Service Fees & Charges - How We Get Paid
Love Energy Savings receive a commission directly from the supplier when an energy contract procured via us goes live; it pays for our service, including comparison, switch management, customer service and account management. The commission earned by Love Energy Savings balances the cost to provide these services, in line with providing good customer outcomes and retaining our standing within the market in order to continue to provide customers with competitive deals for their business. By agreeing to use our service, you are agreeing for Love Energy Savings to receive commission for our service.
The commission is included within your unit cost of energy usage by way of a small uplift; therefore, the cost of Love Energy Savings’ service is included within the cost of the energy contract you agree with your chosen supplier. You are not required to make any direct payment to Love Energy Savings.
As an example, we may secure an electricity unit rate of 15.5 pence per KwH (kilowatt hour) to which we may apply an uplift of 0.7 pence, so the contracted price would be 16.2 pence per KwH. The calculation for our commission is therefore uplift multiplied by annual energy consumption and multiplied by the contract term. Whilst different for every contract, our commission is generally just a few percent of the cost of the total energy contract and typically under 1 pence of the unit rate.
Due to the way we are remunerated we only offer business energy prices from the suppliers who are live on our panel. Because our commissions are based on future usage they are forecast amounts. If you would like to find out the commission we expect to receive from your contract please email [email protected].
Some suppliers may make additional payments to us, e.g. a nominal payment per meter sold successfully to that supplier; however, these payments do not impact the impartiality of the comparison service provided.