Clean energy utility Good Energy has said it is to streamline its business in order to pursue new smart energy technologies such as electric vehicles and storage.
The firm has also come to the conclusion that it would be “more appropriate” for it to target more sustainable, profitable growth and enhanced customer service rather than customer meter points, having also noted the volatile conditions in the UK energy supply market of late.
In December Good said that it was witnessing “exceptional volatility” in the short term power market and it was facing a “more challenging” winter period that could impact on earnings.
While Good went on to deliver profits before tax of £1.4 million – in line with market expectations – it has still taken the decision to “streamline” its business to reduce its cost base. David Brooks, who heads up Good’s supply division, will leave in early April and there will also be a reduction in size of its development team.
Instead Good will prioritise growth in its supply division and look into bolting on new smart energy offerings for its customers, particularly battery storage solutions and electric vehicle infrastructure.
It highlighted these technologies as particularly interesting areas for growth in the business and will specifically look at introducing its business customer base – a significant area of growth for Good in 2016 – to C&I battery applications.
Central to Good’s vision for its supply business is a recent overhaul of its customer system. The next phase will be implemented throughout the coming year and the company said once operational it will allow it to “enhance our customer experience, offer innovative tariffs… and drive internal efficiencies”.
While Good did not embellish on those innovative tariffs, it also suggested that the company would be well placed to “provide personalisation” to its different customer segments and “develop tech savvy propositions” for all customers.
Late last year Good offered a full commercial launch to Selectricity, the product formerly known as Piclo which it developed alongside Open Utility, which pairs businesses with local renewable generators, allowing them to create bespoke supply portfolios to match their usage patterns.