Member Article

Ofgem urged to embrace commercial energy regulation ideas

Energy supplier BES has given its support to E.ON’s proposals for regulation of the commercial energy supply.

‘Third Party Intermediary (TPI) Code of Practice for Micro-businesses’, E.ON’s new industry standards for energy sales, facilitates the contract between small businesses and suppliers and helping them to secure the best deal.

BES believes such a code is long overdue within the industry, and believes only the weight of one of the big six energy suppliers could fully achieve effective regulation.

The organisation also feels that a supplier and not a broker-funded initiative is the only sensible way forward for the industry’s regulation and an independently-managed Code of Practice is essential for an industry in which suggestions of mis-selling are prevalent.

Andy Pilley, managing director at BES, said: “The E.ON draft TPI Code of Practice is all-encompassing in its scope and addresses key areas of concern within the commercial energy supply sector.

“Its robust recommendations would make the industry far more transparent, effective and ethical, but more importantly, would have relevance as a code, if adopted by the majority of suppliers in the industry and a critical mass in terms of both market share and numbers.

“Suppliers need to be taking the lead on regulation and encouraging brokers to upskill, recognise their responsibilities when dealing with customers and maintain better records and systems. We commend E.ON for grasping the nettle of regulation and acting on behalf of the industry and its public image and reputation.”

BES urges Ofgem to embrace E.ON’s recommendations and enable the industry to have meaningful regulation.

This was posted in Bdaily's Members' News section by Tom Keighley .