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Good Energy ‘90% hedged’ amid the energy crisis

Renewable electricity supplier Good Energy is 90% hedged for the next 12 months to help limit the firm’s exposure to soaring energy prices and volatility of the market.

However, the company said: “The business, like the sector at large given recent supplier exits, remains subject to a higher level of market risk.”

This year the UK has seen 12 companies exit the market causing change and disruption for more than two million customers.

Two weeks ago, the Wiltshire-based energy company has announced it will not take on customers of companies that go bust.

Good Energy which has around 250,000 customers recently increased prices for both domestic and business segments as a result of the everchanging current market conditions.

Nigel Pocklington, Chief Executive Officer of Good Energy, said: “Despite the recent volatility in wholesale energy prices, we remain positive on the long-term opportunity in our chosen markets. Recent electric vehicle sales data proves the acceleration of adoption and reinforces the scale of opportunity for Good Energy in this market.

“The challenges within the UK energy sector have been well documented, but with 20 years’ experience, we remain differentiated through strong governance, a prudent approach to risk management and a genuinely differentiated green product.

“Now that Ecotricity’s cash offer has lapsed, I am pleased to be re-starting the dividend for our loyal shareholders.”

Energy Live News
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