Third party intermediaries TPI services what your business needs to know;
– Can be operated as businesses across all areas of procurement for businesses.
– Business can operate as Third-Party Intermediaries TPI as long as they abide by the TPI Agreement set by Ofgem. Not be confused with businesses who do not abide by the Utility TPI Ofgem Agreement.
– From May 2018, Ofgem made the decision that all Comparison Websites no longer need to show the Whole of Market (WoM), and which utility provides are paying comparison sites money to put forward their prices, and rates as the best available. The document is here: https://tinyurl.com/ybcyqv9y
Energy4 disagrees with the action of Ofgem. Energy4 will continue since its inception in 2013, to provide independent, impartial, evidenced-based, Whole of Market (WoM) transparent, non-biased utility information from 40+ utility providers.
Important questions to ask a TPI before you consider using their services
What your business needs to know when paying for a Third-party intermediaries
Either a direct charge paid by you to them (e.g. a flat fee, a commission per trade made on your behalf) or indirectly payments.
The TPI receives a payment from the supplier, which is added to your bill. Below is an illustrative example using simple figures to aid understanding:
Basic cost of energy 10p/kWh > TPI commission 1p/ kWh > Your bill shows 11p/kWh (paid to supplier) > Supplier passes 1p/kWh to TPI e.g. consumption 50,000 kWh/ annum, TPI receives £500
The following Third-Party Intermediaries service information that was originally created by Ofgem and the now gone TPI services.
Energy4 operates non-biased, transparent, whole-of-market quotes, with no commercial control by specific suppliers.
Third-Party Intermediaries: What your small business needs to know
Third-party intermediaries (TPIs) are organisations or individuals that give energy-related advice, aimed at helping you to buy energy and manage your energy needs.
– TPIs include switching sites, energy brokers and any company that offers support with energy procurement.
– Whether you approach a TPI directly or they contact you, you should not feel under pressure to use their services.
– Your energy supply contract will always be with an energy supplier: the TPI does not supply your energy.
– A TPI can support you when getting a business energy quotation as the process is different from getting a quotation for your home.
• There are very few published prices in the business market and you need to contact suppliers to obtain a quotation.
• There is no obligation to supply you – a supplier may determine which customers they choose to provide by factors such as the size of supply or your credit rating.
Energy4 follows the principles and professional behaviour standards of Ofgem and the TPI Programme
Identify yourself, the services being offered, and any organisations you represent (directly and indirectly) clearly at the start of any interaction with a customer and obtain their consent before any marketing.
Must at all times respect the consumer’s wishes and should cease the current contact and avoid future contact if the customer requests
You should make the customer aware of how much of the market you searched to obtain the offers you propose to them and ensure all requests are accurately presented.
Before obtaining their agreement to the contract, you should make the customer aware of all principal terms of the energy contract, including the services you provide and how the customer will pay (directly or indirectly) for those services.
Record and investigate all complaints fully and act quickly to put things right when you make a mistake
Should ensure staff are adequately trained for dealing with customers and adhere to these principles
Energy Price Comparison services of Energy4 help to identify the Whole-of-market (WoM) prices available for the business customer.
We are offering non-biased transparency to benefit the business customer, not the energy supplier. Energy4 provides advice and products to assist with a range of functions including energy procurement, efficiency and management.
Energy4 follows the original Ofgem Third Party Intermediaries (TPI) Programme of providing Whole-of-market information to the business customer, identified in the WoM Requirement, and the Confidence Code.
Therefore Price Comparison Websites and Businesses are no longer legally required by Ofgem to provide Whole-of-Market and follow any Confidence Code.
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