Big Energy Group becomes first TPI to accede to RECCo’s Code of Practice

Following the conclusion of Ofgem’s Microbusiness Strategic review and a period of consultation, the Retail Energy Code Company (RECCo) have published the Third-Party Intermediary Code of Practice (TPI CoP) for non-domestic energy brokers and aggregators.

The TPI CoP has been developed following a series of workshops held with non-domestic brokers and suppliers earlier this year and subsequent engagement with both these groups, businesses and other interested parties.

Throughout the consultation there was a strong consensus on the need to improve governance arrangements for non-domestic energy brokers and aggregators. The TPI CoP is therefore designed to raise industry standards and govern the way non-domestic brokers and aggregators interact with clients.  

In publishing the new TPI CoP, RECCo have built upon the content of the draft Code of Practice initially developed by Ofgem in 2013, but not formally implemented, revising the principles where appropriate, including adding new principles relating to data protection.

The published TPI CoP now sets out principles covering:

• Transparency and accuracy
• Price and product
• Fair and appropriate selling
• Complaints handling and dispute resolution
• Data protection
• Training

The published version of the TPI CoP can be accessed here.

A recent ITV report alleged thousands of UK businesses were considering legal action over contracts arranged by energy brokers. The report highlighted than a minority of brokers had been charging hidden commissions and had not necessarily provided contracts suited to client needs.

Brokers and aggregators are not currently regulated by Ofgem which has enabled a small proportion of brokers to mislead clients. Clients utilising brokers signed up to the new TPI CoP can be confident that their broker will operate with transparency and integrity.

On 27 October 2023, Big Energy Group became the first UK broker to voluntarily accede to the new TPI CoP introduced by RECCo. Complementing our own robust service standards, our adoption of this voluntary code demonstrates our continued commitment to the client centric principles that have underpinned our growth since we were incepted.

Callum Swain, Commercial Director at Big Energy Group, commented “We are delighted to become the first broker to accede to RECCo’s TPI Code of Practice. It demonstrates our unwavering commitment to our clients and further strengthens our reputation as one of the UK’s most trusted energy brokers”.

It is widely accepted that brokers and aggregators, such as Big Energy Group, play a key role in helping business consumers find and secure better value energy contracts and services. They contribute to a competitive and modern energy market, and is it therefore hoped that the TPI CoP will elevate consumer confidence and improve governance in the non-domestic energy market.

About Big Energy Group

Big Energy Group is a privately held, British-owned energy brokerage with an established track record of helping clients successfully navigate the energy market. The company has offices in Harrogate and the Tees Valley and serves more than 400 businesses across the UK. For more information, please visit bigenergygroup.co.uk.