Do you know what Business Energy really costs?

Mis-selling Energy Contracts

Your business could be owed a significant amount of money due to what you thought was a great deal on your past and present energy contracts.

If you have ever used an energy broker or third party intermediaries to help you find the best deal on gas and electric contracts then you could have been mis-sold.

Whilst not every energy broker should be tarred with the same brush, a significant proportion are not as honest about why they are recommending certain deals or suppliers.

Our energy experts at Evans Hughes have found that one of the biggest driving forces behind brokers are financial rewards for themselves, putting the client a distant second when it comes to choice.

How are energy brokers mis-selling?

Did your energy broker tell you how much they made from arranging your business energy contract? Whilst you would expect them to make a fee, that is only natural for a business, the size of that fee may surprise you.

In our experience many do not disclose this as being open and transparent would probably have made you think twice about the deal you were about to sign. perhaps they told you their service was free or that they just had targets to meet with their managers.

Typically, most brokers are given their commission direct from your supplier. The same one they helped arrange that great deal with, what you did not know is what was built into the uint price of your energy.

Give me an example?

Ok lets say your actual cost of energy from your supplier is 10p/kWh. Your broker adds their commission on of 1p/kWh. You now pay 11p/kWh from your supplier. The extra 1p/kWh is paid as commission to your energy broker.

This may seem like a small hike in price however on a two year energy contract with an annual energy consumption of 512,091 this adds up to a payment of £10,241.82 to your broker in potentially hidden commission.

How can this be allowed to happen?

Sadly, energy brokers are not regulated in the same way many other industries are and OFGEM have no power to deal with them. This is why an experienced team of investigators are needed to get to the bottom of what has been going on with your business energy deals.

The question to ask yourself is, if you were told clearly and openly how much was being added to your energy bill by a broker, would you still have agreed that deal?

What can I do?

Here at Evans Hughes we have experts in financial mis-selling and as a firm authorised and regulated by the FCA, we are in a position to offer you the correct advice.

We can investigate the past and present energy contracts and give our advice on the process of getting your money back. This initial consultation is free and with no obligation.

If we find that there is a claim to be made then our team at Evans Hughes will be able to walk you through the process. Feel free to message our mis-sold energy contracts team today.