Ecotricity Acquires 6.8% Stake In Competitor Good Energy

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The UK-based renewable energy utility firm Ecotricity has acquired a 6.8% stake in its competitor Good Energy, according to recent reports.

The 6.8%–stake acquisition — which appears to have taken place sometime during the first 2–3 months of 2016 — means that Ecotricity is now the second-biggest shareholder in Good Energy. News of the deal first appeared on Good Energy’s website back in mid-March.

ecotricity-windmill

Notably, the news means that Ecotricity now actually holds a bigger stake in Good Energy than even the company’s founder and CEO Juliet Davenport does (a 4% stake).

The investment comes right around the same time as Legal and General Investment has cut its investment in Good Energy to less than 3% (the cutoff point for listed investors) — down from 6.82% at the end of December 2015.

A Good Energy spokesperson spoke to Business Green and noted: “In line with Alternative Investment Market rules, on March 16 2016 we announced that Ecotricity notified us that they had purchased 6.82% of Good Energy shares,” he told BusinessGreen. “Good Energy Group is rated as a ‘buy’ by the four analysts that follow Good Energy — Cantor Fitzgerald, Investec, Alpha Deal Group, and Arden — so it doesn’t surprise us that investors are buying shares.”

While Ecotricity reps publicly declined to comment, it appears that there are no plans for a takeover bid of any kind, according to unnamed sources.

It’s worth mentioning here that the two firms have publicly traded a number of barbs in recent years. With Good Energy reps even announcing as recently as April “plans to challenge Ecotricity’s claim that it supplies ‘Britain’s greenest energy’.”


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James Ayre

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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