• Swindon & Wiltshire Economy
• Wednesday September 18 2024
• Author Name: Peter Davison

Good Energy hails ‘profitable’ half year in ‘normalising’ market

Renewable energy supplier Good Energy has hailed its ‘profitable’ half year as the business expands in a ‘normalising market’.

Publishing its interim results for the six months ending June 30 today (Tuesday), the Chippenham-based firm reported pre-tax profits of £4.4 million – 78 per cent of its full-year profit for 2023.

Revenues were £97.4 million, down from £156.1 million during the same period in 2023, reflecting a reduction in wholesale energy costs, which shot up after Russia’s invasion of Ukraine.

The company said it is now positioned to offer ‘whole greener home and business’ energy services to customers as the new Labour government prioritised a transition to clean energy.

CEO Nigel Pocklington said: “As the energy supply market has normalised, we have shown strong profitability in the first half of the year, whilst our expansion into energy services is showing promise as we consolidate our offer to customers.”

“Having completed three acquisitions in the clean energy installation services space we are now offering solar, storage, heat pumps and EV charging across the South – a trusted, truly green brand offering whole greener home and business solutions.

“Good Energy is established as the microgeneration specialist, with a significant market share of rooftop solar customers, leading export tariff rates and premium installation services.

“In a favourable policy environment promising an imminent ‘rooftop revolution’ as the new government accelerates the clean energy transition, Good Energy is well placed for growth.”

Latest: Good Energy buys solar installer Amelio Enterprises in £6 million deal