Britain’s energy supply is in crisis, and I can tell you why
I take no pleasure in saying to Ofgem, “I told you so.” Thanks to a perfect storm in the energy sector, many suppliers have been failing. But with all storms, you can see the clouds building first. Utility Point, the business I helped set up and build to one with more than 220,000 customers, was a victim of the regulators’ inaction.
What began in late spring 2021 as a search for strategic partnerships and investment to help us grow, quickly became, as the market deteriorated, a quest for funds to see us through a difficult winter. It wasn’t long before it became apparent that we were fighting for Utility Point’s survival.
The board held weekly meetings, to ensure we monitored our position and the market as closely as possible. It was when the
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