Is your company due a refund for deceptive energy agreements?
We’ve successfully supported numerous enterprises in reclaiming amounts from £2,000 to over £1.7 million. Discover your potential refund in three simple steps.
Have You Been Deceived?
A vast number of UK enterprises rely on energy brokers to manage their energy requirements, serving as intermediaries between businesses and energy providers. If you’ve engaged an energy broker, it’s possible they’ve included undisclosed fees in your energy agreements without proper explanation.
Energy brokers are required to disclose any fees earned, yet many have historically made vague statements or hidden their financial gains.
Our discussions reveal that over 90% of businesses we’ve interacted with have employed an energy broker, with an average refund claim exceeding £25,000, and in some cases, entitlements reaching into the millions.
We estimate that more than 2 million businesses could be eligible for refunds, and we’re committed to simplifying the claim process for you.
Understanding Broker Misrepresentations
Did your broker fully disclose their earnings from your business’s energy contract? Our findings suggest that transparency is rare, as full disclosure could potentially reduce their earnings significantly.
Were you informed that their services were complimentary, or that the broker’s fee was a referral bonus from the supplier? Often, brokers’ fees are incorporated into the price per unit you pay, usually without your knowledge.
Gas Contract
2-year term, Broker Fee: 1p/kWh, Annual Usage: 523,151 kWh, Broker Commission: £10,463.02
Electricity Contract
5-year term, Broker Fee: 0.4p/kWh, Annual Usage: 764,894 kWh, Broker Commission: £15,297.88
Total Broker Commission
£25,760.90
Our Approach
With a collective expertise spanning over 150 years in legal and energy sectors, we’re adept at identifying and recovering funds from misleading energy contracts. Our process is straightforward:
Information Gathering
We’ll need the broker’s name and copies of your energy contracts or invoices.
Claim Assessment
We’ll evaluate your claim, coordinating with both the broker and the supplier on your behalf.
Continuous Updates
You’ll be kept informed throughout the claim process and we’ll address any queries you might have.
Common Misconceptions About Energy Broker Misconduct
Did your broker fully disclose their earnings from your business’s energy contract? Our findings suggest that transparency is rare, as full disclosure could potentially reduce their earnings significantly.
My broker saved me money
Savings do not negate the possibility of a claim due to hidden commissions.
Regulators would intervene if something was amiss
Currently, energy brokers are not regulated, leaving room for misconduct.
Long-term contracts are better
Brokers often promote longer contracts because they yield higher commissions.
The commission must be minimal
Our experience shows that undisclosed commissions can be substantial, often surprising our clients.
Begin Your Claim Today
Average Claim Value: £2,000 – £1,800,000
FAQ
These are the most common comments we receive around Energy Broker mis-selling
But my broker saved me money!
This is quite often the case, but this does not determine whether or not you have a claim. In a lot of circumstances it is conceivable that a broker can save you money because of the excessive deal you were on previously, but there can still be a substantial amount of hidden commission resulting in a claim.
Why is the term of the contract so important?
Usually brokers tend to persuade clients to take a longer-term contract than short term, and in doing so claim that the market is likely to increase during this time. However, brokers are motivated to sell longer-term contracts and they are more appealing to them because the commission is multiplied by the length of the contract, usually representing a larger claim amount.
Surely if this was the case the regulator would step in?
Unfortunately, energy brokers are not regulated, and OFGEM have no powers (at present) to deal with them. We are pushing the likes of OFGEM, Citizens Advice etc to enforce a code of practice, and regulate the industry, but in the absence of regulation, we are looking to push for financial redress for businesses that have been mis-sold to.
I’m sure that if they didn’t tell me how much they earned it wouldn’t be much anyway?
That could well be the case and usually clients perceive that brokers do earn a negligible sum that does not affect their energy costs. However, our average claim amount is over £25,000 and this can extend to significantly higher. Our experience tells us that clients are usually shocked to find the true extent of the undisclosed commission amounts.
My financial director checked everything, there’s no way they could have been mis-sold to!
Because of the misrepresentations that can be made and the way in which brokers can mislead, even the most astute finance directors and teams can be mis-sold to.
Brokers aren’t charities, they may not have told me about their commissions but I assume it’s there!
We completely agree. Ultimately energy brokers are businesses and ought to be paid. However, generally brokers are paid by adding a margin to your rates which can occupy a significant proportion of your energy spend and according to the duties that they owe to you, they ought to fully and frankly disclose this to you and the amount of their commission.
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