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.