With the COVID-19 crisis and the energy price rise still making headlines, organisations across all industries are struggling to break even, and hidden commission is only adding to the stress
Across all industries and sectors, businesses are still struggling to find their feet in the wake of the COVID-19 pandemic. And with the virus once again causing chaos and uncertainty, it’s set to be another tough winter for UK businesses.
Add to this the energy crisis which has been raging for much of 2021, and it’s clear that support is needed. Energy prices have risen exponentially in recent months for both domestic and commercial energy customers, with many of the leading energy providers going under.
On top of all this, hidden commission within energy contracts is causing businesses to pay more than they should for their energy, at a time when budgets are already strained to breaking point. Understanding more about hidden commission is the first step to getting a fair price for energy contracts, so here’s everything you need to know.
What is hidden business energy commission, and how is it impacting your organisation?
COVID-19 and rising energy prices are already more than enough for businesses to have to contend with over the winter, yet many energy brokers are taking advantage of the chaos surrounding business energy to sneak hidden commission into their preferred deals. While these contracted are sold to businesses as the best available deal, they actually include extra costs that organisations shouldn’t have to budget for.
This is made possible by the fact that business energy contracts are far less regulated than domestic ones, which in turn gives unethical brokers free rein to take fees from suppliers in exchange for recommending them to clients, whether theirs is the best deal or not. All details surrounding this commission tend to remain undisclosed within the contract, hidden within the actual energy costs.
In layman’s terms, this means business across all sectors have been paying too much for their energy, simply to line energy brokers’ pockets.
Having suffered from this experience themselves, claims management specialists, Winn Solicitors pursued their brokers for compensation and are encouraging other organisations to do the same. CEO of Winn Group, Jeff Winn, says this experience has cemented the claims specialists’ commitment to ensuring organisations successfully recoup their losses.
Winn says: “Like many businesses we believed that the energy brokers we worked with had our best interests in mind when negotiating contracts on our behalf. We believed we were being sold the most competitive contracts.
“However, the truth is that hidden within our contracts were inflated commissions and pricing that was not genuinely based on the wholesale rate of gas and electric.”
Winn continues: “As a result of our experience we are now committed to raising awareness and helping businesses understand that, if they have been mis-sold an energy contract, we can help them to recover compensation after being mis-sold a business energy contract.”
There is support available for businesses paying more than they should
Legal representation is offered by Winn Solicitors on a no win, no fee basis to assist in cases of mis-sold energy claims. This means that any fear about the prospect of legal costs if you fail to recoup your losses is removed. As such, seeking justice is now more accessible than ever for organisations across the UK. This is welcome as, according to energy regulator Ofgem, charities, businesses and public bodies are spending £25 billion on their energy every year.
Winn Solicitors have committed to helping businesses win back between 10 and 20% of their energy spending, with their own mis-sold energy contract claim set to be around of 20% of energy costs. Not only that, but they are also helping organisations break out of mis-sold contracts and move onto ethical and transparent alternatives which also promote 100% green energy.
Has your business fallen victim to hidden business energy commission? Find out more about how Winn Solicitors can help your business here.