Thousands of UK companies may have been misled when purchasing their business energy contracts and may be able to claim compensation back from their supplier. This is down to how the contracts were sold.
If your company used an energy broker or consultant, sometimes known as third-party intermediaries or TPIs, you may unknowingly be paying hidden commission each month.
Claim Experts can help you and your business if you believe you have been misled in relation to how your energy price is calculated, and can also work out how much compensation you may be owed.
What is a Business Energy Hidden Commission Claim?
Many businesses use third-party intermediaries (TPIs) to purchase energy for their business. TPIs act as a broker between the company and the energy supplier, assisting firms by sourcing gas and electricity contracts.
However, if the TPI kept secret how much they might earn from this introduction to the energy supplier, that is fraud and you company may be able to claim compensation. TPIs often tell the companies that they work under a “introducers fee”, but more often than not it is a little more complicated that this, and the TPI is hiding commission.
They hide their commission for good reason, too. These mis-leading statements in relation to how the energy brokers get paid are often driven by financial motives for them, and not you.
Usually, TPIs received commission directly from the energy supplier, with the commission being built into the unit price they offer. This means that you may be paying commission each month. This doesn’t sound much like an “introducers fee” to us.
How can you hide commission within energy contracts?
For business energy, hidden commissions occur when an agent, introducer, or TPI sells you an energy contract from an energy supplier. If the agent or TPI received a fee or commission for bringing you to the energy supplier, and neither the agent or supplier has informed you of this, that is a hidden, secret, or undisclosed commission.
Below is a demonstration of the process:
You ➔ Introducer/TPI ➔ Hidden £££s ➔ Energy Supplier
It is not sufficient for the energy supplier to inform you a commission “may be payable”. A general statement that “a commission may be paid in certain circumstances” is not adequate enough.
They must inform you at the point of sale how must the commission is, and if the commission is paid each month. If they fail to do so it is a form of fraud. Both the supplier and the broker/TPI may be liable for potential claims.
How much is a hidden commission energy claim worth?
The amount your claim might be worth is dependent on how much energy you use and how much the secret commission is. If the commission is built into the contract, it might look something like this:
Cost of Energy – 15p per kWh
Introducer/TPI Commission – 2p per kWh
Your Bill – 17p per kWh
Supplier pays 2p per kWh to TPI
Claims can be worth anything between £1,000-£500,000 depending on your energy usage.
How can I start my claim?
It is estimated that 50% if UK companies use a broker for their business energy contract. If you are one of them and believe you are paying unfair secret commission, Claim Experts can help.
Our team make starting your Business Energy hidden commission claim easy. We have a team of experts who are on hand to talk you through the process. There is no obligation to use our service after we have performed our initial checks.
If you are one of the thousands in the UK that might have been affected by the undisclosed business energy commission scandal, contact one of the Claim Experts team today and we will be in touch to talk you through the next steps.
There are no up front costs, and any payments to us will simply be deducted from your compensation award should your claim be successful.
How can Claim Experts help?
Have you been a victim of hidden business energy commission mis-selling? If you are subject to secret fees from your energy broker and supplier, you may be entitled to compensation. Claim Experts can guide you through any potential claim, and we work on a No Win, No Fee basis, so there is no risk to you.
Our legal team come from a financial services and compliance background. We have experience of bringing successful claims against those who mis-sell financial products. We are regulated and authorised by the Solicitors Regulation.
At ClaimExperts.co.uk we make claiming for compensation easy:
- No Win, No Fee*
- No Upfront Payments
- An Expert Team
- Regulated and Authorised by The Solicitors Regulation Authority