Consultation shows ‘strong support’ for TPI regulation

The Government said a consultation had shown strong support for direct regulation of third-party intermediaries (TPIs) in the retail energy market.

The consultation was launched in a bid to strengthen consumer protection and address concerns in areas including transparency, dispute resolution, and customer service.

There were 85 responses from stakeholders representing consumers, suppliers, the wider energy market and intermediaries themselves.

“Responses noted some, incremental, progress on long standing issues through voluntary codes of practice and supplier license conditions,” said the Government.

“However, responses agreed that the key risks of transparency, mis-selling, dispute resolution, support for vulnerable consumers and poor customer service remained.”

Responses were divided on their preferred model for regulation and there were also varied views on the correct scope of regulation, including any considerations or exclusions for smaller brokers.

The Government said it will continue to engage with stakeholders and intends to issue a full response to the consultation later this year.