Households face paying hundreds of pounds more on their energy bills to fund PPI-style payouts 🔴 The warning comes after theipaper revealed suppliers may be forced to pay refunds to business customers who paid “secret” commissions on their bills
In some cases, the brokers’ commission can make up around half the total energy costs of a business, adding thousands of pounds to the annual bills of millions of firms across the country every year.started to close this loophole, making it a requirement for brokers to declare their commissions to clients in “micro-businesses”, which are defined as firms with a turnover of less than £1.8m.Following the collapse of companies like Bulb, it has cost around £2.
A spokeswoman for the Utilities Intermediaries Association said: “It will not cost suppliers or their shareholders billions, or anything, because what will happen is that it will be smeared across customer accounts to cover any losses, as already happens in energy markets.It is understood that legal firms will be using accepted case law to target the energy giants for the refunds.
Mr Smith also pointed to a 1949 court case as precedent for the actions being taking on behalf of hundreds of business energy customers.
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