Business Energy What They Don’t Want You To Know

Have you ever wondered about the tactics some business energy companies use to turn a profit? Are you equipped with the knowledge to spot the pitfalls while seeking a new energy provider? From concealed commissions to misrepresented contracts, understanding the unspoken truths in the business energy sphere is crucial. In this blog post, we’ll unveil these secrets and offer guidance to shield yourself from potential exploitation.

1. Uncovering Hidden Commissions

Business energy companies often pad their profits with concealed commissions within energy contracts. These additional charges, camouflaged within contract costs, accumulate over time. In many cases, these commissions surpass what customers might pay if they directly purchased energy from suppliers.

Such hidden commissions also come with extra fees like administrative charges or penalties for late payments, resulting in unforeseen expenses. It’s imperative for businesses to grasp these covert costs before signing contracts, preventing potential long-term financial impacts.

In fact, these commissions often incentivise sales representatives or brokers to push for longer-term or pricier contracts, irrespective of what a business actually needs.

Researching different energy suppliers and consulting with energy experts can help businesses identify the best energy deals while steering clear of hidden commissions.

2. The Dangers of Mis-Sold Contracts

Business energy companies have a history of misleading customers through opaque contracts, leading to unexpected charges and inflated bills. Lack of transparency, failure to disclose contract terms, or concealed costs often play a role in these scenarios.

Renewing contracts with the same supplier might perpetuate undisclosed or hidden expenses. It’s crucial for customers to thoroughly review contracts and explore alternative options before renewing with their current supplier.

If you suspect a mis-sold contract, contacting Rybeda Group for a review of your contract terms is a proactive step. Engaging your current provider and reporting potential mis-selling concerns can prompt investigations. The Energy Ombudsman is also an option if a satisfactory resolution isn’t reached.

3. Bill Relief Disparities

Instances where business energy companies neglect passing on bill reliefs to eligible customers have been reported. Customers entitled to reduced rates based on specific criteria might miss out due to oversights by energy providers.

EDF’s disclosure in January 2023 revealed that 2,000 business energy customers hadn’t received state-funded discounts due to ‘system issues.’ When companies fail to apply these discounts, customers end up paying more than they should. Staying informed about entitlements and ensuring receipt of entitled bill reliefs is crucial.

4. Contract Expiration Notifications

Business energy companies often overlook notifying customers about expiring contracts, leaving them vulnerable if unaware of their contract’s end date. Instances like British Gas Business’s failure to provide notice or blocking customers from switching due to expiration issues highlight this problem.

Customer awareness regarding contract expiration is vital. Regularly reviewing contract terms helps businesses stay informed about potential changes or updates that could affect their bills.

Staying vigilant ensures businesses aren’t caught off guard by expiring contracts and unexpected bills. Transparent and timely contract notifications from energy companies would further empower customers to make informed decisions.

5. Decoding Rising Energy Prices

While underlying energy costs remain relatively stable, business energy prices continue to soar. What’s behind this disparity? Hidden costs and fees concealed from customers hold the key.

Brokers adding commissions prompt suppliers to add their commissions, often equivalent to the broker’s. This undisclosed markup varies between suppliers, contributing to higher overall costs.

Suppliers introduce schemes enticing customers into more expensive contracts under the guise of long-term cost-effectiveness. However, these schemes often prove pricier than current contracts.

Early contract termination fees are another factor. These substantial fees discourage switching and lock customers into long-term agreements. These costs, undisclosed in advertised prices, accumulate, burdening businesses.

Additionally, wholesale charges levied by suppliers offset potential savings from market price fluctuations. Awareness of these charges aids in effective energy cost management.

In essence, the surge in business energy prices is attributed to undisclosed fees and costs unbeknownst to customers.

After reading this post have you used an Energy Broker before? Think you might be overpaying?

Get started today, our team of Energy Switching Experts are ready to help you, you have nothing to lose and everything to gain.

All you need to do is click the Save Now button below and fill in the short form, they’ll then carry out a free health check and advise you of your options to switch & save. It’s as easy as that!

Get your best business energy rate, switch & save now! Click the “Save Now” button & fill in our short form. One of our Energy Switching Experts will contact you. It’s as easy as that!


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