This is a question we often get asked by our clients and so we have put together a three part blog series to help you identify how to spot an honest and transparent energy broker.
In the first part of the series we are focusing on the practices a good energy broker will adhere to. A good energy broker is one that works with your business and puts your best interests at heart, they should follow the following principles:
Transparency:
- They must tell you from the offset that you are talking to a broker
- With each presentation of quotes the broker must show you the scale of the market they have searched; which suppliers were approached for prices and the prices they submitted
- They must be clear on how they are being paid and the amount they are being paid by the supplier. This should be offered in terms of commission disclosure as a pence per kWh, an annual charge and a full contract charge.
Independent advice:
- The broker should not promote or advocate one supplier over another, all suppliers should compete equally for your business.
Fair and appropriate selling:
- If the broker tells you that a price is fixed then it must be fixed, with no hidden costs or pass through charges
- The broker must not use the Change of Tenancy process to exit you from live contracts. This is only allowable by law if a new legal entity is now occupying the building
- The broker should not using any ‘pressure selling techniques’.
Accurate contractual information:
- Ensure all T&Cs are in writing and made available to you to view
- The broker must ensure that you are aware you are entering into a legally binding contract.
Dispute resolution:
- An easily accessible complaints procedure must be in place. You should be able to make a complaint by phone, face to face, in writing or via electronic communications
- The broker must be willing to signpost you to sources of independent help available via The Energy Ombudsman, the Retail Ombudsman (Utilities Division) and the Citizens Advice Bureau.
Next week we will be sharing with you how brokers get paid. For more information visit our contact us page.