With the energy rumour mill currently suggesting that a review of the UK’s energy brokers could be imminent, we explain why would welcome such a move. Love Energy Savings has always been an energy comparison site that has promoted transparency and fairness and as such, we think this latest move by Ofgem could see many of the cowboys removed from our industry.
Although it is by no means definite that a list of the good and the bad energy brokers will be published, much of the energy press are suggesting that this could well be on the cards. The issue hadbeen the subject of focus at Ofgem’s working party which was designed to establish how energy brokers and third party intermediaries (TPI’s) could be spurred to improve.
It was agreed at the meeting that it would be in the interests of the energy market to publish a list of accredited third party intermediaries and that this would be available for customers to see online. Whether or not the worst brokers would be named and shamed was less clear, but the fact that consumers will be able to see the top performers is music to the ears of the team here at Love Energy Savings.
Official TPI Body?
It has also been suggested that any energy brokers suspended from the code or no longer accredited should be placed on a separate register, although this seems at present to have less backing. However, the number of complaints against TPI’s being published as well as an official body for complaints to be registered to, were deemed as appropriate plans of action.
The watchdog was careful to point out that, if published, the number of complaints would need to be revealed along with context as to how much business the TPI in question has been doing. Each TPI would have a unique identifier which would be accessible to the broker, energy suppliers and the code administrator; this would help to effectively with any issues that should arise.
Here at Love Energy Savings, we pride ourselves not only on the great energy prices we can secure for your home or business, but also the open way in which we conduct our business. This is why we feel that should these measures be approved, they could not come soon enough. Our ethos is to “create a big difference by making life easier” and this ties into the TPI code perfectly. You can read more about our commitment to the code by clicking here.
As well as having an unwavering commitment to being one of the good guys in a somewhat turbulent industry, we are thought leaders at Love Energy Savings. We publish some of the best insight the market has to offer via this very blog and also have an ever popular Help Centre. This is full of useful guides about everything from fracking and energy efficiency to understanding your bill and green energy. Be sure to take a look and get in touch with us today with a view to switching your home or business to a better tariff in no time!