Third party intermediaries can be the market makers of tomorrow

In a rapidly changing energy industry fuelled by innovation, new possibilities and opportunities have landed at the feet of third party intermediaries (TPIs). UrbanChain co-founder Dr Mo Hajhashem says now is the time for TPIs to step up.

The energy industry is deliberately very complex and difficult to understand.

This didn’t happen overnight. It has evolved into what it is today over many years.

Third party intermediaries (TPIs) have long played a role of importance on behalf of energy consumers, generators and renewable developers.

Historically TPIs came to be in this market due to consumers not feeling they could rely on, or trust suppliers.

To this day TPIs work with 70% of the businesses in the UK on procuring the required energy for the business.

Some TPIs compare the prices and give you the best offer to choose from - and that's it.

But many others provide different types of services from choosing and sourcing different suppliers for the clients to comparing, performing suppliers due diligence, bill validation to make sure it is correct, which are very useful.

Rapid changing energy landscape

The industry though is moving forward at a rapid pace.

Since the recent energy market crisis the regulator Ofgem is looking more so than it has before to make the energy industry work for everyone.

That has included looking forward in a bid to ensure the industry enables the best technology and innovation.

Ofgem constantly reviews and assesses wider implications of national and local importance which is leading to the feel of the energy market changing.

Technology = Trust and Transparency

The roles people and companies play within it are changing. There are new incumbents, new types of suppliers are coming in and they are utilising AI, Blockchain and many new technologies that ultimately provide more transparency in the market and promote direct honest relationships.

Trust is coming from efficient technology.

Relationships within the energy market are getting more and more direct by the day.

And the role of TPIs is rightly changing. To the point where it is so much more than what it has been in the past.

Harsh future or green and pleasant?

The future is even more harsh for TPIs, even those who provide efficient services.

If they want to survive in such a quickly changing environment they also need to evolve their role to become expert energy consultants who strategize energy generation and consumption for the next five to 10 years.

Energy is a matter of national security and the third most important cost for any business. And it requires long-term planning, it deserves the best strategy.

The role for TPIs has to be to help clients to have a good strategy based on their needs, requirements and the resources they have available.

Most TPIs are trusted members of different communities and they can enhance this role greatly.

If you are a good TPI you know the generators of energy, you know the consumers, renewable asset developers, solar developers and so on.

You have access to the right people and can create your own private energy markets.

Empowering the TPIs of tomorrow

Through our peer-to-peer exchange we have created new possibilities for the entire energy market.

TPIs can now play a more important role than ever before and be empowered by companies like us, UrbanChain.

We enable TPIs to govern their own markets while we take care of the technical and operational sides.

TPis can go out there and define their own markets while helping their own community and building that much needed trust.

UrbanChain makes life better for TPIs - and simpler - via the best deeptech in the market.

Working with us, TPIs will be more efficient, better at their jobs while also earning more money.

Moving from comparing prices to market makers throughout the UK.

This is the new role for TPIs.

And one that can set an example to other countries worldwide.