CUB Publishes Response to Ofgem
Next year the energy market will be met with a code of conduct to ensure that all TPI (Third Party Intermediaries) are working to a code. This will allow customers to identify whichbrokers/consultants are accredited by Ofgem and who follow the TPI code. This will help to put an end to the confidence and trust issues of the past and protect consumers in the future.
What is to be expected from Ofgem’s new code?
The main objective of the code of conduct is: “protect the interests of non-domestic electricity and gas consumers and, in particular, ensure that consumers have confidence that when using a TPI, the TPI will act in a fair, honest, transparent, appropriate and professional manner and effectively assist them with their energy supply needs.” - Ofgem
This will ensure that TPIs are operating fairly and transparently within the market, to establish trust and honesty. This code of conduct will be nationwide and all TPIs should be part of this code, if not they may be subject to disciplinary action.
At CUB® we fully support the arrival of regulation and are actively involved in making sure that we are in line with Ofgem accreditation, prior to the go live date. Our response to Ofgem questions have been published on their website.
Read our full response on the Ofgem website here: CUB Response
Ofgem have specified Autumn 2015 as the date on which the code will be operational. This means that all TPIs need to prepare for the code of conduct’s enforcement.
Important Ofgem Dates
Phase 1 – Defining the framework
2013 – Spring 2014
Phase 2 – Setting up Phase
Autumn 2014 – Summer 2015
Phase 3 – Go Live Phase
Autumn/ Winter 2015