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If you are an SME who has used a broker to negotiate your energy supply in the past, you may have a claim for substantial compensation from your energy supplier for secret commissions passing between the broker and the energy supplier.

For many years, brokers would sell businesses a service to get them a better deal on their energy bills. Customers were led to believe that the broker was acting solely on their behalf and with the customer’s best interests in mind. In very many cases the broker will have received a secret commission from the energy supplier the detail of which was kept from the customer. That commission was then added to the energy price the customer paid.

Over the past few years, Ofgem, the energy regulator, has highlighted the inadequacy of disclosure of commissions. Practices are at last changing but this does not affect claims for failure to provide full disclosure in the past.

The payment of secret commissions give rise to a number of claims for compensation not only against the broker but also against the supplier. Claims may go back many years.

If you used a broker and suspect that they may have received a commission from the energy supplier without disclosing it to you, please contact the energy commission team at Edwin Coe. In meritorious cases, we are prepared to act on a ‘no win; no fee’ basis.

David Green discusses secret commissions paid to energy brokers

Claim back the secret commissions paid to your energy brokers

Contact our Class Action Litigation Team
telephone: 020 7691 4000
or email: enquiries@edwincoe.com

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Class Action Litigation

Claims Against Energy Supply Brokers For Secret Commissions

Edwin Coe LLP represents clients who are seeking recompense from Barclays Bank for investment advice particularly in relation to the Absolute Return Fund and the Market Return Fund. On 14 January 2011, the Financial Services Authority ("FSA") fined Barclays Bank Plc ("Barclays") £7.7m for mis-selling two funds - the Aviva Global Balance Income Fund ("Aviva Fund") and the Global Cautious Income Fund ("Global Fund") between 2006 and 2008. It is apparent that over 12,000 customers invested in excess of £690m in the two funds. The FSA found that Barclays failed to take reasonable steps in order to ensure that the advice it gave to customers to invest in those two funds was suitable. Customers were not adequately informed of the significant risks that their capital was open to. Further, the FSA concluded that Barclays' brochures and other documentation about the funds did not warn customers of any risks.

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