Good Energy doubles solar rate for customers

Good Energy Group PLC

22 August 2024

 

RNS REACH

22 August 2024

Good Energy Group PLC

("Good Energy" or the "Company")

Good Energy doubles exclusive solar export payments for customers

Good Energy Group PLC (AIM: GOOD), is pleased to announce that Good Energy Solar customers will now be able to access an exclusive 40p per kilowatt hour export tariff as the Company has doubled its Solar Savings Exclusive rate.

The new 40p per kilowatt hour rate, which is fixed for 12 months, is the highest export tariff rate available on the market and eligible for Good Energy customers who have installed a solar array and battery storage through Good Energy Solar, have a smart meter and are on one of Good Energy's supply tariffs. The announcement reinforces Good Energy's commitment to rewarding existing customers using multiple energy-saving products within the Good Energy ecosystem.

The rate could see a typical home with a 10-panel solar and storage installation effectively receiving free electricity after their bill reductions and export payments. Based on a typical household usage of 2700kWh and an annual electricity bill of £873, bills would be reduced to £293.52, and an annual export payment of £322.37 for 25% of generation would leave them in credit by £28.84. With 10 panel solar and storage installations from £10,500, this means customers could pay off more than 8% of the upfront costs in a year.

Tom Parsons, director of sales and origination at Good Energy, said: "Since Good Energy launched HomeGen - the first ever export tariff for UK homes with solar - 20 years ago, we have been committed to helping people to become generators of renewable power themselves. With this new export rate, we are continuing to help microgeneration make financial sense.

"Doubling what was already a competitive export tariff to match the best rates on the market shows exactly that - providing a one-stop solution for green-minded customers and offering a suite of products that help them simultaneously reduce carbon and save money. By focusing on multiple products and tariffs that work in tandem, we are working to incentivise customers to embark on a deeper and broader relationship with us and boost their overall lifetime value."

Enquiries

Good Energy Group PLC
Nigel Pocklington, Chief Executive Ian McKee, Head of Communications	Email: [e-mail]
SEC Newgate UK	Email: [e-mail]
Elisabeth Cowell / Molly Gretton	Tel: [phone]
Investec Bank plc (Nominated Adviser and Joint Broker)
Henry Reast / James Rudd	Tel: [phone]
Canaccord Genuity Limited (Joint Broker)
Henry Fitzgerald - O'Connor / Harry Rees	Tel: [phone]

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 more than 2,500 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 use by 2025.

Good Energy is recognised as a leader in this market, through its B Corp accreditation, Which? Eco Provider status and Gold Standard Uswitch Green Tariff Accreditation for all tariffs.

 

END