Why pay for a TPI?
As with any service provider, there are good and bad TPIs (Third Party Intermediaries) in the energy market. Assuming you have partnered with a reputable TPI, the relationship can prove beneficial on many levels. Don’t be penny wise and pound foolish, if you want top notch service from your TPI, be prepared to pay a fair price for that service, and enjoy the benefits that come along side it. A good TPI will deliver an excellent return on your investment as outlined below:
Knowledge:
TPIs live and breathe energy contracts, they are negotiating them on a daily basis, so will be much more au fait with the energy market and supplier contracts than an individual who looks at their energy contract once a year.
We Speak Energy:
You wouldn’t sign a contract in a foreign language without either a translation or advice from a trusted party. The same goes for energy contracts, so don’t go it alone. With energy contracts becoming more and more complicated, some including very complex language, it is a good idea to have someone supervise your contracts who is fluent in ‘energy lingo’ and terminology. Plus, do you really have the time to read all the fine print? Some supplier T&C’s are 50 pages long, full of micro print and legal language. In fact with prices constantly fluctuating, a rate may be withdrawn by the time you could read all the fine print on a contract. A good TPI will cut through the paperwork for you, drawing your attention to important points, such as volume tolerance, termination clauses etc.
Efficiency:
You have a business to run. So why not let a professional navigate the stormy waters of contract negotiation for you, freeing up your time to run your business, and focus on your own clients instead of worry about the gas and electricity. After all, the old saying is true, ‘time is money’.
Contacts:
When a problem arises would you rather resolve it the low or high frustration way? Securing your energy contracts via a TPI will lower your stress levels and frustration. Should a problem arise your TPI should be your first call, you will speak to a real human, someone whose name you know, someone who is familiar with your account previously and knows about your set up and needs. Contrast this with the alternative: if you go it alone with the Supplier, take a deep breathe because you are about to enter the ‘helpline hell’ zone. Instead of dealing with a TPI you will be spending time pushing ‘1 for billing’ ‘2 for meter read’ etc. Eventually when you speak with a human representative, they may not give you their last name, email address, or a direct telephone number to call back on. Supplier helplines can sometimes result in some serious pulling out of hair. Don’t go bald, call a reputable TPI instead, your hairdresser will thank you!
Competency:
Yes, it is true, you can secure electricity and gas contracts on your own. Consider for a second that a good TPI is securing contracts on a daily basis, in fact, energy contract negotiation is their bread and butter, not an activity they undertake once a year. As with any form of procurement, would you feel better with an experienced negotiator or someone negotiating for the first time, or once a year?
But they make it look easy, why should I pay for that?
Well congratulations, you have partnered with a TPI who is good at their job. If the TPI makes it look easy, it is because they have years of experience and extensive training under their belt. They are professionals who have a mission to make your life easier, and contracts to operate seamlessly. They are meant to do the behind the scenes work, so you don’t have to. Believe me, the work that goes on behind the scenes it not easy and in many cases can be downright complicated, but reputable TPIs take pride in making it appear effortless.
Long term and ongoing benefits:
Don’t pinch pennies when there are pounds to be saved. A good TPI will be worth every penny in the long run. They will deliver you competitive prices, professional service, ease of administration and peace of mind. Don’t be short sighted, operating a business is a long term commitment… more of a marathon than a sprint. Whilst you pay for a TPIs service, you reap the benefits in many areas and for the long term!
