History of Good Energy Group PLC
Good Energy was founded in response to climate change, to transform the UK energy market. Its founder, Juliet Davenport, studied atmospheric physics at Oxford University and understood the impact of greenhouse gases on climate systems. Juliet went on to do a Masters’ Degree in economics and worked in the European parliament and European Commission on carbon and energy related policies.
Recognising that climate change was principally an energy problem – burning fossil fuels to generate energy accounts for 74% of manmade greenhouse gas emissions - her experience taught her that it was going to be very difficult to change the energy industry from the outside. A chance meeting in 1997 with a German entrepreneur at an EU Energy conference in Greece led to Juliet being asked to set up the UK arm of a pan-European company to develop the demand and supply of renewable energy across Europe; taking advantage of the recent liberalisation of the UK markets.
The idea was to empower individuals to make a difference to climate change by choosing to switch to a renewable electricity supply, and drive forward change in the energy market and grow the amount of renewables in the UK.
Owned by its customers
Changing priorities for European investors led to a management buyout in 2002 and a new name for the company, which became Monkton Group PLC in 2003, and later Good Energy Group PLC.
As CEO, Juliet led the company’s first share offering to its customers, over 500 of whom took up the opportunity to share ownership of the business. The proceeds of this first share offer were used to buy the UK’s first commercial wind farm in Delabole, Cornwall, and expand the business.
Four further share offers followed in 2004, 2007, 2013 and 2016.
The Group now has approximately 3,500 shareholders, of whom around two thirds are also its customers.
Innovation in the industry
Good Energy has a strong track record of innovation in the energy industry. Some key highlights are:
2017 - Announced our innovative battery storage pilot with the Eden Project
2016 - Launched our carbon neutral "green gas" offering for all customers and Selectricity for business customers
2015 - First UK energy supplier to accept a local currency - the Bristol Pound
2014 - Investment in the development of UK's first tidal lagoon and an option over 10% of the power it will generate
2013 - Launched the UK's first local tariff exclusively for the community around Delabole wind farm
2011 – Market-leading Feed-in Tariff administration business developed
2010 – Plan to add 50MW new onshore wind capacity launched with £11.8 million repower of Delabole wind farm, focusing on innovation and community generation
2009 – Good Energy Academy launched to develop best levels of customer service. We won the Which? Award for Best Energy Company in 2010 & 2012
2008 – Award-winning HotROCs scheme launched – the UK’s first renewable heat incentive
2004 – Award-winning HomeGen scheme launched, a precursor to the government Feed-in Tariff