For years it’s been a wild, Wild West out in the energy market when it comes to brokers and TPIs – that’s third party intermediaries, don’t y’all know?
With little or no regulation, their numbers have swelled to around 1,000 at the latest count.
Some of these go-betweens for energy users and suppliers have respectably set up shop, nestled in next to the barber and the saddlery.
But other brokers have ranged on the outskirts, preying on smaller businesses who don’t know their way around energy charges – and making a fast buck on their ignorance.
These cowboys have long needed reining in – and finally Ofgem has offered up a code of practice for the sector. Energy suppliers won’t be able to do deals with anyone who isn’t a member.
The message from the sheriff is clear: get clean, or get out of town.
Blog: Yee-ha! The sheriff’s new crackdown on bad brokers begins