Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Thousands across England and Wales join £2bn claim against rogue energy brokers

by October 24, 2023
October 24, 2023
Thousands across England and Wales join £2bn claim against rogue energy brokers

Harcus Parker, the commercial litigation firm specialising in bringing and defending complex group claims, today reveals that thousands of organisations across England and Wales have already joined its £2bn group litigation aiming to claim money back from rogue energy brokers.

Among those to sign up to the claim are 2,801 shops and restaurants, 703 health and beauty businesses, 477 professional services businesses, and 164 sports and community groups.

The practice of overcharging businesses for their energy costs was first revealed in 2021 when an investigation by the UK’s energy regulator, Ofgem, showed that brokers or third-party introducers (TPIs) might have been charging businesses thousands of pounds in energy commissions without customers’ knowledge.

It is believed that millions of organisations could be affected and are in a position to claim financial compensation, ranging from a few hundred to a few hundred thousand pounds.  Many organisations will be unaware that they were affected as the secret commission was hidden within the unit rate of energy that they paid.

With winter fast approaching, Harcus Parker is using today’s announcement to drum up further awareness of the claim and alert more organisations and independent businesses that they are well within their rights to claim.

While a core focus of the claim is to help organisations get their money back, Harcus Parker is also looking to drive lasting change in the industry to prevent similar scandals from occurring.

Although Ofgem heavily regulates the consumer energy market, the commercial energy market faced fewer restrictions. Brokers took advantage of this by guiding commercial customers towards higher energy rates (usually expressed as the price per kWh of energy) to their own advantage and that of the energy supplier.

Speaking on today’s announcement, founding partner Damon Parker said: ‘We’re delighted that so many organisations have signed up to join the claim. Unfortunately, it has revealed to us how widespread and costly this scandal was for businesses, faith groups, and community organisations. Unscrupulous energy brokers added undisclosed commissions of up to 10p per kWh, meaning that some larger energy users overpaid by hundreds of thousands of pounds.

“We urge organisations of all sizes from across society to exercise their legal rights and join the claim. We hope to recover compensation amounting to the difference between the price negotiated and the price that a broker acting in its client’s best interest would have achieved.”

Read more:
Thousands across England and Wales join £2bn claim against rogue energy brokers

0
FacebookTwitterGoogle +Pinterest
previous post
Byron Donalds responds to AOC’s ‘experience’ jab: ‘She doesn’t know what she’s talking about’
next post
Two-thirds of SMEs find it difficult to retain valued employees

You may also like

Government gives 14 SMEs £2.5M to accelerate their...

May 11, 2023

Ocado shares surge on Amazon takeover rumours

June 23, 2023

Yuri Milner Discusses Humanity’s Place in the Universe...

December 7, 2022

Playground Funding Options

February 10, 2023

Landmark Court of Appeal Ruling Promises £21bn Payout...

October 25, 2024

David Beckham-backed esports firm signs big sponsorship deal...

September 26, 2022

Hunt confirms cut to ‘unsustainably expensive’ business energy...

January 5, 2023

How to optimize your corporate spend

November 20, 2023

Klarna slashes 1,000 jobs as AI reshapes business...

August 28, 2024

Thames Water Proposes 56% Bill Hike Amid Financial...

April 19, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • House Dems urge GOP to condemn DHS for handcuffing Rep Nadler staffer, order Noem to testify

      June 3, 2025
    • EXCLUSIVE: Comer hails DOJ’s Biden probe as House investigation heats up

      June 3, 2025
    • Trump reaffirms hard-line on Iran nuclear deal: ‘will not allow any enrichment of uranium’

      June 3, 2025
    • Trump criticizes Rand Paul over tax bill opposition: ‘Votes no on everything’

      June 3, 2025
    • HHS ends Biden-era COVID-19 testing program that bled taxpayers years after pandemic

      June 3, 2025
    • The FTC Event that Wasn’t: The Attention Economy Workshop Misses an Opportunity for Meaningful Discussion

      June 3, 2025

    Categories

    • Business (8,129)
    • Investing (2,003)
    • Politics (15,490)
    • Stocks (3,122)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved