Skip to content
Back to News

Good Energy's customer base grows

Rising gas prices and an inquiry into the state of the energy sector has encouraged a growing number of individuals to change their supplier.

The increasing dissatisfaction with the Big Six companies has been good news for a smaller provider, Good Energy, which reported a 32 per cent rise in customer base in 2013.

It also managed to post pre-tax profits of approximately £3.3 million, more than double what it achieved the year before.

Good Energy generates 100 per cent of its energy from renewable sources, such as wind, solar and wave, while it believes this is the one of the reasons people are switching.

Juliet Davenport, founder and chief executive of the company, said: "This is a debate that is long overdue. People are becoming interested in where their power comes from, how it is generated."

However, despite the positive figures for Good Energy, it remains miniscule in comparison to the Big Six firms, which account for around 95 per cent of the market share.

The Big Six companies include EDF Energy, E.ON UK, npower, Scottish Power, SSE and British Gas - which is the largest with more than 20 million customers.

Good Energy provides electricity to over 40,000 households in the UK, an increase of 25 per cent since 2012, while it supplies gas to 15,000 homes - a huge jump of 75 per cent on the prior year.

In addition, 59,000 houses use Good Energy's feed-in-tariff services while producing their own gas and electricity through solar panels - a rise of 28 per cent.

Ms Davenport claims the company has continued to see growth of similar speeds since the start of 2014. She also suggested they are cheaper than the Big Six, when direct debit discounts are not considered.

After the figures were announced, shares in Good Energy rose by 7.5 per cent to 290.5p, while they have doubled in the past year.

Posted by Rachel Jenkins


Top