Permanent Derogation From Price Cap

RNS Number : 5192H

Good Energy Group PLC

01 August 2019

 

Good Energy Group PLC

Confirmation of permanent derogation from price cap

100% renewable electricity supplier and localised self-generation power service provider, Good Energy Group PLC ("Good Energy" or "the Company"), announces it has been awarded permanent derogation from the price cap by the energy regulator OFGEM, in recognition of the many ways in which the Company continues to support renewable energy generation across the UK.

On 2 January 2019, Good Energy confirmed that it had secured temporary derogation from the energy price cap implemented by OFGEM. Good Energy has today received confirmation from OFGEM that this exemption from the price cap (derogation) will apply for the full duration of the price cap until it is removed in 2023.

As with all its tariffs, Good Energy's variable electricity and gas tariffs directly support renewable generation across the UK. OFGEM's decision recognises Good Energy's commitment to providing our customers with 100% renewable power and carbon neutral gas in a way which supports increased renewable generation and the transition to a low carbon economy.  

More information about the price cap and Good Energy's derogation can be found on the OFGEM website. https://www.ofgem.gov.uk/publications-and-updates/decision-issue-good-energy-limited-and-good-energy-gas-limited-enduring-derogation-renewable-standard-variable-tariffs-default-tariff-cap

Juliet Davenport, Founder and Chief Executive Officer of Good Energy, said:

"Customers choose Good Energy because they know the importance of achieving the clean energy transition we so urgently need. They understand that, through choosing Good Energy, they can make a real difference. OFGEM has recognised the need for that choice to be available, and that our model genuinely supports renewable generation in the UK."

Enquiries:

Good Energy Group PLC Juliet Davenport, Chief Executive Charles Parry, Investor Relations	Tel: [phone]
Investec Bank plc (Nominated Adviser) Jeremy Ellis Sara Hale	Tel: [phone]
Walbrook (Financial PR) Paul Cornelius Nick Rome	Tel: [phone]

Notes to editors:

About Good Energy www.goodenergy.co.uk

Good Energy was founded in 1999 by Juliet Davenport OBE with the ambition to tackle climate change by generating and investing in renewable energy. Its purpose is to power the choice of a cleaner, greener future together with its customers, employees and investors.

 Since it started, the company has been supplying clean power, sourced from its own generation assets as well as from independent, UK-based renewable generators. Good Energy also pioneered a more localised approach to energy by supporting home generation, launching the HomeGen scheme in 2004, which became the blueprint for the Feed-in Tariff.

Today, it continues to support and invest in localised energy generation, as the only UK energy company with more home-generation customers than supply. From using digital innovation to help UK households and businesses manage their energy usage more efficiently, to empowering more people to generate, store and share clean power, it is leading the charge towards a cleaner, distributed energy system.

 

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