ElectraLink to launch TPICoP in summer 2019April 11, 2019
ElectraLink plans to launch a TPI Code of Practice (TPICoP) this summer, bringing together market participants with the shared goals of protecting consumers, supporting industry and facilitating innovation.
At ElectraLink Host: Energy, a market in transformation, our Engagement Day on Wednesday, 3 April, it became apparent that the need for TPI regulation has never been greater. During a panel session on protecting microbusinesses, a poll posed to attendees revealed that 58% of respondents felt that regulation needed to be introduced in the next 6-12 months, with only 12% of respondents believing a code of practice could wait up to 18 months to be implemented. ElectraLink Governance Services Specialist Consultant Mark Olliver chaired the panel session, accompanied by panellists Jonathan Blagrove from Ofgem, Elizabeth Errington from Citizens Advice and David Pilling from Ombudsman Services.
A separate poll saw 63% of respondents vote in favour of mandatory compliance to a TPICoP in the non-domestic market. 4% voted against mandatory compliance with the remainder expressing no opinion.
Microbusinesses find it challenging to fairly compare energy tariffs and identify true innovative tools to support their business needs. ElectraLink is working with suppliers, TPIs and regulators to develop and launch a TPICoP. We are investigating all opportunities to gain support from the majority of Suppliers parties in the TPI market.
As code administrator of DCUSA, SPAA and SMICoP, ElectraLink continues to drive customer-centric, market-leading regulation with aims to garner support from as many parties and organisations as possible to deliver and implement a TPICoP in the absence of licence or mandatory regulation.