Not-for-profit supplier Our Power stopped trading on 25th January 2019, joining the ever-growing pile of folded suppliers. The collapse has been blamed on a cashflow problem after the company was forced to replace their billing system in 2018 because their supplier was withdrawn from the market. This resulted in late billing which combined with volatile wholesale markets, and a price cap that made it more difficult for Our Power to acquire customers, created a serious solvency problem. It’s estimated that the Scottish government has lost nearly £10m in loans to the supplier.

There are also concerns elsewhere within the industry as business utilities consultancy Utilitywise appears to be on the rocks. After putting itself up for sale to raise funds, its stock market plummeted by two thirds. The company reports that it has been struggling with the new cap on the commissions it can charge, as well as problems with its legacy system.

What does this mean for the industry as a whole?

With increasing regulation, heightening fear in the industry, and new companies every month reminding us that the end could very well be near - how can the players of the future stay afloat?

Hear from Octopus Energy’s Chief Financial Officer about how they’re rising to the challenge of an uncertain future, and learn where you fit into a market that’s more conscious of its bottom line than ever before at Future of Utilities Summit 2019 on 26 & 27 March.