TIDMGOOD
RNS Number : 1081T
Good Energy Group PLC
13 November 2023
13 November 2023
Good Energy Group PLC
("Good Energy" or "the Company")
Clean energy services update
Good Energy Group PLC (AIM: GOOD), the 100% renewable
electricity supplier and energy services provider, has launched a
number of new innovative products as it continues to scale its
offering.
Scaling solar services
In October, Good Energy launched its new smart export tariff.
Open to all households generating their own clean power, Solar
Savings offers rewards for the electricity customers share. The
Company is now offering a rate of 15p per kWh - a 50% increase on
the previous rate of 10p per kWh delivered under the pilot of the
tariff which launched earlier this year.
The new product is a step towards Good Energy's ambition to be
the UK's go-to company for solar services. As the country's second
largest administrator of the Feed-in Tariff, the precursor to smart
export tariffs, it is already a significant player in this market
and has an engaged existing customer base. Solar Savings will more
than double the export earnings of Feed-in Tariff (FiT)
customers.
Households looking to switch to Solar Savings must also switch
to or already be supplied by Good Energy on the Company's Standard
Variable Tariff (SVT). A further enhanced rate of 20p/kWh is being
offered to customers who have had a solar installation through Good
Energy's subsidiary Wessex ECO Energy and are on Good Energy's SVT.
This is the best flat rate smart export tariff currently available
on the market.
Leading renewable certification reform
The Company has launched time-based energy matching for all of
its business customers. The new service provides Good Energy
customers with 24-hour 'carbon-free energy' (CFE) data which means
that larger business customers will be able to track their usage to
inform how they shift their energy demand and consequentially lower
their carbon impact.
Time-based energy matching is a solution to more accurately
certify renewable energy generation and usage than the current unit
based standards like the Renewable Energy Guarantee of Origin
(REGO) scheme in the UK. It has gained significant traction
globally with the likes of Google adopting CFE and the UN creating
a 24/7 Carbon-free Energy Compact. Good Energy is the first
supplier in the UK if not globally to offer the service to all
business customers, taking an industry leading position.
Combined, Good Energy's business customers use around a quarter
of a terawatt hour of electricity in a year. The new service could
have a material impact on their decarbonisation strategies.
The Company is working with software provider Granular Energy to
match its business customers' usage with 400 renewable generators
across the UK. Good Energy plans to increase this figure to its
entire generator network of over 2,000 in the next 12 months.
Domestic flexibility
Good Energy is joining the National Grid's 'Demand Flexibility
Service' for the winter 23/24 period with its new 'Power Pause'
programme available to domestic supply customers. The scheme
reduces pressure during busy periods to avoid the grid switching on
back-up generators using polluting and expensive fossil fuels.
Participating customers who reduce or shift their consumption
during the identified periods will be rewarded with a credit on
their energy bills. Good Energy's 'Power Pause' will be available
to customers with a smart meter providing half-hourly readings.
Cheaper charging for EV drivers
In November Good Energy launched a new tariff to support the
rapid growth of electric vehicles. The Good Energy Standard (Smart
EV) tariff offers an off-peak rate of 9.41p/kWh, among the lowest
on the market, from midnight until 4.59am. Peak rates start at
34.63p/kWh and vary by region. Customers will need to have a smart
meter to access the off-peak rates, for which the Company can
arrange free installation.
The new tariff will be promoted to the rapidly growing audience
of EV drivers using Zapmap. The 49.9% Good Energy owned EV charging
app and data company now has over 700,000 registered users.
Zapmap Spark
Zapmap has launched a new API offering which will enable
companies to provide a suite of EV-centric features through a
single integration. Businesses and their customers with EVs will
gain access to Search API, Plan API and Pay API respectively. These
capabilities include showing charge point locations across the
country, EV route planning, and digital payments for charging
sessions - covering 95 per cent of UK public charge points, route
planning and cross-network digital payments. A number of companies
are soon to experience the benefits of integrating with Zapmap
Spark, with more announcements and integrations with Zapmap's
latest offering expected over the coming weeks and months.
Nigel Pocklington, Chief Executive Officer of Good Energy, said:
" Today's update illustrates the hard work we have been doing to
develop a new suite of services that can enable, incentivise and
accelerate the UK's transition to clean energy.
"Good Energy is providing industry-leading products across
solar, EV and smart tariffs, in addition to our end-to-end hassle
free heat pump installation services. We have recently confirmed
that we are the top rated Which? Eco Provider for the third year
running and are retaining our five star customer service rating on
TrustPilot. This is confirmation that Good Energy provides the
greenest products with excellent service at prices that are market
leading, truly helping our customers cut their carbon."
Enquiries
Good Energy Group PLC
Nigel Pocklington, Chief Executive
Charlie Parry, Director of Corporate
Strategy & Investor Relations
Ian McKee, Head of Communications Email: press@goodenergy.co.uk
SEC Newgate UK Email: GoodEnergy@secnewgate.co.uk
Elisabeth Cowell / Molly Gretton Tel: +44 (0)7900 248213
Investec Bank plc (Nominated Adviser
and Joint Broker)
Henry Reast / James Rudd / Maria Gomez
de Olea Tel: +44 (0) 20 7597 5970
Canaccord Genuity Limited (Joint Broker)
Henry Fitzgerald - O'Connor / Harry Rees Tel: +44 (0) 20 7523 4617
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 over 2,000 independent UK
generators.
Since it was founded 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
green kite accreditation with the London Stock Exchange, Which? Eco
Provider status and Gold Standard Uswitch Green Tariff
Accreditation for all tariffs.
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November 13, 2023 02:00 ET (07:00 GMT)
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