Good Energy trading ahead of expectations

Chippenham-headquartered Good Energy Group PLC says it traded ahead of management expectations in the year to October end and expects its 2018 results to be in line with market expectations.

Good Energy said its performance was "slightly ahead" of management expectations and that it had experienced "continued strong cash generation" in the ten months to October 30.

Customer numbers stayed broadly flat, Good Energy said, while billing performance remained above 99 per cent. Customer debt and accrued income were maintained "at normalised levels".

Good Energy also said that its process improvements created "a significant increase in cash and cash equivalents" on a year-to-date basis.

Assuming normalised consumption and weather in the remaining two months of the year, Good Energy said it is expecting 2018 to deliver a financial performance in line with market expectations.

The energy company also noted that it now has a four-star rating on business review website Trustpilot.com.

"We are delighted with the continued progress of the business and delivery of our core strategic objectives. The investment in our customer services team is having an immediate impact, reflected by the significant increase in our Trustpilot score since the summer," said Good Energy Chief Executive Juliet Davenport.

"Despite the challenges facing the energy sector, we are excited to continue our progress into 2019 and beyond as we look to make clean energy the natural choice for the population," she added.