Half-year profits have soared by 67% at Good Energy, the Chippenham-based renewable power firm, as more customers join it from the Big Six utility firms.
Customer numbers shot up by more than a third during the six months to June 30, lifting revenues by 46% to £32.6m. As a result, pre-tax profits came in more than two thirds higher at £500,000. 
The pioneering firm is now looking to achieve a fivefold increase in customer numbers from a total of 176,500 in June to around 900,000 at the end of 2020.
In the first half of this year electricity customer numbers increased by 20% to around 55,000 and gas customers rose by 40% to 28,000.
The firm also built on its commitment to generate its own renewable energy, completing four solar farms with a total combined capacity of 23MW.
Two additional 5MW sites are due to be completed during the final quarter of the year, which will bring the Good Energy’s total installed solar capacity to 40MW by December 31.
It said output from its two wind farms, which have a combined 17.5MW capacity, was higher than anticipated.
Chief executive Juliet Davenport OBE said: “We’re delighted to report good customer growth as more consumers turn to us for renewable electricity. To meet this increasing demand, we continue to invest in our generation capacity.
“We look forward to making further progress in the remainder of the year and, with a renewed strategy for growth in place, we have every confidence that Good Energy will successfully help tackle climate change and make the UK more energy self-sufficient, for the benefit of consumers and shareholders alike, for years to come.
“The outlook for both the supply and generation businesses remains in line with expectations.
“Our recent success in winning the Big Deal competitive switch initiative is very positive news and will boost customer numbers. This is a further demonstration of Good Energy’s appeal to the wider domestic customer base and an important step forward towards our growth strategy.”
