Rogue Energy Brokers Con Small Businesses Out of £2billion a Year

Rogue Energy Brokers Con Small Businesses Out of £2billion a Year

Recent revelations have shed light on a disconcerting reality: small businesses have fallen victim to a staggering £2 billion con orchestrated by deceitful energy brokers. These unscrupulous entities, under the guise of offering favorable gas and electricity contracts, have ensnared unsuspecting SME’s into long-term deals that not only lacked value but also inflated operational costs significantly.

Startling documents presented to the energy regulatory body OFGEM have unraveled a distressing pattern, demonstrating how charities, churches, and care homes, among other small businesses, have fallen prey to these unregulated brokers. Concealed and inflated commission fees, cleverly woven into the fabric of contracts, surreptitiously bloated energy bills, amplifying the financial strain on already vulnerable businesses and organizations.

During the peak of the energy crisis, these rogue brokers shamelessly inked inflated-rate contracts, exacerbating the predicament for numerous businesses. OFGEM’s knowledge of these rogue energy brokers spans over a decade, a matter widely highlighted by the media. Yet, the industry continues to grapple with the repercussions.

Understanding Energy Brokers

Energy brokers ostensibly serve to secure the best gas and electricity deals for businesses, handling tasks such as supplier transitions, contract terminations, and sourcing optimal deals. However, the absence of regulation has led to the infiltration of unscrupulous entities that prey on small firms, charities, and specialized organizations.

A Call for Regulation

The clamor for stringent regulation in the energy broker domain has grown louder. Stakeholders urge energy regulators, like OFGEM, to clamp down on these rogue brokers responsible for duping businesses and organizations. Demands echo for transparency, urging gas and electricity suppliers to disclose remunerations to the intermediaries marketing deals on their behalf.

In a poignant message to OFGEM earlier this year, business groups emphasized, “we cannot afford to wait for further reviews on this issue. We have to support some of the biggest voices representing the UK’s most hard-hit sectors. If you continue to fail the business community by allowing this exploitation to continue, we will raise this direct with the government” [source].

Empowering Businesses with Energy Revolt

Amidst this unregulated landscape, Energy Revolt emerges as a beacon of hope, putting the power back into the hands of UK businesses. Our mission: to combat unscrupulous brokers and suppliers by empowering businesses to make informed energy procurement decisions, devoid of high-pressure tactics or deceptive ploys.

With our revolutionary business energy cost tracker, you gain leverage over brokers, enabling informed and prudent purchasing decisions. If you want to learn more, call our friendly team on 02920 025 560 or email info@energyrevolt.co.uk and we will get back to you as soon as possible.

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