Recent media reports have discussed how some energy brokers are ripping off businesses by charging large amounts of hidden commission fees. While it is unfortunately true that some brokers are doing this, it does not mean that every energy consultant is guilty. When you procure your energy via a consultant, you get a service that has to be paid for. However, a good energy consultant should be saving you more money than they cost you. They should not only be getting you fair prices which you may not have found by yourself, but they may be offering you other services such as invoice validation and query management.
It must be said that the various new companies who are offering to investigate and potentially reclaim money also need to be paid for their services. They will take a cut of whatever they can reclaim on a “no win, no fee” basis. While this may sound fair, they are modelling themselves on the PPI claims industry, which also does not have an excellent reputation.
What should you do? Ask your broker what fees they charge. If you have a good relationship with them, it shouldn’t surprise you what they are charging you. Consider the work they are doing on your behalf, and ask yourself what you are prepared to pay for those services.