Is this a U-turn for Three Sixty?
Yorkshire Water is understood to be overhauling its approach to the business retail market.
The company had applied to exit to its recently rebranded non household retail arm Three Sixty. The plan was for Three Sixty to both retain the custom of in-area businesses and to actively acquire new customers out of area.
However Richard Hudson, energy procurement manager for local public sector purchasing organisation YPO, told THE WATER REPORT that his team had been briefed that Yorkshire is now not planning not to exit. He reported that the company said it plans to conduct its business retail operations in two separate segments: in area customers will be supplied by Yorkshire Water Business Services, while Three Sixty will serve others (though is not expected to be ambitious in acquisition).
Hudson said YPO had been told problems with working capital were behind the U-turn.
A spokesman for Three Sixty confirmed a restructuring is underway, but declined to provide details at this time. These latest developments follow the departure of Robert Marrill in December – the managing director who launched the Three Sixty brand in September 2016.