Businesses in the UK are owed billions of pounds through mis-sold energy contracts.
If you have ever used a broker or intermediary to find you the “best” deal for your business, it is possible you may be paying more than you should due to hidden commissions placed into your agreements by your broker. Energy brokers /consultants assist businesses by offering them gas and electricity contracts from energy suppliers.
Whilst not all brokers are guilty of mis-selling, a large percentage make misleading statements about how they are paid, why they are recommending certain deals or suppliers, and this is often driven by financial motives meaning that clients’ needs are rarely the focus of the deal. If the commission structure was not made absolutely clear to you in writing then you may be entitled to a refund of the commission paid + interest. Due to these hidden commissions, the relationship is deemed to be unfair.
Full Disclosure
This is where you are provided an exact breakdown of the commission structure being paid by the provider/received by the broker
Partial Disclosure
This is where you are informed that a commission will be paid to the broker on the completion of your agreement but you are not provided exact figures
Total Non-Disclosure
This is where you are not informed of any commission being paid or received on the completion of your agreement
I am looking to engage with SME's to ensure they are making educated decisions about their own expenditure and helping them protect themselves against future costs increases in a variety of areas.
