Third-party Intermediaries (TPIs) have seen a decrease in growth in both the Small and Medium Enterprise and Industrial & Commercial sectors. This is due to COVID-19 and market uncertainty, according to our ‘TPI in the business and industrial supply markets‘ report.
The decrease in revenue was partly due to the temporary closure of businesses during national lockdowns. Also, during this time many TPIs furloughed sales staff which reduced the number of new business energy contracts TPIs were able to secure. Distress in many businesses meant the renewal of energy contracts moved down the list of priority for customers. Many customers would have chosen to defer contract renewals until the outlook for their business operations became clearer.Molly Lloyd