Good Energy’s profits hit by warm weather
WARM weather last year pushed Good Energy’s profits down by 33 per cent to £2.2m, the renewable energy supplier said yesterday, as customers delayed switching on their heating.
But the firm, which now operates two solar farms, continued to recruit new customers – with 34 per cent growth during the year.
Revenues for the 12 months to 31 December climbed by 43 per cent to £40.4m.
Chief executive Juliet Davenport said: “Although 2014 proved to be the warmest year on record, with a resulting reduction in customer energy usage in line with the wider market, we none the less saw healthy customer growth with overall numbers up 34 per cent. As such, we are confident that we are well positioned to respond and adapt to further changes in the market place and to continue to deliver growth.”
She added that Good Energy continued to invest in customer service excellence and “in our growing generation portfolio, and have secured the funding required for the next phase of our growth strategy”.