Friday 16 May 2014

Ofgem pushes back deadline for energy consultants’ consultation

Energy brokers and consultants have a few more weeks to have their say on plans to regulate their business.

Yesterday Ofgem pushed back the deadline for views in its consultation on whether third party intermediaries (TPIs) – the middlemen between suppliers and customers – need a code of conduct or something stronger to keep them in line.

Businesses have until Monday 30 June 2014 to give Ofgem their opinion on regulating brokers and TPIs in the business-to-business sector.

Ofgem is proposing to make it a licence obligation for suppliers to only work with TPIs who are accredited to an industry-governed code of practice.

The aim is to protect businesses from unscrupulous practices such as hidden charges from brokers or consultants.

ELN began its own campaign on the issue last week – the TPI Code of Conduct Crusade - after it found many in the sector felt they had not had enough chance to add to the debate.

So far ELN has heard from businesses who say it is “obvious” suppliers should not be the ones to govern a new code of conduct, while others want more comprehensive regulation to keep an eye on past and current behaviour of each broker.

Brokers and TPIs can get in touch with ELN about what they’d like to see in the new regulation via forward.planning@energylivenews.com. We will share your views with Ofgem.

To send your consultation thoughts to Ofgem, email ThirdPartyIntermediaries@ofgem.gov.uk