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

UK Government must step up global AI safety...

August 17, 2023

Secrets of Success: Branwell Moffat,  Founder and Director...

November 29, 2023

House of Lords votes to delay Sunak’s Rwanda...

January 22, 2024

GDPR fines hit €1.5 billion in first half...

July 13, 2023

Think tank calls for skilled migrants to fuel...

August 31, 2024

Fleek secures $20.4M to bring global wholesale second-hand...

November 12, 2024

Lord Sugar enjoys payout after selling stake in...

April 4, 2023

Pocket money toys see sales surge as parents...

January 21, 2025

TalkTalk to axe hundreds of jobs as broadband...

December 16, 2024

Thousands cancel Netflix or Prime Video as UK...

August 5, 2022

    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

    • How to create an inspiring workspace

      June 26, 2025
    • Jill Biden’s ‘work husband’ runs for cover as privilege protection crumbles

      June 26, 2025
    • Poll: Majority of Republicans back Trump’s strikes on Iran; most Americans fear getting dragged into war

      June 25, 2025
    • Senate Republicans look to sweeten Medicaid pot to silence dissent on Trump’s ‘big, beautiful bill’

      June 25, 2025
    • Judicial nominee shuts down ‘wildly inaccurate’ claims that he’s Trump’s ‘henchman’

      June 25, 2025
    • Tesla’s European sales fall for a fifth month in a row

      June 25, 2025

    Categories

    • Business (8,315)
    • Investing (2,072)
    • Politics (15,806)
    • Stocks (3,168)
    • 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