Most people know that Good Energy is unique because of our 100% renewable electricity fuel mix. It’s less well known that we are also largely owned by our customers – something we’re rather proud of, and a big point of difference with other energy companies.
Since Good Energy was first founded in 1999, we’ve always listened to what our customers want – and have made some key business decisions, like launching our award-winning Homegen product, in response to their feedback. So in 2002, when we decided to raise capital and launched our first public share offering, we were delighted that more than 600 of our customers bought shares in the company. The funds we raised enabled us to buy Delabole wind farm in Cornwall, and to further expand the business.
We made two further share offerings in 2004 and 2007, raising additional funds from the public and our growing customer base, with many customers coming back for a second bite of the cherry. This provided us with the buffer we needed to be able to grow the company to over 26,000 customers and travel the sometimes rocky road of trading renewable energy. Funds from the third share offering also provided much of the capital we needed to invest in redeveloping Delabole wind farm, to more than double its output.
To date we’ve raised £2.7 million through share offerings, and the Good Energy Group has around 1700 shareholders, some 90% of whom are also our customers.
Good Energy Group plc, is the holding company for Good Energy’s electricity and gas supply businesses, Good Energy Generation and Good Energy Shop. Ordinary shares in Good Energy Group are listed on Plus Markets.
We’re also investigating ways in which our existing customers and local communities will be able to participate financially in our new prospective wind farm developments. We’ll be making an announcement about this soon, so watch this space
Rewarding our shareholders
In December 2010 the Board decided to give our shareholders the good news that Good Energy Group would start paying dividends, and made a first payment of 2.5 pence per ordinary share. Our chairman, John Sellers, said: “As the company continues to go from strength to strength we feel the payments of dividends should be part of our natural evolution – and that our shareholders are entitled to a cash return for supporting our mission to help the UK achieve a 100% renewable future.”
Employee partnership
As well as offering our customers the chance to invest in our business, we also want to offer the same opportunities to our staff. So we’re planning to launch a Good Energy Employee Share Scheme, giving all permanent members of staff the ability to benefit from buying shares in the company. Our CEO, Juliet Davenport said: “Good Energy wouldn’t have achieved as much as we have without the hard work and commitment of our fantastic team. So it is only right that they should be able to share in the success of the company by being able to invest in it.”
Disclaimer: This article does not constitute any form of advice, recommendation or arrangement by Good Energy and is not intended to be relied upon by you in making any specific investment or other decisions. Appropriate advice should be obtained before making any such decision.
