Profits at Good Energy rise on customer gains

British electricity and gas supplier Good Energy nearly doubled core profits last year to 5 million pounds as it benefited from a row over energy prices charged by the country's biggest suppliers that led to customers switching providers. The Chippenham-based company, which is listed on London's Alternative Investment Market (AIM), attracted 14,500 new customers last year, allowing it to earn higher revenue and increase earnings before interest, tax, depreciation and amortisation (EBITDA) by 85 percent. Britain's six biggest energy suppliers came under fire last autumn when opposition leader Ed Miliband accused them of inflating prices, kicking off a political row over the cost of utility bills. The debate played into the hands of Britain's small energy suppliers, such as Good Energy, promising fairer tariffs and better customer service. Read More http://ift.tt/1oFZOEM