Good Energy has seen its gross profit increase by 19.4% during the first six months of 2021, growing to £17.7 million.
Iberdrola has reported continued growth of its net profit to €3.61 billion in a year that saw over 90% of its investments injected into renewables and networks.
Higher network costs and the need to sell excess contracted power back has resulted in Good Energy’s gross profit taking a hit.
Green firms operating in the energy industry have higher profitability on average, with the sector able to provide a framework for hard to decarbonise industries.
Green supplier Good Energy has remained steady in 2019 as it continues its strategy of being more than a “passive” energy supplier.
Drax announces it is to eliminate coal from its generation from next year, as it unveils financial results for 2019.
National Grid has hit out at Ofgem’s proposals on grid works required for Hinkley Point C, warning they could harm investment in UK energy infrastructure.