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by OFGEM (the energy industry regulator),
she signed up her gas & electricity via the
broker. She became suspicious about the
contracts when she compared her current
rates against the new rates and began to
engage with the supplier and ombudsman
for help, only to find out that brokers are
unregulated, and that it was ruled in the
supplier’s favour who argued that they had
taken the contracts “in good faith” from
the broker leaving her out of pocket. • Pick up the phone to your current
supplier and ask if they can beat the
brokers price, most will not want to lose
your business and may offer a cheaper
rate.
Utilising the help and support of Business
Energy Claims, set up to tackle commercial
energy broker mis-selling, Mary is currently
claiming against the broker for the mis-
selling of her contracts. • The broker will ask you to complete a
Letter of Authority, ensure that this is
limited to obtaining information and
quotes only until you are happy to
proceed with an offer.
Mary told us “As a small business, I’m not an
expert on energy contracts and I ended up
feeling totally duped by the broker. He said
he would search the market and get the best
deal, but I ended up with a much worse deal.” Business Energy Claims Ltd is the first
company actively addressing this issue,
helping clients do something about the mis-
selling that takes place every day. Business
Energy Claims average claim value is £14,452
demonstrating the sheer scale of this issue,
and they help all types of businesses reclaim
on a no-win, no-fee basis, and they can go
back 6 years to recover hidden commissions
from brokers.
How to avoid being mis-sold to:
• Always ask for proof (in writing) of how
the broker earns its commission, and how
much it will earn at the point of contract
for agreeing your energy contract. Also,
(and this is the important part), ask the
broker for written permission to enable
you to check this with the supplier. If a
broker will not give this permission, they
are hiding something.
• Request all the options, in most cases a
shorter-term contract may be cheaper
than a longer-term contract.
• Ask the broker for a list of the suppliers
they have received prices from, and
ensure you are happy with how many
they have obtained prices from. If any
suppliers are missing, seek a direct price.
• Do not allow the broker to push you
into a contract, take your time and
make sure you are happy with the offer
before agreeing it, remember, there is
no cooling off period when you use a
broker.
With over 10 years of experience in the
energy market, BEC would like to speak to
you if you have ever used the services of a
business energy broker and weren’t told
explicitly how much they were paid for
their services. With a simple process to help
identify hidden commissions, and ongoing
support to guide you through the claim.
If you think that you may have been mis-
sold an energy contract, please call 0800
6894259, or submit an enquiry via their
website at
www.businessenergyclaims.co.uk