Your Fact Guide to Third Party Intermediaries (TPIs)
We know that business energy can be confusing so we’ve written a guide to help you understand the facts about TPIs.
Who are TPIs?
TPIs, otherwise known as Third Party Intermediaries are organisations or individuals that offer energy related advice. This advice is aimed at helping you to buy and/or manage your energy needs. A TPI can be any company that offers support with energy procurement which can range from individual brokers to online switching sites.
The role of a TPI
TPIs are there to support you when getting business energy quotations as the process varies when compared to getting home energy quotations. There are a variety of reasons that the processes are different, including that:
- There generally isn’t a cooling-off period after you agree the contract even if agreed over the telephone rather than in writing
- The contracts are often longer than for residential properties so you need to fully understand the quote before you agree to it
PFP Energy work with multiple TPIs, here’s what you need to know
As explained before, there is a wide variety of TPIs which range from brokers to switching sites. Here at PFP we work closely with multiple TPIs to reach a range of customers so we want to be able to ensure that you have all the information you need. When working with a TPI you need to make sure that you are confident and happy that you understand everything you need to know. To do this, you should ask:
- How many price offers will you give me?
- Which suppliers will you be approaching?
- How will you help me to switch supplier?
- What services will you provide during the life of the contract?
- How will I be charged for the services and will this be charged directly or indirectly?
TPIs will be paid in one of two ways. A direct charge is where you pay the TPI directly (eg a flat fee, a charge per trade made on your behalf). An indirect charge is where the TPI receives payment from the supplier which is added to your bill.