Message from Nic
Hi all
It’s fair to say the past few months have felt like a bit of a tsunami. We’ve had a significant amount of people changes and financial pressures which have probably felt like a lot to take in.
I fully appreciate this has created uncertainty at times, and I want to start by saying an enormous thank you for how you’ve all handled it. The resilience, patience, and determination you’ve shown has been incredible, and you have continued to deliver some fantastic successes whilst witnessing dramatic changes to the organisational leadership and layout around you.
As we move through October, the clocks are about to go back, the days are getting shorter, and we can all feel that winter is starting to bite. This is the time of year when our purpose as a business really comes to life — making homes warmer, more comfortable, and more energy efficient, especially when families need it most.
Rising energy costs and colder weather means the work we do matters more than ever. It’s a race against the clock to reach every customer, complete every install, and make sure we’re doing it safely, efficiently, and to the highest standards. This also means looking after ourselves and each other as we head into the winter months. Please take a few moments to check that your vehicles are roadworthy, carry emergency supplies, and that we’re all thinking about personal safety on site and on the roads. We owe it to our customers and to one another to stay alert, stay safe, and deliver to the standards we’re proud of.
On the business front, I want to offer reassurance. We’re resilient, we’re strong, and we’re building real momentum again. There’s no question we’re heading on an upward trajectory, and since some people have asked, yes, I’m fully committed to continuing this journey and building on the already extremely positive momentum!
We’ve refreshed our Executive Team to strengthen focus and leadership capacity. Both Oliver Cross (Chief Financial Officer) and Liam Pursall (Chief Development Officer) have now moved on, and I’m pleased to welcome Matt Clemow as interim CFO. Matt joins Ian Godsman (Chief Revenue Officer) and Bob Kerr (Chief Operations Officer) on the Residential Board, alongside James Price (Commercial Director), Jamie Godsell (Engineering Director) and Nigel Sankey (Operations Director) on the Commercial Board. Together, we form the new Executive Group Board with a clear plan for the next phase of growth.
I can’t emphasise enough how critical the next few months are. Between now and the end of January, we all need to be on our A-game – pushing hard to deliver for our customers, generate cash, and keep tight control of costs. I strongly believe we’ve now got the right structure, leadership, and resources in place to do exactly that.
We’ve made huge progress on creditor positions thanks to everyone’s hard work, but we’re not finished yet. I must stress that we do face limited funding budgets as well as stretched payment terms from utility partners for the remainder of the year so it’s vital we stay disciplined – watching every penny, managing stock tightly, keeping the WIP down to minimum levels, and ensuring every completed install is invoiced quickly.
On a brighter note, we’ve had some excellent news from Octopus Energy – we’ve re-signed a direct funding contract for both ECO and GBIS, securing a strong finish to the current scheme ahead of ECO5 or any ECO4 extension. British Gas have also shown great support for next year, and we’re working with them on a broader 2026 contract beyond the current GBIS agreement.
Our Commercial team continue to deliver impressive results, with new contract wins such as Cranfield already secured and more major projects on the horizon. Our internal Housing Association model is now fully up and running, strengthening our delivery channels and ensuring greater consistency whilst the EnergyWon team deserve huge credit for pushing hard on improving survey quality and reducing our reliance on external providers.
We’ve also made strong progress in the able-to-pay market, launching our solar quote engine under the Cotswold Energy brand — a key step towards introducing our Bundle proposition, which remains central to our plans for diversification and growth.
Finally, a special thank you to our Voids teams, who work tirelessly behind the scenes to deliver at short notice and always step up when needed – your efforts never go unnoticed.
A brief update on our ongoing search for investment. The great news is we’ve had strong interest from potential partners and we’re still in talks with several of them. However, as of right now, we haven’t found the one that’s the right fit for our values and long-term vision. We’ll continue those conversations carefully and strategically; what matters most is choosing the partner that will strengthen, not distract from, what we’re building.
If you haven’t already, please take a moment to read our latest newsletter which also includes a link to an additional video message from me – something I’m hoping to do monthly. This celebrates the incredible progress we’ve made despite the challenges, as well as highlighting our key successes. From our ISO and imminent MCS accreditations, to new salesforce systems which have been meticulously worked on in the background for everyone’s benefit, new initiatives, and the positive cultural shifts we’re embedding – there’s a lot to be proud of.
Achieving MCS accreditation is an important step in launching our able-to-pay proposition, Bundle, to the wider market. It reinforces our credibility and gives customers confidence that we’ll deliver the quality they expect.
Finally, a personal thank you from me. This summer has tested us all, but it’s also shown the strength of our greatest asset – you. I’m proud of the team we’ve built and excited for what’s ahead. My door is always open for anyone who’d like a chat – open, honest conversations help everyone feel connected and informed, so just speak to your line manager to book some time with me.
Let’s keep our heads high, our focus sharp, and finish this year stronger than ever.
Warm regards,
Nic Gillanders
Group CEO