As energy bills continue to rise across the UK, many businesses are facing unprecedented financial pressure. On Sky News at Ten, hosted by Anna Botting, Callum Thompson, Managing Director of Business Energy Claims, joined the conversation to discuss the urgent need for an energy price cap for businesses, a protection currently only available to domestic consumers.
Callum Thompson’s Call for Business Energy Reform
With over eight years of experience in the utilities and energy sector, Callum shared his concerns about the lack of safeguards for UK businesses:
“We’re acting for many clients who are facing astronomical increases—what used to be four, five, or sixfold is now seven, eight, or even ninefold. It’s an enormous problem that needs to be rectified very soon.”
The absence of a price cap means businesses are exposed to extreme market volatility, often paying far more than necessary, especially when hidden broker commissions are involved.
The Impact on UK Businesses and Jobs
At the start of 2021, SMEs employed 16.3 million people in the UK. But as reported by The Times, rising energy costs could force 10,000 businesses to shut permanently, putting 500,000 jobs at risk in the hospitality sector alone.
Business Energy Claims has published guidance to help businesses reduce energy costs, but as Callum explained:
“There comes a point where the government needs to step in.”
The Hidden Fees Problem
Callum also highlighted a major issue in the commercial energy market:
“There’s an enormous issue relating to hidden fees in the energy market… it’s a heavily intermediated sector and it’s an issue we’re trying to correct.”
In one case, Business Energy Claims helped a West Midlands care home recover thousands of pounds after discovering undisclosed commissions in a three-year contract with British Gas, brokered by NRG Corporation Ltd.
How Business Energy Claims Can Help
If your business has used an energy broker, you may be entitled to compensation for hidden fees or mis-sold contracts. Business Energy Claims offers:
- Free, no-obligation contract reviews
- No Win, No Fee claims process
- Expert support to recover lost funds
To find our more, call us on 0800 689 4259 or email [email protected]