When the government announced the business energy relief scheme for UK companies, there was little account taken for those that are more reliant on energy consumption.
Energy-intensive businesses, such as manufacturing plants, offices and those in the transport and travel industries, have been struggling with the cost of powering their premises, leading to great uncertainty surrounding their future prospects.
Speaking at the Confederation of British Industry (CBI) conference in Birmingham, Prime Minister Rishi Sunak recently insisted that government support is to become more targeted at those who need the most help.
The Prime Minister addressed the issue, admitting that things have been “horrendously difficult” for energy-demanding businesses.
He added that details of a support plan would be published “in due course”.
In addition, the Chancellor, Jeremy Hunt, is working on a more targeted support scheme at present. Hunt, who was appointed after Kwasi Kwarteng’s controversial and short-lived stint in Number 11, has set out an intention to provide help for the 5.5 million small-to-medium enterprises (SMEs) that make up more than 99% of UK industry.
The additional relief for energy bills could be a lifeline for many assistance-dependent businesses.
This is especially true for businesses that could have potentially been paying more than they should have in the first place if their broker was charging them more than the cost of what they were using.
Energy brokers and third-party intermediaries have been found adding hidden costs onto energy bills in the form of hidden commission. For example, if you are using 10p/kWh but are being charged 12p/kWh, your energy supplier is more than likely paying your energy broker 2p/kWh in hidden commission.
Your broker is there to get your SME the best available deal and, while they are expected to be paid for their expertise, not operating with full disclosure means that an unfair relationship exists.
That is a clear instance of mis-selling and you need to take action.
If you would like to speak to one of our customer service agents to find out how Barings Law can help your business, give us a call on 0161 200 9960 or click the icon at the bottom right of this page to start a webchat. We have experts in recovering money for businesses for unpaid business insurance claims and undisclosed energy brokers’ commission.
We also help our clients with a range of legal issues, including mis-sold motor vehicle finance, pension investments and funeral plans, as well as PPI recovery and claims for vehicles sold in the wake of misleading diesel emission results.
You can find more information about what governmental relief and other assistance your business could benefit from by visiting the Ofgem website.