(Alliance News) - Good Energy Group PLC on Wednesday said it has signed an agreement with Kraken Technologies Ltd, part of Octopus Group, for the provision of a new customer services technology platform.
The renewable electricity supplier said the Kraken system implementation and associated operating model transformation is expected to drive operating cost savings, customer experience benefits, and future growth. It will enable more people and more businesses to reduce their carbon footprint, Good Energy said.
Total forecast investment of GBP4 million into the platform will be split equally between cash and non-cash elements, Good Energy said. Operating cost savings are expected to provide payback of that investment within 18 months of the April 2020 full implementation.
The company said expected efficiency savings will be reinvested across the business, enhancing existing products, services and competitiveness.
Good Energy said it anticipates that the write down of existing systems and the cash investment into implementation and transition will be taken across 2019 and the first half of 2020 while relevant transformation provisions will be taken in 2019.
The agreement is in the form of an implementation and transition agreement and service contract for an initial term of three years, Good Energy noted.
"Kraken Technologies has developed a proven best in class customer services platform. This powerful combination of deep renewables expertise and customer friendly technology, will help us to realise our growth ambitions," said Good Energy Founder & Chief Executive Juliet Davenport.
"We will provide additional clean energy services to the growing number of homes and businesses who want to harness the power of renewables and clean technology, to make a difference to the quality of their lives, businesses and our planet," added Davenport.
Good Energy shares were trading 2.3% lower on Wednesday in London at 149.55 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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