Good Energy profit plumments 92 per cent

Good Energy has reported a 92 per cent drop in its pre tax profit for the year ending December 2015, following the sale of West Raynham solar park.

Good Energy chief executive Juliet DavenportGood Energy chief executive Juliet Davenport

The company said the performance was in line with expectations, highlighting that revenue grew by 12 per cent over the period, driven by customer growth which was up 44 per cent, and increased revenue from the company’s generation business of which the total output was 83 per cent higher than in 2014.

Good Energy chief executive Juliet Davenport said: “Good Energy has seen significant growth in the last 12 months. It has continued to deliver against its strategic business plan – investing in systems and assets, and driving growth across all sectors of its customer base.

“At the same time the company has demonstrated high levels of flexibility and nimbleness in adapting its business approach to reflect the changes in government energy policy, successfully delivering growth against this challenging back drop.”

The firm announced in September 2015 that it would be reviewing its ongoing strategy on asset development, improving efficiency and investing in technology because of the changes in UK renewable energy policy.

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