Ofwat has opened a consultation to collect views and opinions in regards to its TPI code of practice principles.
Ofwat, the body which regulates water and sewage providers is collecting views and opinions for its proposed principles for voluntary codes of conduct for third party intermediaries (TPIs) ahead of the opening of the business water retail market; the consultation is open until the 7th of March.
From April, 1.2 million businesses and organisations in England will be able to change their water provider in order to secure the best deal.
A lot of these organisations will seek the services of a broker to assist them in choosing the right supplier and improve their waste water management. The TPI code of practice will be established to prevent any malpractice and poor service, ensuring the market functions successfully and customers are protected.
As a UIA accredited broker, Apollo Energy can assure its customers of a high quality service with the welfare of its clients in mind.
Ofwat believes that by agreeing to a voluntary code of practice, TPIs, such as brokers will have “the opportunity to demonstrate to business customers that they offer the same commitments on customer protection as licensed retailers”.
Richard Khaldi, Ofwat Senior Director said: “The use of third party intermediaries is a key opportunity for customers to engage through a forum they already use for other services and to potentially benefit from multi-utility offerings. While many TPIs offer valuable services to business customers and will play an important part in the new water market, there have been concerns about the way some TPIs have operated in other markets, such as energy.
“We want there to be some form of protection in place for customers to minimise the chances of them being mis-sold and ensure people have access to complete and accurate information.”
These new principles follow the Customer Protection Code of Practice which was published last year, stating the minimum standards that all retailers must comply with when dealing with its business customers.