Business Energy Mis-Selling
Protecting Businesses from rouge brokers
In recent years, energy mis-selling has emerged as a significant issue, plaguing the energy industry and compromising the trust between consumers and energy providers. Energy mis-selling refers to deceptive practices employed by suppliers to manipulate consumers into signing up for energy contracts that are not in their best interests. Such practices harm individuals, increase energy costs, and undermine the principles of fair competition in the market.
We have seen a steady rise in ‘Commission Free’ schemes being falsely advertised across the UK, with those taking part deceived into believing that no extra charges have been included in the energy rates they agree too. Even if your broker has made you a saving, it is likely you have not received the fully benefit and therefore can still claim.
It is very easy for us to check for you. If your contract is clean, you have the piece of mind,. If not then you have the right to seek compensation from the broker (and if through a scheme, the body that introduced them to you).
There are a host of no win, no fee teams that will be able to assist you in your claim. We have our own dedicated team of claims experts which you will hopefully choose.
Understanding Energy Misselling:
Energy mis-selling occurs when energy brokers employ deceptive techniques to mislead consumers into switching their energy contracts or selecting tariffs that are unfavorable to their needs. These techniques can include false commission free or fully funded marketing, misleading sales scripts, incorrect or incomplete information about costs, hidden fees or charges, and failure to disclose vital contract details. The goal of these tactics is to confuse or manipulate consumers into making decisions that are not in their best interests.
Consequences for Consumers:
Energy mis-selling has numerous negative consequences for consumers. The most immediate impact is financial, as consumers may find themselves locked into a more expensive contracts or facing unexpected fees. These costs can accumulate over time, leading to significant financial burdens. Moreover, consumers who have been missold energy contracts often experience frustration, stress, and a loss of trust in energy providers, which undermines the integrity of the industry.
HAVE A FREE ENERGY CONTRACT REVIEW
UNDERSTAND IF YOU HAVE BEEN MIS-SOLD AND ABLE TO MAKE A CLAIM
New rules for suppliers and brokers to protect businesses from mis-selling
- Ofgem is proposing a new code of practice requiring brokers and other third party intermediaries (TPIs) to be completely clear with businesses about their fees, the contracts they offer and which suppliers they represent.
- Ofgem proposals require suppliers to only work with brokers that have signed up to the code
- The finalised code and licence condition should be in place by the end of the year.
Suppliers are to be set new rules which will further protect businesses from misselling by some energy brokers.
The new rules Ofgem is proposing mean that if suppliers want to market deals through a broker, or a TPI they would have to use one which is accredited under a new code of practice.
TPIs play an important role in helping businesses compare and choose tariffs and make their energy decisions. However, some do not operate fairly and mislead businesses… READ MORE
Rogue energy brokers ‘con small businesses out of £2bn a year’
Ofgem is told charities, churches and micro firms are being locked into poor-value deals
Small businesses are being conned out of £2bn by rogue “energy brokers” who lock them into long-term bad-value gas and electricity contracts, according to documents submitted to the energy regulator.
Charities, churches and care homes are among the organisations paying far more than they should for their energy after falling prey to the unregulated brokers, the documents say.
Some individual firms are seeking payouts of up to £1m, according to one claims management firm that is seeking legal settlements for small businesses against their brokers…READ MORE
Energy brokers under fire over ‘rip-off’ charges
Some are making fortunes by signing up small businesses to deals and quietly pocketing big commissions… READ MORE
HAS YOUR BROKER CLEARLY DECLARED THEIR FEES ON YOUR CONTRACT?
HAVE YOU BEEN TOLD THAT THERE ARE ZERO COMMISSIONS OR YOUR SERVICE IS FREE?
A FREE, FAST AND DISCRETE CHECK IS ADVISED
We’ll advise you on your contract and you will know for sure. You may currently be paying more than you should due to hidden fees and concealed commissions.
You may be liable for compensation.