Good Energy unveils heavy hedging strategy

The energy supplier reported an increase in revenue which jumped to £107.6 million in the first half of the year

Big Zero Report 2022

Good Energy is well hedged for the coming winter months.

Revealing its half-yearly results, the company has said its supply business is well hedged for this winter having “incrementally hedged” throughout the year, a strategy that will continue next year.

The energy firm’s revenue increased by 57.4% to £107.6 million driven by price rises in response to rising wholesale costs.

As the funds were allocated towards boosting supplies, Good Energy posted a loss of £0.7 million for the first six months of the year.

Nigel Pocklington, Chief Executive Officer of Good Energy, said: “Over the past 12 months, the rising cost of energy, multiple supplier failures and everyday consumers having to pick up the bill only serves to highlight a greater need for renewables to play a vital role in our long-term energy strategy.

“Not only will a shift to cleaner, local electricity sources cut the UK’s carbon, it will cut the UK’s ties to fossil fuel driven global markets.”

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast