'Piclo', where generators and consumers buy and sell renewable energy directly at prices they agree on. The 6-month trial began in October 2015, and was funded by the DECC Energy Entrepreneurs Fund and Nominet Trust. It was also supported by Ofgem, the energy industry regulator.
In early 2016, 6.8% of the shares of the company were bought by their rival Ecotricity, making them the second largest shareholder. Ecotricity increased their holding to almost 25% in October 2016.
As of January 2016, Good Energy had two wind farms (at Delabole, north Cornwall, and Hampole, South Yorkshire) and seven solar farms, with planning consent for a further three.
Delabole wind farm was the first commercial wind farm in the UK. In December 2008 planning approval was granted to Good Energy in order to refurbish the wind farm. The development was financed by an £11.8 million package including a £9.6 million loan from the Co-operative Bank and £2.2 million equity from Good Energy Group's own resources. In August 2010 the ten original turbines were decommissioned and replaced with four more powerful turbines. In February 2011 Delabole was officially reopened. In January 2013, Good Energy launched a community tariff offering people living near Delabole wind farm a 20 per cent discount on their energy bills.
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Wikipedia