Ecotricity ups offers for Good Energy shares

Ecotricity has upped its offer to Good Energy shareholders for their stake in the Chippenham-based renewable energy supplier.

Stroud-based Ecotricity has increased its offer from 340 pence in July to 400 pence per share.

Excluding Ecotricity’s existing 25.1 percent stake in its rival, the new bid values the company at £53.3 million.

Good Energy chairman Will Whitehorn (pictured) said: “Good Energy has shown strong growth in the first half of this year, and the nature of the rapidly growing markets in which the company operates – clean energy and transport – mean there is significant headroom for more.

“This is in stark contrast to Ecotricity, which has been loss-making for the past four years – demonstrating how unfit an owner Ecotricity would be for Good Energy.

“This hostile offer, if successful, would risk severely damaging the company’s potential for further growth, and deny our investors the opportunity to be a part of it.”