25.03.2021 | Portuguese subsidiary Goldenergy chosen by consumers for top award

Axpo voted Portugal’s best 100% renewable energy supplier

Axpo’s Portuguese subsidiary Goldenergy was recently chosen by consumers as Portugal’s best 100% green energy supplier for private customers. But winning the Consumer Choice seal in the ‘100% Renewable Energy’ category is just the latest achievement in Goldenergy’s success story.

Axpo’s subsidiary Goldenergy is the only business-to-consumer (B2C) energy supplier in Portugal to exclusively sell green energy. Every megawatt hour of electricity that Goldenergy provides to Portuguese households has a guarantee of origin and comes from energy produced by the power of sun, wind or water. And private customers in the country seem to appreciate what they get from the company.

Miguel Rodríguez Checa, CEO of Goldenergy, commented: “We are very proud to receive the Consumer Choice seal in the ‘100% Renewable Energy’ category. This is a great honour and shows that Goldenergy is clearly recognised by our customers as a 100% green energy supplier. In addition to being one of the most sustainable companies in Portugal, Goldenergy also contributes to the financial sustainability of families, setting fairer prices in the market, promoting savings, and protecting the environment.”

Miguel Checa, CEO Goldenergy

The story of Axpo and Goldenergy began in the autumn of 2015 when Axpo purchased 25% of the Portuguese energy supplier, strengthening the company’s position in the country. Goldenergy supplies electricity and gas to more than 300,000 points of supply, extending Axpo’s portfolio to not only large clients but also to SMEs, small or home based businesses, and residential customers. Three years later, in 2018, Axpo acquired the remaining 75% of Goldenergy, which then became part of the company’s international energy trading business. Although Goldenergy initially faced a couple of challenging years, it is an investment that has definitely proved to be a smart move for Axpo.

Continuous growth thanks to investments in digitisation

Goldenergy has experienced strong growth recently, increasing earnings before interest and taxes (EBIT) fivefold over the previous year. To improve customer experience, it has also invested in digital technologies, optimising operations and enhancing the capability of its sales channels. As a result, the company gained an additional 2.5% share of the B2C power market, representing more than 40% growth in the 2019/20 business year. In addition, Goldenergy’s improved customer service has contributed to the lowest number of customer complaints among the top five energy suppliers in Portugal.

Miguel Rodríguez Checa said: “The culmination of Goldenergy’s hard work can be seen clearly in this award. It also shows that people want a more sustainable way of life for the planet. This recognition from consumers further reinforces our conviction that our proposal to guarantee electricity at the best price and with a 100% green origin guarantee, is undoubtedly the right way.”

While there is still much to do in the years to come, Axpo will continue to play a leading role in the transition to a more sustainable energy future, both in Portugal and the rest of Europe. 

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