Good Energy Group PLC CMA to examine electric vehicle charging sector
December 03 2020 - 2:00AM
RNS Non-Regulatory
TIDMGOOD
Good Energy Group PLC
03 December 2020
Good Energy Group PLC
CMA to examine electric vehicle charging sector
Good Energy Group PLC, the 100% renewable electricity supplier
and innovative energy services provider ("Good Energy" or "the
Company) welcomes and acknowledges the Competition and Markets
Authority ("CMA") intention to launch a market study into electric
vehicle charging.
Good Energy recognises the importance of the electric vehicle
("EV") market as part of the UK's journey to net zero carbon.
Recent Government announcements have highlighted the shift to
emission free vehicles as a key component of its Ten-Point plan for
a Green Industrial Revolution. Not only will this require
significant investment in the sector, but also a fair and
competitive market to accelerate and support the mass adoption of
EVs by the public and business community.
The electrification of transport is a key pillar of Good
Energy's strategy, alongside electrification of heat and
flexibility services. By providing products and services in these
areas the Company aims to lead the transition to a distributed
energy market and the future of energy services.
Zap-Map, the UK's leading EV mapping service, launched Zap-Pay
in September, a new service that enables EV drivers to use a single
app to pay for charging across different networks. This service
provides an interoperable payment solution that helps to unlock the
charging infrastructure for EV drivers across the UK. Zap-Pay will
be rolled out across UK networks in 2021, providing unique and
unrivalled coverage across the whole country.
Zap-Map has been an integral part of EV market growth over
recent years. The launch of Zap-Pay builds on this success and
positions Zap-Map as a key market participant as we build towards a
transformed UK transport market.
Both Good Energy and Zap-Map will work with the CMA to provide
insight and expertise to assist in this study.
Juliet Davenport, CEO and Founder, Good Energy, and Chairman of
Zap - Map said:
"We welcome this announcement from the CMA. Electrification of
transport is crucial for the UK to achieve its climate goals.
Regulators and policy makers will play a crucial role both in
setting the tone in these fast-growing markets and to ensure
structural issues do not inhibit this transformative
opportunity.
Our investment in developing Zap-Pay has solved the problem
faced by EV drivers of having to use multiple cards or apps to
charge on different networks. Zap-Pay removes the hassle and
provides a seamless charging experience, which is crucial to mass
adoption. Now EV drivers can search, plan and pay all in one app.
However, more needs to be done to ensure that networks, companies
and regulators act in a joined-up fashion to deliver the best
experience for EV drivers as part of this transition. We welcome
this next step."
Enquiries:
Good Energy Group PLC Email: press@goodenergy.co.uk
Juliet Davenport, Chief Executive Phone: +44 (0) 7718 671003
Charles Parry, Investor Relations
Luke Bigwood, Communications
Investec Bank plc (Nominated Adviser Tel: +44 (0) 20 7597 5970
and Joint Broker )
Jeremy Ellis
Sara Hale
Canaccord Genuity (Joint Broker) Tel: +44 (0) 20 7523 4617
Henry Fitzgerald - O'Connor
Georgina McCooke
Notes to editors:
About Good Energy www.goodenergy.co.uk
Good Energy is a generator and supplier of 100% renewable power
and an innovator in energy services. It currently owns two wind
farms, six solar farms and sources electricity from a community of
1,600 independent UK generators.
Since it was founded 20 years ago, the company has been at the
forefront of the charge towards a cleaner, distributed energy
system. Its mission is to support UK households and businesses
generate, store and share clean power.
Good Energy is recognised as a leader in this market, through
our green kite accreditation with the London Stock Exchange and as
a top rated Green energy supplier by Which?.
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