Why Mis-selling Energy is Costing UK Businesses Billions
Business energy mis-selling has become an industry-wide problem, the extent of which has only recently been revealed.
Research in recent years has found that over the past 10 years, energy firms have had to pay back the equivalent of £100,000 a day, every day, due to non-compliance with regulations.
Mis-selling was the number one reason within this term, with charges totalling a staggering £40.5m.
Energy brokers have consistently overcharged businesses in a number of ways, with an Ofgem announcement indicating that an estimated 95% of microbusinesses using an energy broker were likely to be mis-sold in a sector of the industry that lacks official regulation.
Hidden commissions, not getting the best deal available at the time, and choosing deals with companies that favour the broker rather than the best interests of the client, were all ways which led to companies paying over the odds for their energy bills to the tune of £2bn, according to a report in the Guardian.
Little has been done to date to counter the issues created by a section of a 3,000 strong broker population across the UK, with Ofgem promising to crack down on unscrupulous brokers.
Their efforts will see new responsibilities for energy suppliers in relation to monitoring broker conduct, and make sure commissions are clearly stated, along with other key contract details.
How can you make a business energy claim?
If you are a business and have used the services of an energy broker, the chances are you may well have been mis-sold on your energy contracts, paying inflated prices without even knowing it.
Don’t worry; you’re not alone on this and we can help. To get your free assessment of your paperwork, call us today and we will start the process with the assistance of our energy specialist partner PanoServe, who are experts in assessing business energy claims. If, after extensive study of your paperwork, we find mis-selling, our team can drive your mis-sold energy claim to a successful conclusion.
All it takes is one initial call, and the rest is done for you by a team of legal professionals.
How to make a business energy claim with Winns
Our team works on a no win no fee basis to get the compensation you deserve. If the claim isn’t successful, we won’t charge you for our service in relation to a mis-sold energy claim.
We work on a fixed percentage success fee, which means you know how much we will charge from the outset of the claim; with no excess fees and no spiralling costs should your claim become more complex.
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