Are energy brokers making millions at your business’s expense?

The non domestic energy market continues to grow at a rapid rate — attracting unscrupulous brokers keen to cash in while they can.

According to the annual Cornwall Insight guide into third party intermediaries (TPIs) there could be more than 4,000 companies or individuals engaged in selling business energy contracts across the UK.

And during the last decade the TPI market has grown significantly, increasing from a market value of £232m to £525m in 2024. 

“There’s clearly plenty of money to be made within a market that shows no signs of slowdown,” says Victoria Myers of Energy Solicitors Limited (ESL).

“And while there are many brokers and consultants offering a transparent service and employing fair practices, it’s an unfortunate reality that the energy contracts market is falling prey to some pretty questionable practices.

“It’s an issue of trust. With a market so saturated it’s increasingly difficult to ascertain whether the TPI you’re working with has your best interests at heart. But we can help.

“ESL will do a deep dive into the deal you’ve done for your business’s electricity and gas and discover whether you could claim back thousands of pounds.”

TPIs are responsible for negotiating the majority of business energy contracts for both small and medium enterprise (SMEs) and industrial and commercial (I&C) customers.

In 2024, TPI market revenues increased 18 per cent on the previous year. The SME sector drove most of this growth, contributing £335 million (a 24 per cent increase).

“When it comes to working with a TPI it’s all about having confidence in your broker or consultant and knowing that you’re getting the best deal — and the fairest deal,” adds Victoria.

“Time and time again we find fees hidden in over-complicated online agreements that open the door to unscrupulous operators looking to make serious amounts of money.

“The Cornwall Insight guide underlines the fact that the non domestic energy market is a busy place to be right now. ESL is here to help your business navigate its way through the noise and make sure you get back anything and everything that you might be owed.”

The TPI market is segmented into three primary sectors:

• SMEs: Typically engage in fixed-term contracts lasting six months to three years.
• I&Cs: Tend to have flexible, multi-year agreements requiring bespoke support.
• Public Sector: Includes both private TPIs and Public Buying Organisations (PBOs), managing group procurement.

The ESL team has eyes across all three sectors and continues to campaign for fairer energy contracts in an industry that still requires regulation.

“Competition isn’t necessarily a bad thing and opening up the energy market could and should have been a positive,” adds Victoria. “But it feels as if we’ve reached a tipping point.

“Heightened market saturation is leaving businesses vulnerable right now and we’re here to make things clearer for our clients.”