Recent years have seen small businesses taking legal action against major energy companies like EDF, Shell, and British Gas, potentially seeking billions in compensation for mis-sold energy contracts. The heart of these claims lies in energy brokers securing undisclosed commissions from energy companies without their clients’ knowledge. In October 2022, Ofgem, the energy regulator, took decisive action to close the loophole enabling these practices.
An energy broker plays a crucial role as a go-between for UK business owners and energy suppliers, ensuring they secure great energy deals while maintaining quality service. This support is highly valued, with many relying on brokers to negotiate on their behalf.
Following Ofgem’s mandate, all energy brokers must now openly declare any commissions received from clients operating as ‘micro-businesses’ in their contracts, ensuring transparency.
Reports reveal that numerous UK business owners using energy brokers may have had undisclosed commissions added to their contracts without their knowledge meaning they were mis-sold energy contracts. Interviews conducted by Business Energy Claims show over 90% of affected businesses had used a broker. The average compensation claim is over £25,000, with potential for multimillion-pound settlements. An estimated 2 million UK businesses may be eligible for compensation.
Wondering about your business energy claim’s worth? It depends on several factors like your specific case details, the extent of mis-selling, and the financial impact. We’re here to evaluate your situation for the best path forward.
If you’ve been misled into an energy contract, you might be eligible for compensation covering losses and other impacts like stress or harm to your company’s reputation.
Do you think you’ve been overpaying? Want to pay less and get the best tariff for your business?
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!
