Most clients we speak to are unable to tell us what they paid for their brokers services, not because they’ve forgotten, but because they weren’t told by their broker.
Their knowledge of suppliers and prices available, and the different mechanisms they can employ to earn their commission means that savings are often delivered to sweeten the deal, but commissions are often highly disproportionate to the work they do for the business. They are highly skilled sales people, capable of organising contracts with hidden commissions that get past even the most capable of finance teams. We have also uncovered hidden commissions in paid for broker services.
We believe that over 50% of businesses utilise the services of an energy broker, and whilst some brokers do charge an upfront fee for their services, the vast majority use a commission model which has a direct impact on the price achieved.
Some brokers simply 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”, the truth however is that the price is “uplifted” by adding broker commission onto the price that they present to the client, which is sanctioned by the suppliers.
All sizes of business are being deliberately misled, and 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. Start your claim today.