Power Direct Ltd has announced savings and refunds from suppliers to clients this year to have exceeded £1 million. Savings have been achieved by ensuring that clients procure at lower rates, that they only pay for what they use and that billing is accurate.
The Quedgeley based brokerage has reviewed client records to date this year and proudly displayed the figure on their website. It’s a staggering amount, all of which falls back into the pockets of their grateful clients. Energy brokerages typically have the profile of ‘finding the cheapest energy prices’ for their clients, but as MD Anne Williams explains, often the savings are found for clients from on-going investigations. “Obviously we will always present our clients with the cheapest prices that we can get from the market when they are in a position to negotiate. We will also advise them on the best type of contract for their particular needs in terms of length of contract and fixed rates.”
Anne goes on to explain “Our Invoice Validation Service often brings in savings for our clients. We receive our clients’ bills and check they are right. Very often they aren’t! The sorts of issues we notice are –incorrect VAT rates being applied, a client recently received nearly £7,000 for wrongly applied VAT. Another client was being charged twice for their gas supply and we got them a £20,000 rebate.”
If you’re not looking for these errors, which many companies aren’t, they go unnoticed. Power Direct find around 10 to 30% of the bills checked are wrong and that is only counting the times it is wrong in favour of the supplier