Our average claim looks a little like this:
Contract 1: Gas Contract Length: 2 Years Energy Broker Rate (Uplift): 1 p/kWh Annual Consumption: 523,151 Energy Broker Commission: £10,463.02
Contract 2: Electricity Contract Length: 5 Years Energy Broker Rate (Uplift): 0.4 p/kWh Annual Consumption: 764,894 Energy Broker Commission: £15,297.88
Total Combined Commission: £25,760.90
A TPI is the acronym for ‘Third Party Intermediary’ – also known as energy brokers or energy consultants.
This really depends on a number of factors and it is difficult to say exactly how long your claim will take. We have had claims settle within two weeks and others may take a number of months.
In some ways it is similar to PPI for the consumer market. This is for the non-domestic energy market and relates to gas and electricity bills only.
We will complete the initial enquiries into your claim on a no obligation basis and at no cost to you. Once we have established whether you have a claim, to proceed you will need to sign an agreement setting out our Terms & Conditions, this will set out clearly our fees upon achieving a successful outcome.
We take the case on in anticipation of a successful outcome, some people call these types of agreements “no-win, no-fee agreements”.
In the event your claim is successful we will deduct our fee (set out clearly and explained to you in full when you begin your claim) from the compensation awarded.
Many clients have a good relationship with their energy broker and this is understandable as you put your trust in them to get you a good deal for your energy. Often where this trust has been built up it results in the larger claims because brokers can take advantage of the trust you place in them.
No, we are not an energy broker, we do not sell energy contracts.
There are no figures on the scale of mis-selling in the industry, and certainly there are brokers who correctly review the market and describe the options accurately whilst demonstrating transparency over their fees with their clients. However, if your broker did not disclose to you how much they earned at the very least, they have not demonstrated transparency and you could have a claim.
There are many ethical and transparent brokers in the market and not all are mis-selling or hiding their fees. However, our experience is that the vast majority of cases involve at least one area of mis-selling.
Some brokers really do add value added services for your benefit, that’s good. However, if you don’t know with certainty how much you are being charged, you can’t make an informed decision about the additional services you may be receiving.
Unfortunately, the supplier will probably not disclose this as the supplier and broker have an arrangement whereby the supplier must leave it to the broker to answer questions about commissions, we think this is wrong. It is also true that some suppliers rely heavily on the introductions they get from some brokers.
You could, but if there’s not check in place to ensure you are told not just the truth, but given all the information you need to make an informed decision, then you can’t guarantee you are have information that is both correct and complete. We have experience of brokers giving both incomplete information and even actively misleading clients.
There is a small chance you may have to. Only a small number of cases proceed all the way to court but if this happens, your solicitor will be there every step of the way to guide you.
Office are open, 9:30am to 4:30pm Monday to Friday, except bank holidays.
Case Study: Business Energy Claim Recovery
A manufacturing business, mid-sized company located in Birmingham, had been using the same energy broker for five years to manage their business energy contracts. They had always trusted that their broker was obtaining the best possible deals on their behalf. However, after noticing irregularities in their energy bills, they decided to seek a second opinion.
The main challenge was to determine whether the business had been overpaying on its energy contracts due to hidden fees or mis-sold contracts. They approached HMEC Online to thoroughly review their past and present energy contracts and bills to identify any irregularities and pursue a business energy claim if necessary.
Our team of experts at HMEC meticulously analysed the energy contracts and bills over the past five years. We found several instances where the business had been charged hidden broker fees that were built into their energy rates, which had not been clearly disclosed by their energy broker.
After a careful review, it was clear that the business was entitled to make a substantial business energy claim due to the mis-sold contracts and hidden fees.
HMEC helped the Manufacturing business file a business energy claim, which resulted in a significant refund of over £50,000. This case served as a wake-up call for the business, which has since been more diligent in reviewing its energy contracts and ensuring transparency from its broker.
In addition to the financial recovery, the case also resulted in substantial long-term savings for the business, as they are now more aware of the potential for hidden fees and can ensure they are getting the most cost-effective energy contracts.
This case study demonstrates how important it is for businesses to review their energy contracts and understand all the charges they are paying. If in doubt, seeking expert help can result in significant savings and refunds. HMEC Online is dedicated to helping businesses make successful business energy claims and ensuring they are not overpaying on their energy contracts.