Insider Exposes Unethical Practices: Energy Brokers Targeting Vulnerable Sectors
Jermaine Bennett, a former energy broker, has unveiled unsettling practices within the industry, shedding light on the exploitation of small organisations by some brokers. While Bennett takes pride in securing good deals for customers, he contends that unscrupulous brokers focus on vulnerable sectors, such as charities and churches, employing tactics that may compromise the interests of unsuspecting clients.
Targeting Small Originations for Maximum Gain
Bennett revealed that certain brokers strategically target specific sectors, exploiting the lack of experience in the energy sector among individuals within these organisations. Charities and churches, for instance, become prime targets due to the presence of individuals like bursars who may not possess extensive knowledge about energy contracts. In such cases, brokers allegedly impose maximum commissions on customers’ bills, taking advantage of their limited understanding.
Speaking on the matter, Bennett expressed concern about the systemic targeting of sectors with individuals who may be less informed about the intricacies of energy deals. This practice, he claims, enables unscrupulous brokers to maximize commissions while leaving customers unaware of potential alternatives or excessive charges.
Challenges and the Path Forward
The revelations by Jermaine Bennett underscore the challenges within the energy broker industry, particularly concerning the exploitation of vulnerable sectors. As the industry grapples with these allegations, it becomes imperative to scrutinise and strengthen regulatory controls to protect small organizations from potential exploitation.