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    GOOD   GB0033600353

GOOD ENERGY GROUP PLC

(GOOD)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/21 11:35:23 am
295 GBX   +1.72%
10/21GOOD ENERGY GROUP PLC : Ex-dividend day for optional dividend
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

More UK Energy Suppliers Are Expected to Fail, But Government Won't Bail Them Out

09/23/2021 | 08:53am EDT

By Jaime Llinares Taboada

The U.K. energy minister said Thursday that more energy suppliers might fail in the coming weeks, and that the government won't rescue them.

The government would like a competitive energy market which can deliver choice and lower prices, Kwasi Kwarteng said in an oral statement to parliament.

"The solution to this crisis will be found from the industry and the market--as is already happening, and government, I repeat, will not be bailing out failed energy companies," he said.

Rising energy prices are inflating costs for energy retailers and sending ill-prepared companies out of business. Power prices in Europe are heavily influenced by gas prices, which have increased this year amid a global shortage.

In recent weeks, at least seven U.K. energy retailers with a combined customer base of over 1.5 million have ceased operating. The largest is Avro Energy, which supplies gas and power to 580,000 households.

Mr. Kwarteng also said the country's energy price cap will remain in place. This system protects millions of customers against market volatility, setting fixed maximum prices over six-month periods. But analysts are expecting that the price cap will rise strongly when it is revised again. Jenny Ping from Citi estimates it will increase by 21% to 1,541 pounds ($2,099) in the summer period starting in April. It has already risen by 12% this winter, to GBP1,277.

Things could worsen if the weather is unseasonably cold this winter, which would send global gas and consequently electricity prices even higher.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

09-23-21 0852ET

Stocks mentioned in the article
ChangeLast1st jan.
CENTRICA PLC -1.26% 59.46 Delayed Quote.27.60%
E.ON SE 0.48% 10.852 Delayed Quote.19.73%
ELECTRICITÉ DE FRANCE -1.81% 12.725 Real-time Quote.-1.32%
GOOD ENERGY GROUP PLC 1.72% 295 Delayed Quote.65.73%
IBERDROLA, S.A. -0.83% 9.752 Delayed Quote.-16.65%
ROYAL DUTCH SHELL PLC -1.60% 20.94 Real-time Quote.43.29%
TELECOM PLUS PLC 0.32% 1244 Delayed Quote.-13.25%
WTI -0.39% 81.988 Delayed Quote.71.24%
All news about GOOD ENERGY GROUP PLC
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More news
Financials
Sales 2021 137 M 189 M 189 M
Net income 2021 2,50 M 3,45 M 3,45 M
Net Debt 2021 35,4 M 48,8 M 48,8 M
P/E ratio 2021 20,1x
Yield 2021 1,05%
Capitalization 48,5 M 67,0 M 66,9 M
EV / Sales 2021 0,61x
EV / Sales 2022 0,57x
Nbr of Employees 269
Free-Float 40,6%
Chart GOOD ENERGY GROUP PLC
Duration : Period :
Good Energy Group PLC Technical Analysis Chart | GOOD | GB0033600353 | MarketScreener
Technical analysis trends GOOD ENERGY GROUP PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 295,00 GBX
Average target price 437,50 GBX
Spread / Average Target 48,3%
EPS Revisions
Managers and Directors
Nigel Pocklington Chief Executive Officer & Director
Rupert Sanderson Chief Financial Officer & Executive Director
William Elliot Whitehorn Chairman
Emma N. Tinker Independent Non-Executive Director
Timothy Jones Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
GOOD ENERGY GROUP PLC65.73%67
NEXTERA ENERGY8.63%164 631
ENEL S.P.A.-12.88%85 313
DUKE ENERGY CORPORATION12.49%78 649
IBERDROLA, S.A.-16.65%70 713
SOUTHERN COMPANY3.71%67 458