Years of regulatory tinkering left my company vulnerable. When gas shortages hit, its end was inevitable
- Andy Harris is a former chief information officer at Utility Point
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.
