BUSINESS | BROKERS | UK BUISNESSES MIS SOLD ENERGY

BUSINESS | BROKERS | UK BUISNESSES MIS SOLD ENERGY

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"UK Businesses Furious They Were 'Tricked' And Overpaid £10,000s On Their Business Energy"

Jordan Yates      Today 9:21 AM

BUSINESS | BROKERS | UK BUISNESSES MIS SOLD ENERGY

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Did you know a recent OFGEM (Office of Gas and Electricity Markets) investigation discovered greedy energy brokers are stealing Billions per year from UK businesses?

And did you know energy brokers are dictating what your monthly energy bills cost in a time when energy prices are sky high?

Understandably, UK businesses are furious. OFGEM has discovered that some businesses who’ve purchased energy through a broker are paying as much as 50% of their bill in undisclosed commissions. 

"Energy Brokers Hid Secret Commissions In Their Customers Energy Bill"

The problem is so prevalent, The Energy Watchdog has said it would “tackle unscrupulous energy brokers” to help millions of businesses get better deals. Giving businesses greater access to market fair energy prices.

So what does this all mean?

Well, when you purchased your energy (gas & electric), the energy broker and supplier had a secret deal.

The supplier would give your broker two options for your energy contract. The first would be a market fair rate. The second would be a rate the energy broker would dictate with a ‘secret commission’ embedded into your contract.

In other words, if the market rate for electricity is 10p/kWh. Then an energy broker can inflate this price to 12p/kWh and much higher. This is an ongoing and unfair commission.

The structure of these deals are so tightly woven, even experienced CFOs would be hard pressed to discover the hidden commission within their energy contract.

It’s estimated up to 90% of energy contracts bought through a energy broker were mis sold with high secret commissions costing the average UK business £25,000.

UK Businesses Urged to Check Their Energy Contract For A Large Financial Reward

But there’s good news on the horizon, more and more businesses are discovering they’re eligible for £10,000s, often millions back in compensation. With the ability to gain cheaper access to energy, at a time when energy bills are sky high.

They simply need to check their energy agreement, and if they’re unsure how to uncover hidden commissions, they can use professional services to validate their claim.

The 5 Common Tricks Energy Brokers Use to Mis Sell UK Motorists

Energy brokers were found to use a bunch of dirty ‘sales tricks’ in order to secure larger commissions from your business.

An example of such a trick would be to present your business with 2 options. The first, is a short term energy contract with an inflated price, e.g. 15p/kWh for 1 year (secret commission = 4p/kWh)

Next, they’d present a cheaper option but with a longer contract e.g. 13p/kWh for 5 years (secret commission = 2p/kWh).

On paper, the second option looks like the cheapest deal. When in fact it was presented this way so you’d pay them a larger commission.

If your business uses 100,000 kWh of electricity per annum, then with option 1, you’d have paid £4,000 in hidden fees.

However, if you choose option 2, then over the life cycle of your contract you’d have paid £10,000 in hidden fees on electricity alone.

"But My Energy Broker Helped Me Get a Cheaper Deal, Surely I Haven't Been Ripped Off?"

Whilst we agree, energy brokers do provide businesses with a beneficial service, and can help them secure a cheaper deal, often it’s for very minimal work.

Most businesses don’t change energy suppliers often and are therefore paying older rates for units of energy. It’s quite easy for a broker to tell you to move supplier, and therefore gain access to ‘cheaper energy’.

The Simple Way to Check if You're Owed Compensation

The only thing stopping you from claiming compensation is your ability to read through your energy agreement & spot their ‘hidden commissions’. (They’re called hidden commissions for a reason).

Whilst there are people on forums who can help, we can check whether you’ve been mis sold and are eligible for maximum compensation (ranging from £10,000s to £1,000,000s).

We can help you estimate how much your claim could be worth by using our free 30 second quiz here.

Simply click the button below to take our free 30 second quiz, and our software will do the rest for you.

Once we’ve identified if you could be eligible, our Energy advisor will give you the option to proceed with our investigation and help you secure compensation, or use our findings to help you negotiate a cheaper energy deal.

Take the quiz now and discover if you’re eligible for compensation.

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