Why UK Businesses Need a Regulated Energy Market

Thousands of domestic energy customers have recently secured refunds and compensation after an Ofgem compliance review revealed widespread overcharging. This investigation underscores the importance of strong regulatory oversight, but what about businesses?

Victoria Myers, Director and Senior Partner at Energy Solicitors is calling for the same level of scrutiny and protection for UK businesses, who remain vulnerable to mis-sold or overpriced energy contracts in an unregulated market.

What Ofgem Found

Ofgem’s review uncovered that ten energy suppliers overcharged more than 34,000 domestic customers by £7 million, breaching the energy price cap due to failures in applying it correctly.

Charlotte Friel, Ofgem’s Director of Retail Pricing and Systems, explained:

“The price cap is set for domestic energy consumers so customers don't pay a higher amount for their energy than they should.”

She added: “This outcome serves as a reminder to all energy suppliers that they must implement the price cap properly and do their due diligence.”

The Problem for Businesses

While domestic customers benefit from regulatory safeguards, UK businesses operate in an unregulated energy market. This lack of oversight creates opportunities for unethical energy brokers to mislead companies with inflated prices and hidden commissions buried in contracts.

Victoria Myers warns:

“The unregulated business energy market has enabled rogue brokers to take advantage of thousands of companies across the UK. Holding these brokers accountable for their unfair and unethical practices should be a priority. Energy Solicitors’ team of litigation experts are here to fight for businesses and help them reclaim money that’s rightfully theirs.”

Why Regulation Matters

With energy costs continuing to impact profitability, businesses need transparency and fairness. A regulated market would:

• Prevent hidden commissions in energy contracts.
• Ensure accurate pricing and compliance.
• Protect businesses from mis-selling and unethical practices.

Ready to challenge an unfair energy contract? Our litigation experts specialise in recovering losses from mis-sold energy deals.

Contact us today to start reclaiming what’s rightfully yours.