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CYK ASSOCIATES

Navigating the UK Energy Landscape: Business Energy Compensation & Mis-sold Energy Contracts

  • cfrancisco87
  • Jul 29, 2024
  • 2 min read

Soaring energy bills are a major concern for UK businesses of all sizes. The government has implemented schemes to ease the burden, but navigating the complexities can be daunting. This blog sheds light on two key aspects:


  • Business Energy Compensation Schemes: We'll explore the recently closed Energy Bills Discount Scheme and discuss potential future support measures.

  • Mis-sold Energy Contracts: We'll address how hidden fees and misleading practices can inflate your energy bills and your options for reclaiming compensation.


Business Energy Compensation Schemes: A Recap

Electricity pylons

The Energy Bills Discount Scheme (EBDS), which ran from 1st April 2023 to 31st March 2024, provided automatic discounts to eligible businesses on their gas and electricity bills. The scheme specifically targeted non-domestic customers on fixed-price contracts signed on or after December 1, 2021, as well as those on deemed or out-of-contract rates, subject to a minimum threshold.


The EBDS discount was applied directly to unit rates (kWh) for both gas and electricity, helping businesses manage rising energy costs during its operational period. However, it's important to note that the scheme may have had limitations, such as a maximum discount amount or exclusions for certain types of businesses.


While the EBDS has concluded, businesses can still explore other options for managing energy costs. Shopping around for better deals from alternative suppliers and implementing energy-saving measures in your workplace can make a significant difference.


Mis-sold Energy Contracts: Reclaiming What's Rightfully Yours

While the EBDS offered temporary relief, some businesses might be facing inflated bills due to mis-sold energy contracts. This happens when an energy broker prioritises their commission over securing the best deal for your business. Here's what you need to know:


  • Hidden Fees: Brokers may embed undisclosed fees within your unit price, significantly increasing your energy costs.

  • Misleading Practices: You may have been pressured into signing a contract that wasn't tailored to your business needs.


Signs You Might Have a Mis-sold Contract:

  • Your energy bills are inexplicably high compared to your usage.

  • You have limited knowledge about your current contract details.

  • The broker focused heavily on commission structures during negotiations.


Making a Claim for Mis-Sold Energy:

If you suspect a mis-sold contract, you don't have to navigate this alone. The Energy Ombudsman offers a free service to resolve disputes with energy suppliers.


As a specialist firm, CYK Associates can analyse your situation and guide you through the claims process.


CYK Associates: Your Partner in Energy Fairness


At CYK Associates, we understand the complexities of the UK energy market. Our team of experts can help you determine if you have a mis-sold contract and assist you in claiming the compensation you deserve.


Ready to Take Control of Your Energy Costs?


Visit our dedicated services page https://www.cykassociates.co.uk/ to learn more about how we can help you navigate the UK business energy landscape. We're committed to ensuring you get a fair deal on your energy supply.


Important Note: This blog is for informational purposes only and does not constitute legal advice.


Looking for the latest news on UK business energy support?


Stay tuned for our new blogs where we'll dissect any new government announcements regarding business energy compensation.

 
 
 

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