Fair pricing call issued to energy brokers

The Government and Ofgem have written to third-party intermediaries (TPIs) setting out their expectations on how consumers should be supported during the current energy price volatility.

In the letter they said the sharp rises in wholesale prices following the escalation of the conflict in the Middle East have caused concern among businesses households and businesses.

The letter recognises that value that energy brokers and other TPIs can provide but also sets out a “firm expectation that pricing remains fair, transparent and fully justifiable, reflecting genuine market conditions”.

Steps which the Government and Ofgem expects TPIs to take include reviewing training for staff, being clear with customers whether they are providing factual information or subjective advice, and considering their approach to commission.

“We know that many brokers and other TPIs will already be operating in line with these expectations,” stressed the letter.

“We would like to recognise and thank these members of the industry who have led the charge to improve standards through their own behaviour and through their contributions to voluntary codes of practice and other initiatives to establish best practice.”