Greater transparency is needed for business energy customers

posted by 3 years ago in News

Small and medium sized businesses are paying a high price for not being clearly enough informed about the energy switching process, according to a new report by Love Energy Savings (LES).

They are demanding greater transparency for business energy customers when it comes to securing cheaper prices and being treated fairly by suppliers and third party intermediaries (TPIs).

The new report ‘Greater Transparency in the UK TPI Sector’ aims to guide businesses on what to look out for in a trustworthy TPI and outlines the benefits that come with using one. LES highlight that on average, SMEs can save £1,386 on their annual energy bill by using a TPI.

Factors for businesses to look out for when choosing a TPI to help them save on energy include:

  • Transparency

Particularly regarding fee structure and business practice.

  • Price comparison

They should allow you to access key pricing information without obligation.

  • TPI Code of Practice

This lays out a code of conduct for TPIs and should be referred to by them.

  • Media profile

The breadth and quality of coverage will indicate whether they are a figure of authority in the industry.

Check out the LES infographic below:

love energy wp infographic_blog