Do you know what you paid for your energy broker’s services? Or are you a victim of energy mis-selling?
Most clients we speak to are unable to tell us what they paid for their broker’s services.
This isn’t because they’ve forgotten, but because they weren’t told by their broker. They were a victim of energy mis-selling.
How are energy brokers mis-selling?
Energy brokers are highly skilled sales people. They are capable of hiding commissions that get past even the most capable finance teams.
Brokers may offer and often deliver savings on your energy “deal”. However, their knowledge and processes often result in huge commissions for the work they do. This may mean that the broker themselves are the ones getting the best deal, not you.
How common is energy mis-selling?
We believe that over 50% of businesses have used an energy broker. This means there are upwards of 2 million businesses entitled to compensation.
Whilst some brokers charge an upfront fee, the vast majority use a commission model, directly impacting energy prices. Some brokers omit this information intentionally. Others lie about how they are paid, claiming the service is free or “the supplier pays a commission to the broker”.
However, the truth is that prices are “uplifted” by adding broker commission. This increased price is then presented to the client, who is none the wiser. Sadly, this process is often sanctioned by the suppliers.
Who is being targeted?
All sizes of business are being deliberately misled. No matter how experienced you are in procurement or energy management, brokers have ways and means of positioning deals that are beneficial to them, rather than you.
After all, these organisations are “experts” in their field. Why would you not take the recommended deal?
We offer a free, no-obligation review of your business’ energy contracts to identify the hallmarks of mis-selling and ascertain whether you have a valid claim.
We work with our expert panel law firm [Energy Solicitors ltd.; SRA no. 8000596] to help businesses to recover hidden commissions and losses from the mis-selling of energy contracts. Start your claim today.