Understanding Hidden Commissions in Business Energy Contracts: Protect Your Business with SortMyCash
At SortMyCash, we understand that running a successful business requires keeping a close eye on expenses, including energy costs. Unfortunately, hidden commissions in business energy contracts can lead to higher charges, affecting your bottom line. We’ve partnered with expert solicitors to help businesses like yours uncover these hidden fees and seek fair compensation, which on average can be up to £25,000 on a No Win, No Fee basis. In this article, we’ll explain the concept of hidden commissions, how they impact your business energy contracts, and the tactics brokers and suppliers might use to hide these charges.
What are Hidden Commissions?
Hidden commissions are undisclosed fees that energy brokers and suppliers add to business energy contracts. These fees can be considerable and so they are often concealed and not disclosed to the client. Instead of being transparent about their commissions, brokers and suppliers may inflate the cost of energy to increase their profits.
How do Hidden Commissions Impact Business Energy Contracts?
Hidden commissions can have a significant impact on your business energy costs:
1. Increased energy rates: Undisclosed commissions can result in inflated energy prices, causing your business to pay more for the same amount of energy. Even if on the face of it you are paying less for your energy from savings that they have made, you could have received much higher savings if it weren’t for these secret commissions.
2. Lack of transparency: Hidden fees make it difficult to compare energy contracts accurately, preventing you from making informed decisions.
3. Unfair practices: When brokers and suppliers fail to disclose their commissions, they breach their duty to act in the best interests of your business, leading to mis-selling claims.
Tactics Used by Brokers and Suppliers to Hide Commissions:
Brokers and suppliers may use various strategies to hide their commissions, including:
1. Failing to disclose commissions: Many brokers and suppliers simply neglect to inform businesses about their commissions, resulting in a lack of transparency and opening the door to mis-selling claims.
1. Burying fees in the fine print: Commissions may be hidden within the contract’s terms and conditions, making them challenging to identify. Whilst this is a grey area, it is certainly worth taking a look.
2. Bundling charges: Brokers and suppliers might group their commissions with other fees, disguising the true cost.
How SortMyCash and Our Solicitors Can Help:
At SortMyCash, we’re dedicated to helping businesses like yours uncover hidden commissions and seek fair compensation. Our partnership with experienced solicitors ensures you have access to expert legal guidance throughout the process on a No Win, No Fee basis. We’ll review your business energy contracts, identify any hidden fees, and assist you in taking the necessary steps towards fair compensation and can also help with better energy deals.
Hidden commissions in business energy contracts can lead to increased costs and unfair practices. By working with SortMyCash and our trusted solicitors, you can protect your business from these hidden fees and ensure a more transparent, cost-effective energy solution. Contact us today to learn more about how we can help you uncover hidden commissions and secure fair compensation for your business.