We are at a “pretty frightening moment” in energy supply:  that was the conclusion of Alistair Buchanan, previously chief executive of energy regulator Ofgem and now with consultant KPMG. Speaking at the annual conference of the British Institute for Energy Economics (BIEE) he reiterated a phrase from an Ofgem publication on the Strategic Balancing Reserve, of which it said “National Grid may [use it ] as a last resort after all the available options in the market have been exhausted. “That was a pretty frightening phrase; it’s a pretty frightening moment,” Buchanan said.