OFGEM and unscrupulous brokers. Has your business been effected?
Updated: Jul 7, 2021
Many of our clients that have used energy brokers in the past were completely in dark about how those brokers get paid for their procurement services. Has your broker told you that "it won't cost you anything" or "we get paid from the supplier" in the past?
Well, this isn't the case.
Brokers get paid by adding a commission uplift into the price they present to you. But do you know how much?
OFGEM recently released a report of brokers adding HUGE uplift into charities, churches, school and more.
"Providing greater transparency and tackling unscrupulous brokers will help microbusinesses get a better, fairer energy deal," said Philippa Pickford, Ofgem's director of future retail markets, consumers and markets.
"This is more important than ever as microbusinesses emerge from the challenges posed by the Covid-19 pandemic
These businesses then struggle to keep up with their energy bills but by that time the contract has been signed.
We operate very differently, we support our clients throughout the energy contract, dealing with energy suppliers and providing solutions and advice to reduce consumption.
The most popular aspect of our service, however, is the fact that we disclose all commissions that are added to the presented energy price.
The Electric Board is pioneering transparency and disclosure as standard, in a market that has previously been renowned for high commissions and hidden costs.
We have operated in this sector since 2011 and recognise that the ongoing success of our business is due to building long term relationships with our clients. In order to get the best energy deal, businesses need more than a pricing tool.
The Electric Board comprises of a team of industry expert energy procurement and business utility specialists'.
Our main focus is to evaluate all aspects of energy consumption for our clients. Often within a wide range of organisations, spanning all major industries including corporate, multi-site, SME, sole traders and charities.
We will take a more detailed look at the consumption habits and needs, procure the best energy deal on the market for your business, and provide case studies and easy to implement tips to help you improve your carbon footprint.
Our key differentiator is that unlike other energy consultants, energy comparison sites, and brokerages, we operate transparently in regards to our commissions. We believe a relationship based on trust and mutual affinity can produce the best results.
Call us today on 0191 466 1213 for a no-obligation chat with one of our team.