12 min
Bite-sized Legal Update: Claim back the secret commissions paid to your energy brokers Edwin Coe LLP's Podcast
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- Business
Secret commissions paid to brokers have been a bane of many SME transactions over the years with large suppliers from loans to energy contracts. In the supply of gas and electricity, Ofgem, the regulator, has sought to bring daylight to the practice which can lead to the doubling of energy pricing in which the secret commission is added to the rate paid by the customer who is contracting through a broker. In cases highlighted by Ofgem the broker represents the customer in the bargain seeking the best price but the supplier secretly makes the broker a payment that can be likened to a bribe. Customers can claim back the commission and more. In this video interview David Greene explains the principles and what you can do about it.
For further information regarding this topic, please contact David Greene
on +44 (0)20 7691 4000 or email david.greene@edwincoe.com
Secret commissions paid to brokers have been a bane of many SME transactions over the years with large suppliers from loans to energy contracts. In the supply of gas and electricity, Ofgem, the regulator, has sought to bring daylight to the practice which can lead to the doubling of energy pricing in which the secret commission is added to the rate paid by the customer who is contracting through a broker. In cases highlighted by Ofgem the broker represents the customer in the bargain seeking the best price but the supplier secretly makes the broker a payment that can be likened to a bribe. Customers can claim back the commission and more. In this video interview David Greene explains the principles and what you can do about it.
For further information regarding this topic, please contact David Greene
on +44 (0)20 7691 4000 or email david.greene@edwincoe.com
12 min