We are delighted to see the Government’s response today confirming plans to regulate Third Party Intermediaries (TPIs) in the retail energy market. This is a major and long-awaited step towards improving transparency, accountability, and fairness across the industry.
Under the new framework, Ofgem will take on the role of regulator for TPIs, giving it the authority to set rules, monitor compliance, investigate misconduct, and enforce penalties where necessary.
Key measures include:
- Mandatory registration and authorisation for all brokers and intermediaries arranging energy contracts.
- Enhanced protections for non-domestic customers, including SMEs and charities, with greater transparency on fees and practices.
- Stronger enforcement powers for Ofgem, including redress mechanisms, fines, and potential market exclusion for serious breaches.
- A level playing field that promotes fair competition and strengthens trust within the energy market.
This announcement is a huge step forward for our industry. Clearer regulation will help ensure that businesses receive fair, honest, and transparent advice and that rogue brokers are finally held to account.
Read the full Government response here