A guide to price comparison websites

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Can we search industry held data to gain your meter number, supplier and usage for quoting? ? What does this mean?
To get your quotes at lightening speed we need several key pieces of information which can all be found on your electricity bill. But by simply ticking this box, we can search ‘industry held data’ to get your meter number, electricity consumption and current energy supplier. This means that we can get you quick quotes without asking you to dig out all of your paperwork. This is personal data therefore we need you to allow us to access this information.

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James Longley

Managing Director

min read

When looking for energy rates, you will usually start your process with a PCW which stands for Price Comparison Website where you’ll then be passed onto a trusted TPI, also known as a Third-Party Intermediary. A TPI is an organisation such as a broker and their aim to help you secure your energy contract and manage your energy needs.

Preferential Energy Rates

Depending on the size of the TPI, they will have access to preferential rates from the UK’s leading suppliers and often premier broker status to provide customers with the best energy prices. Suppliers don’t always offer the best price directly, but as a TPI secures more business volume to the supplier they gain lower rates which can then be passed on to the customer. A TPI can also provide energy saving products to help save energy and money. PCW’s do not have access to the whole market, meaning they will only provide low quality cheap prices with potential hidden extras. PCW’s also take a lot of your personal information and it may not be clear how they process this data.

Time is money

If you have a business, it is more than likely, you may not have to time to search the market for the best price. So why not let a professional navigate the difficulty of contract negotiation for you, saving you time and money. After all, the old saying is true, “time is money”. TPI’s have top notch knowledge of the energy market as they negotiate contracts daily which means they will be able to find a far better price.

TPI’s will be there to take away the stress and resolve the problem for you. Should a problem arise, working with a TPI means you will be able to speak to someone who will explain it in simple terms and resolve the problem based on your specific needs rather than a PCW that simply offers one service. If you don’t use a TPI, it may take your hours to speak to someone that may not give you all the information you need subsequently causing unwarranted stress.

Securing your contract

You wouldn’t sign a contract in a foreign language without a trusted party and the same applies for energy contracts. Energy contracts are becoming more complicated, especially during the energy crisis. A TPI can translate your energy contracts into simple terms and help you understand the T&C’s before signing into a contract. Prices are fluctuating daily during the current market conditions which is where a TPI comes in useful. A TPI will cut through all the paperwork for you, explaining the key points such as volume tolerance, termination clauses, etc.

We recommend finding a reliable TPI to shorten the process and limit an increase in costs. By adding another link to the chain, this makes the process more expensive but where is this made up. Is it the uplift or is it added to your contract?

Key

PCW – Price comparison website (such as Compare the market)
TPI – Third Party Intermediary (a broker such as ourselves)

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