Frequently Asked Questions
What is a TPI?
Third Party Intermediaries (TPI’s), are also known as energy brokers or energy consultants.
How likely is it that they I have been mis-sold my contracts?
Statistically, if you've used an energy broker you are over 90% certain to have been mis-sold to. But not every energy broker is guilty of mis-selling, so simply ask this question. Did your broker disclose to you the amount of commission they earned, and that you pay it via the contracted prices? If the answer is no then you have been mis-sold to and are owed compensation.
Surely OFGEM or the energy Ombudsman should be able to help?
Unfortunately, OFGEM has no power over energy brokers as industry is unregulated, it has led to thousands of brokers springing up with alarge percentage of these mis-selling. The Ombudsman does not investigate broker mis-selling unless a customer can provide evidence that the broker lied to them and so they rarely able to help.
What kind of businesses are affected?
Every type, from corner shops to large corporate entities, even the best finance directors in big blue chip companies are routinely misled and mis-sold to. Remember that the energy market is a complex market, and unless you had been trained in energy procurement and the wider energy market and knew what each suppliers base price is then you have no way of being able to spot it when it occurs as the paperwork usually has no mention of it. The broker uses their superior energy knowledge to misrepresent and mis-sell.
How much will I get back?
Typically, many thousands of pounds in fact some claims extend to hundreds of thousands of pounds (and in some cases millions) believe it or not. The longer you have been using the broker for and the longer the contracts and consumption then the more it will have cost you.For your own personal estimate please contact a member of our team who will be happy to help.
What are the likely outcomes?
Our aim is to help you achieve redress by obtaining compensation for the amount of loss that you have incurred (or will incur), or cancel the contracts or reduce the unit prices leaving you with a lower rate. Either way you will be in a better position going forward.
Should I just ask my broker?
You could, but as they are unregulated what is to stop them from lying to you and how could you tell? We have seen many examples where brokers have given misleading information when asked for this information directly.
Should I ask my supplier?
Please feel free to do so, ask them to tell you the amount that the broker has built into the contracted prices and how much they will expect to earn over the lifetime of the contract. But don't be surprised if they won't tell you, it is rare for suppliers to disclose this information as it is normally "commercially sensitive". They often pass these queries back to the broker to deal with. The problem is the broker is unregulated and has hidden it so far, how could you tell if they were telling you the truth or not?
Why should I use TPI Claims, why shouldn’t I just appoint my own solicitor to deal with it?
There is nothing to stop you doing that, but in our experience a lot of solicitors miss some of the particulars of the claim as they do not understand the energy market or know what to look out for when dealing with claims against brokers. We will use our knowledge of the energy market and broker tricks of the trade as well as our legal knowledge to provide hard hitting evidence to build as strong a claim as possible.
What does it cost to launch a claim?
We take your claim on a Conditional Fee basis (otherwise known as “no-win, no-fee”) meaning you only pay us if we are successful.
How do you get paid?
We take a percentage of the money recovered or saved as our success fee.
Our advisors can explain this in further detail, and it will be set out clearly in our agreement with you.
What is your process?
We will review the contracts put in place by the brokers without obligation or charge and review any documents or emails you may have that will help strengthen your claim. If you then wish to proceed with a claim, we will send over our fee agreement to be signed by you. Once that has been returned, we will proceed with your claim.
How far back can I go?
Normally about 6 years but realistically as long as you have the paperwork you can go back as long as you have used brokers.
Will I need to go to court?
Whilst it is true that most claims settle out of court there is a small chance you may need to go to court. If you are required to attend court your appointed solicitor will be there to advise and assist you.
Is it true that some of your team are ex-brokers?
Yes, and whilst they can't change what they did whilst employed as energy brokers previously, they are now trying to assist clients to bring claims to get money back and try to make a difference. Brokering has been around for around 25 years and nobody else has tred to address these issues, it has taken this blend of ex-brokers, claims managers and legal experts to break cover and fight for what is morally right for UK businesses.