Your Independent Energy Advisor
Compare Energy Tariffs
Get a comparison & start saving now!
It’s a sad fact that in most walks of life there are those who are happy to con, trick and lie their way in order to achieve success.
Business Energy is unfortunately not insusceptible to these issues. While most by far of members, regardless of whether the providers themselves or TPIs (Third Party Intermediaries), are straightforward, respectable and concentrated on getting you a decent arrangement, there are the individuals who will attempt any trick conceivable to fool you into a vitality bargain that advantages them and just them.
Here's an overview of the most recent tricks in business energy.
These rates too good to be a real scam
We’ve recently heard from a number of customers that they’ve been offered some staggeringly cheap rates for their energy contract, prices that despite our bulk-buying discount we cannot apparently match. Has our business lost its touch? No of course not, it’s another scam.
Clients are visiting genuinely amateurish looking sites offering diamonds of guidance, for example, "Least expensive Gas and Electricity Supplier (sic)", "R U paying excessively?" and are then offered an impressive rate, which bafflingly changes when the client acknowledges the offer, as the "market has moved".
Utter hogwash. If you’re offered a rate that’s “too good to be true” then it is. It is either a totally fake rate that will change when you acknowledge (our own won't) or it is a component of the cost and not the entire value (our own are). Our best counsel: 1) don't utilize amateurish looking sites 2) never acknowledge a value that all of a sudden changes, there might be a valid justification, yet it is far fetched, so consistently call another brokers (ideally us!) and check that market!
The Security Deposit Scam
Customers get a call from an individual professing to represent the "Bank of New York" or some other fabulously named organization. The individual at that point continues to advise the client that the change to their favored provider has been ineffective and that they have to quickly pay they "Bank of New York" a solid gross of money as a security store that will be transferred toward this supplier
It won’t be.
It is fact that in some instances energy suppliers will approach a business for a security store on the off chance that they are regarded to be a high-risk business, for example, a beginning up, having a low credit score, or having uncleared supplier obligation or CCJs. This solicitation will consistently originate from the supplier, to be paid to the supplier. Your agent might be the emissary, yet they won't be the beneficiary.
If you receive a call claiming to be the "Bank of New York" or some other association other than your provider or believed energy agent and they request a payment from you for your energy supply then end the call and for peace of mind call your energy broker to a) check your energy contract is all ok and b) whether you are genuinely required to pay a security deposit. In all probability you won’t and this scam will be to expose for exactly what it is.
The Utilities Registration Service Scam
Customers receive a call from the official-sounding source asking himself or herself the ‘Utilities Registration Service’ or ‘Metering Registration Service’ or something related.
No such official bodies exist.
The visitor will tell you that there is a problem with your energy supply and that you need to quickly switch supplier. People will then support that you should switch.
This is a simplistic cold call scam, assuming to be an official body and attempting to take you to sign up to a lower value business energy contract.
Don’t let them win, put the phone down and call Lloyd Energy, even if you’ve no plan to switch supplier we can reassure you that all is ok with your energy supply and that there is nothing to trouble about.
The Editing Suite Scam
Business Energy deals are mostly executed on oral contract recordings. A popular TPI or supplier will record your whole call or calls including your full verbal confirmation of each contract.
In doing so this guarantees that the supplier knows accurately what you agreed to, what you were told, and what you demand from them.
Unfortunately however some parties go to excellent measures to ‘fake’ call records, some are even understood to have extended editing suites to fuse together supporting responses to questions a business was never asked.
While most there is small that can be done to stop a determined fraudster, it is your right to require a copy of any recording, and certainly it would be reasonable to demand to know that your entire communication has been recorded and that you wish to get this in full before you consent to any oral contract or otherwise.
If any difficulty, put the phone down and call someone you can trust like Lloyd Energy.
The Just Moved In Scam
Largest business energy scam happens around the time you jump into new premises.
The con is an unsubtle one, it is simply pressurized transfer, with 10, 20, maybe 30 calls in fast succession until your willpower breaks or the fear stories you are existing said force you to act.
You will be told that as a party running into proof you must have a valid energy deal and if you don’t sign up quickly you will have your supply cut off and/or will be paying expensive rates.
This is totally untrue.
When running into a proof you will acquire the responsibility to be supplied, but not the contract, of the current supplier. The current supplier will supply you until you tell them you don’t require them to anymore.
As an uncontracted customer you are free to leave the supplier at any point or indeed agree a deal with them at any point.
There is no pressure to act quickly. You will be placed on ‘deemed rates’ which are higher than contracted rates but not excessively so, and many suppliers will back-date your contracted rates to cover the ‘deemed’ period if you agree a deal.
Always stay calm in the face of pressure. Do not fall for the tricks. Call someone like Lloyd Energy and we will be able to help you identify your supplier and ensure you get into an advantageous contract as soon as possible. We can even negotiate to get your rates backdated to the day you moved in.
The Tag Team Scam
You will obtain a call from a third party who will require you if you’ve changed energy supply, to whom you have changed and what TPI you used.
A small while later another person will call you and claim to be from the TPI you apprised the early caller of, and will tell that your transfer to the supplier is wrong and that you need to agree with a new deal with a supplier of their recommendation.
This is the tag company scam. Nevermore give out any details to a casual caller, eternally ask for their website and say you will call them after if you like what you see. Review the website out, if it seems ok, and shows to be your real TPI then you’re secure in the information it was a genuine call. If it isn’t your preferred TPI, do not call back!
How we can help
Even if you are not a Lloyd Energy customer we are forever happy to help and guide businesses that are uncertain of whether they are dealing with a reliable supplier or TPI. Just give us a call and we’ll put your mind at rest or confirm your doubts.
If you have details of any other scams please do get in touch so we can warn other businesses not to fall into certain traps.
Energy Consultant
We compare over 45 energy suppliers to find you the best deal
