Three questions you should ask your TPI before signing the contract
Three questionsTo help choose the best TPI for your business, start by asking these three questions.
Which suppliers do you represent?Some TPIs only represent one supplier or a small group of suppliers. This significantly restricts your procurement options and makes it unlikely that you will get the best deal. Your TPI should visit as many suppliers as possible during tendering. At Utility Helpline, we visit dozens of energy companies in our five step procurement process. We only ever discount an energy supplier from our search if there is a very good reason for doing so, like we believe that they won't do a good job of looking after our customers.
How are your services paid for?Different TPIs charge in different ways. Some prefer a one-off fee while other will include a commission at a rate offered to you from the supplier. If the TPI works on a performance related payment system then you should check that their target payments are reasonable and will not end up costing you more. There is no 'best' way to secure payment. What matters is what works best for your organisation and what you're goals are.
Are you subscribed to the TPI Code of PracticeThe TPI Code of Practice is the benchmark standard that all high quality TPIs should meet. The code lays out a number of roles and responsibilities that intermediaries must meet if they want to maintain their place in the register. Utility Helpline is proud to participate in the scheme.
But don't let this put you off using a brokerThere is a lot of doom and gloom in this post. But don't let that put you off using an energy broker. There are a number of advantages to using a TPI.
- Few business energy prices are written down and a TPI will help you contact dozens of suppliers to get the best quote.
- Brokers have good industry links and know where to get the best deals
- They can also tell you which suppliers are good for certain things and help tailor an energy contract around your needs.
- Good TPIs will make themselves available to offer purchasing advice whenever it is required.
Published by Utility Helpline on (modified )
Wholesale Energy Prices Update 15/01/2021
Targeted Charging Review
Wholesale Energy Prices Update 01/01/2021
Wholesale Energy Prices Update 18/12/2020
Wholesale Energy Prices Update 11/12/2020