How the Good Energy FiT payment process works
Payments made to generators who are registered on the Feed-in Tariff are managed by their FiT supplier - if you have FiT with Good Energy, that’s us!
Here’s how it works:
- We collect your generation data: We send a reminder to all our FiT customers to submit their quarterly meter reading before the end of each quarter – that’s March, June, September and December. We’ll check the reading you’ve given us against what we expect for the generation system and get in touch directly if we need to.
- We submit a payment claim: We’ll make a payment claim – this is also known as a ‘levelisation’ claim – on our FiT customer’s behalf to a fund managed centrally by Ofgem. The deadline to submit this claim is usually around two weeks after the end of the quarter.
- Ofgem invoices us: Ofgem invoices us, the FiT supplier, for our share of the cost of these payments. All energy suppliers have to pay a contribution into the fund proportionate to their share of UK electricity customers. This usually happens around four weeks after the end of the quarter.
- Ofgem pays us: After this, they’ll send payments for suppliers that we pass on to our FiT generators. This usually happens around six weeks after the end of each quarter.
- We pay you - our FIT generators: It’s then over to us to process the FiT payments from Ofgem and pass the payments on to our FiT customers. This usually takes place around eight weeks after the end of each quarter.
Here is a handy diagram to help visualise the process:
Good Energy's FiT payment timetable
|Quarterly period||Generator meter reading
|Ofgem pays Good
|Good Energy pays
|1 April - 30 June 2017||20 June 2017||15 August 2017||Around 2 weeks later*|
|1 July - 30 Sept 2017||20 Sept 2017||14 Nov 2017||Around 2 weeks later*|
|1 Oct - 31 Dec 2017||20 Dec 2017||14 Feb 2017||Around 2 weeks later*|
|1 Jan - 31 March 2018||23 March 2018||17 May 2018||Around 2 weeks later*|
* We will pay you as soon as we can, but this date might change depending on when we receive funds from Ofgem
For more information about our payment process, please see our Frequently Asked Questions.
Important information for existing FiT customers:
In order to process your FiT payments we need your bank details. If you haven’t already given us your bank details, please contact our customer care team on 0800 254 0000.
If we don’t have your bank details, your FiT payment may be delayed.
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