Calculating Refunds Due

My broker assured me that their services were free and I don’t remember paying any commissions. How can I find out if I am due a refund, and how much would that even be?

Ask Our Solicitors

Associate Solicitor – Business Energy Claims
Sadaf Khan

Q

My broker assured me that their services were free and I don’t remember paying any commissions. How can I find out if I am due a refund, and how much would that even be?

A

This is a very common scenario faced by businesses we work with. It can be difficult to understand exactly how your business lost out, at least at first glance.

In a sense, your broker’s claim is not unfounded. The broker was not paid directly by you. Instead, the broker’s commission was added onto the price of energy paid on your contract.

The cost of this commission was dependant on a few things, notably the length of your contract. It is no surprise therefore that your broker may have recommended a longer-term contract, irrespective of whether it was the right decision for your business.

While the value of each claim is entirely unique to each business, you can watch a short animation illustrating how a claim is calculated here.

I would recommend gathering all relevant documentation to determine if you are entitled to a refund. This includes the contract itself, any correspondence with the broker, and any invoices or statements you have received.

Sadaf

Within this documentation, read carefully to determine whether there is any mention of commissions or fees that the broker may mention from the energy supplier. If there is no mention of such fees, you may have a case for a refund.

While 70% of UK small to medium businesses have used an energy broker in the past, it’s important to have an expert review your contract to see if you were impacted.

These contracts can be ongoing or historical. Solicitors will never take action that could potentially leave their clients worse-off.

Without checking your contracts and documentation, we would not be able to give an approximate amount you may be owed. It is important to note that as much as 30% commission was added to every energy bill without your knowledge.

In some cases, the claim may exceed 50% of a business’ energy costs over the past decade. In a time where energy costs are soaring for many businesses it is absolutely worth investigating further.

As winners of the “Best Business Energy Claims Specialist” award at the SME Legal Awards 2023, we are experienced in settling these cases for our clients.

Feel free to refer to our FAQs page if you have any more questions about the nature of these commissions or the claims process.

See below for additional links to equip you with the best chance in succeeding with a potential claim.

SME Legal Awards Winner 2023

Helpful Links

Watch our short animation explaining the process of “Secret

Watch our short animation explaining how we calculate your claim

Call our Senior Advisor here, or alternatively request a call-back to discuss your claim

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