Energy and Utility Management Consultants

Ofgem continue to develop TPI code of practice

March 2014

 

Ofgem, the regulator for electricity and gas markets in the UK, has released a second consultation on the regulation of non-domestic Third Party Intermediaries (TPIs). This relates to Ofgems proposed Code of Practise for TPIs, which is on course to become part of the supplier licence and would mean that suppliers could only deal with accredited utility consultants and brokers. The aim of the Code of Practice is to increase transparency, enhance competition and raise standards of service amongst TPIs. Amongst other issues, the code is expected to address the levels of commission which TPIs can apply on top of contract rates, and ensuring that the customer has agreed to pay this commission.

Clifford Talbot recently started managing a property where recharges had been produced by another utility consultant. We discovered that the previous consultant had made numerous mistakes with the recharges, which had resulted in significant overcharges to the tenant. In one example a gas bill had been overcharged by more than 58% - luckily we had been appointed because the tenant was considering moving premises as a result of the increases in costs, as a result of these mistakes.

Offering far more than a typical Energy Broker, Clifford Talbot Partnership have steady working relationships with all reliable electricity and gas suppliers, and we systematically review all of their terms and conditions for any discrete changes that they might apply. As we are able to provide a full Bill Management and Validation service, we can easily identify any additional charges and advise best ways of avoiding them in the future. Contact us today for advice on your own Energy Management and take advantage of our expertise in Utility Management and Consultancy.

Wholesale Market Price Update – 20th March 2014

Since the major energy price spike 2 weeks ago, caused by the escalation of events in Crimea, electricity and gas wholesale prices have shown a high level of volatility. Overall, short term prices have followed a slightly downward trend, notably since the referendum at the weekend which was largely peaceful. Oil prices have fallen in response to healthy US supplies and data which suggests a slowing Chinese economy, as have coal prices due to an increase in Colombian exports. The situation in Crimea is expected to continue exerting a strong influence on gas prices, with fears that Russia may reduce gas supplies in Europe. However, this trade has huge economic importance to Russia and so is considered unlikely, particularly considering the current record high levels of gas storage in Europe.

http://www.cliffordtalbot.co.uk/energy-prices

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