Energy Brokers (also known as Third Party Introducers or TPI’s) are meant to work for businesses in order to procure commercial gas and electric contracts. To do this, they are paid a commission by the energy companies, usually on every unit of energy you use, per kWh as its called. So every time you turn a light on, put the heating on, power a computer or machinery the Broker is making money every time your business uses gas or electricity.
Due to the sensitivity of the role Brokers play for business they are required to recommend the best deals for their customers and divulge all commission upfront. Unfortunately for millions of businesses, until recently, the market was not regulated allowing brokers to work at their own discretion.
This has led to many cases of Brokers not offering the best deal for the business but the deal that offers the Broker the best commission. In majority of cases they also did not declare any commission they had made at all! In some cases, even pretending to work directly for the energy supplier in order to trick the Business owner. If any of the above has happened to you then you were very likely Mis-Sold an Energy contract.
As most businesses would not be told if they have been Mis-Sold they would not be aware or know how to find out.
That's where our panel of specialist solicitors can help. They specialise in helping business identify Mis-Sold energy contracts and recovering any commissions the business are intitled to.
Our team consists of highly qualified and motivated professionals, who are all experts in their field. With many years of experience in the industry, they have the expertise to provide comprehensive, first-rate services to our clients.
You provide us with the energy contract, proof of relationship with the broker and 2 bills; that's it
We'll need you to sign a Letter Of Authority (LOA), this allows us to speak with the energy company and the broker on your behalf
Our industry leading costing partners will then produce a free report from which they will let you know if you have a claim and the potential value of the claim.
This is key as many clients have been told they have a claim when in reality they don't or have been told the value is a lot more than it actually is
Once we have established you have a strong claim we will then introduce you to a solicitor from our panel who specialises in your type of claim.
They will have experience of helping businesses like yours with claims of similar sizes to yours... of course, on a 'No win No Fee' basis for your protection
Your solicitor will fight the claim on your behalf. In most cases you don't go to court and the Solicitor will keep you informed of any developments.
Once successful you will receive ALL the compensation (minus the solicitors fee) and you will be free to spend the money as you choose!
This depends on how much commission the broker added to your price of energy, how much energy you used and how long the contract was for.
We have found the average claim to be 25% of the total paid for energy during the contract but there have been many cases where the mark up is significantly more and so the claim a LOT higher!
So, you can claim all the commission the Broker made!
Here's an example of how the broker made their money...
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In this example from your annual bill of £100,000 the Broker would make £25,000 Commission, that you could claim!!!
If you had a 2 year contract then it would be £50,000 commission and if a 3 year contract you could claim £75,000 commission!!!