Navigating commercial energy contracts can indeed be daunting for businesses, leading to a surge in the number of energy brokers, also known as “third-party intermediaries” (TPIs) in recent years, as noted by the UK’s energy regulator, Ofgem.
Unlike energy suppliers, brokers in the commercial energy sector have historically operated without regulation. Ofgem has expressed its intention to regulate such businesses, yet progress in this regard has been slow.
If your business has engaged an energy broker, you might be surprised by the undisclosed commissions they’ve earned at your expense. Despite billing their services as “free,” brokers often receive substantial commissions from the energy suppliers they recommend to you.
Adding insult to injury, these commissions are typically built into the unit cost of your energy contract without your knowledge. Essentially, your business ends up footing the bill for the broker’s commission throughout the contract duration. Consequently, brokers may have been incentivised to recommend longer-term contracts, regardless of whether they were truly beneficial for your business.
Many brokers failed to disclose their commissions, let alone the fact that these costs would be passed on to their clients, increasing energy suppliers’ profits. This lack of transparency, where brokers fail to clearly disclose the commission they receive while purporting to act in their clients’ best interests, is commonly referred to as a “secret commission.”
At Reclaim My Bills, we’re committed to advocating for transparency and fairness in the energy brokerage industry. Our mission is to empower businesses to uncover hidden commissions, seek appropriate compensation, and ensure that their energy contracts align with their best interests.
Determining whether you have a valid energy claim typically involves assessing whether you’ve been a victim of undisclosed commissions or mis-selling by an energy broker. Here are some common indicators that might suggest you have grounds for a claim:
If you suspect that any of these situations apply to you and your business is still actively trading, it’s advisable to seek advice from a specialist energy claims service.
Reclaim My Bills can assess the details of your case and advise you on the best course of action to pursue compensation for any losses incurred due to mis-selling or undisclosed commissions.
At Reclaim My Bills, we’re here to help you assess your eligibility for an energy claim and guide you through the process of seeking compensation.
Feel free to contact us for a consultation and expert advice tailored to your specific circumstances.
These undisclosed commissions can significantly impact your energy costs, often without your knowledge or consent.
At Reclaim My Bills, we understand the frustration and financial burden that undisclosed commissions can impose on businesses. That is why we are dedicated to shedding light on these practices and advocating for transparency in energy procurement.
(1). Provide copies of any energy supply contracts where you have engaged with a TPI
(2). Provide copy bills that relate to each of the above contracts
(3). Provide evidence or communication from the TPI that relates to the above
(4). Contact your Reclaim My Bills energy claims specialist
If you think you have fallen victim to undisclosed energy commissions, it is not too late to make a claim.
The courts offer businesses the chance to fight back, and we have seen increasing success in business owners obtaining damages to make good the losses caused by their brokers’ conduct.
At Reclaim My Bills, we believe that everyone has the right to justice. If your broker received a secret commission from your energy supplier then we might be able to help. We will work with you to assess your eligibility and work out how much you could claim in compensation, before carrying out the negotiations and any court proceedings on your behalf through our specialist panel of business solicitors.
All the solicitors on our specialist panel operate on a no-win, no-fee basis and it can still be possible to make a claim even if the broker you used is no longer trading.
Please complete the enquiry form on this page and a Specialist Senior Advisor will get in touch with you to discuss your business energy claim.
Not all energy brokers employ secret commission tactics, but we can find out if your broker didn’t act in your best interest and help you get the compensation you are entitled to.
We are experts in pursuing successful business energy claims, understanding the intricacies of energy contracts with the ability to pinpoint how much you’ve unknowingly paid in hidden commission fees each month.
At Reclaim My Bills, we believe in transparency and fair dealing. We advocate for businesses to be fully informed about the costs associated with their energy contracts and ensure that they receive unbiased recommendations aligned with their needs and interests.
In the unregulated landscape of energy brokerage, Reclaim My Bills stands as a staunch advocate for accountability and fairness. With a keen awareness of the industry’s challenges and the absence of regulatory oversight, Reclaim My Bills is spearheading efforts to push for change and ensure the protection of businesses.
Despite the lack of regulation, Reclaim My Bills remains committed to holding brokers accountable for their actions. Actively engaged in lobbying regulatory bodies such as OFGEM and advocacy organisations like Citizens Advice to enforce a code of practice and introduce regulations to safeguard businesses.
Recognising the detrimental impact of mis-selling practices, the Reclaim My Bills team is dedicated to seeking financial redress for businesses that have fallen victim to deceptive practices. Their efforts aim to empower businesses to seek compensation for undisclosed commissions and ensure transparency in energy procurement processes.
Drawing from extensive experience, Reclaim My Bills understands that the perceived insignificance of broker commissions often masks the substantial financial implications for businesses. Through their work, they have uncovered average claim amounts exceeding £18,000, with some cases resulting in significantly higher redress. This revelation serves as a wake-up call for businesses unaware of the true extent of undisclosed commission amounts.
In the absence of regulation, Reclaim My Bills unwavering commitment to advocacy, transparency, and financial redress serves as a beacon of hope for businesses navigating the complex landscape of energy procurement. Our relentless pursuit of fairness and accountability is driving positive change and reshaping the industry for the better.
If you have any further questions then please don’t hesitate to get in touch and a member of our reclaim team will be happy to assist.
If you suspect that you’ve been a victim of undisclosed energy commissions, it’s crucial to know that you still have options to seek justice.
At Reclaim My Bills, we firmly believe in fighting for your rights. Our team has witnessed an increasing number of business owners successfully obtaining damages to recover losses caused by their brokers’ misconduct.
If your broker received a secret commission from your energy supplier, we are here to assist you. Our dedicated team will collaborate with you to evaluate your eligibility and determine the potential compensation you could claim. We’ll then handle negotiations and any necessary court proceedings on your behalf through our specialised panel of business solicitors.
Rest assured, all solicitors on our panel operate on a no-win, no-fee basis, ensuring that you don’t incur any upfront costs. Even if the broker you used is no longer in business, it’s still possible to pursue a claim.
To take the first step towards reclaiming what’s rightfully yours, simply complete the enquiry form on this page. A Specialist Senior Advisor will promptly reach out to discuss your business energy claim and guide you through the process. At Reclaim My Bills, we’re committed to helping you achieve the justice you deserve.
Navigating a business energy claim can be as simple as 123 when you have the right support and guidance.
With the right support, pursuing a business energy claim can be straightforward and hassle-free. So don’t hesitate to take the first step towards reclaiming what’s rightfully yours—it really can be as easy as 123.
The timeframe for concluding a business energy claim can vary depending on various factors, including the complexity of the case, the cooperation of involved parties, and the specific legal processes involved. Here are some factors that may influence the duration of a business energy claim:
While there is no fixed timeframe for concluding a business energy claim, it’s important to work with experienced legal professionals who can guide you through the process and advocate for your interests. They can provide you with a realistic assessment of the expected timeline based on the specific circumstances of your case and work diligently to achieve a favourable outcome.
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.
Energy brokers in the commercial energy sector have historically not been subject to regulation, primarily due to the following reasons:
Despite the lack of statutory regulation, there have been calls from some quarters for greater oversight of the energy brokerage sector to ensure consumer protection and prevent instances of mis-selling or misconduct. Efforts to regulate brokers more formally continue to be a topic of discussion among industry stakeholders and regulatory bodies.
It’s important to recognise that energy brokers provide a valuable service, and it’s reasonable for them to be compensated for their work. However, transparency is key in ensuring that businesses understand the costs associated with their energy contracts.
While brokers are entitled to receive compensation for their services, it’s imperative that they disclose any fees or commissions they earn from arranging energy contracts. This transparency allows businesses to make informed decisions and ensures that they understand the full cost implications of their contracts.
If your broker claims to offer their services for free, it’s essential to inquire about how they are compensated. In many cases, brokers receive commissions from energy suppliers, which are built into the unit price of the energy contract. However, this should be clearly communicated to the client, and any conflicts of interest should be avoided.
At the end of the day, while brokers may not work for free, businesses have the right to know how much they’re paying for the services they receive. Transparency and clear communication are essential in maintaining trust and integrity in the energy brokerage industry.
The cost of pursuing a business energy claim can vary depending on several factors, including the complexity of your case, the legal processes involved, and the fee structure of the legal service or claims management company you choose to represent you. Here are some common fee arrangements for pursuing a business energy claim:
The method of compensation for a business energy claim can vary depending on the specifics of your case and the outcome of negotiations or legal proceedings. Here are some common ways in which compensation may be awarded:
The specific method of compensation will depend on the circumstances of your case and the agreements reached during negotiations or legal proceedings. It’s important to work closely with your legal representatives or claims service to ensure that you receive fair and adequate compensation for your losses.
Total Cost Impact: If we were to calculate the total cost impact of the 2p uplift over the duration of a 3 year contract term. For example, a 2p uplift on 50,000 kWh per annum would result in an additional cost of £1,000 per year (£0.02 * 50,000 kWh). Multiply this by the number of years in the contract term to determine the total extra cost