12th Feb 2014 09:36
LONDON (Alliance News) - Good Energy Group PLC said it increased its customer base during the second half as its decision to freeze prices through the winter may have offered an attractive alternative to conventional UK energy providers.
The AIM-quoted renewable electricity supplier said its electricity customers increased to 40,000 for the six months ended December 31, 2013, from 34,000 in the previous half year.
The company also said its gas customers increased to 15,000 from 11,000, and its feed-in-tariff sites increased to 59,000 from 52,000 in its first half.
Good Energy said a key factor impacting on growth in the latter months of the year was the announcement that it was holding electricity prices until the end of March 2014, other energy companies which increased their energy prices substantially during the winter months.
The company said it achieved significant developments in the second half of 2013, including consents for some 100 megawatts of solar parks to be built.
"With more than 117,000 supply and FIT sites now at the end of January, and financing in the form of equity, debt and proceeds from sales of developed sites, the group is well placed to continue to grow its customer base and continue investment in its generation portfolio," Chief Executive Juliet Davenport said in a statement.
Good Energy shares were up 4.1% to 249.90 pence in early trading Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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