Our Fees
Despite an increase in regulation of the energy broker market including improved transparency of fees, many customers are still unaware of how their broker earns a fee, how much it is, and whether it is value for money.
As an ethical energy brokerage, we set out on this page exactly how we are paid, and we confirm it in writing before you commit to anything. Below are some examples of what this might look like.
How do we get paid?
There are two primary methods of receiving fees.
- Supplier Paid Fees: The agreed fees are included in the energy supply contract unit rates or standing charges and paid to us by the energy supplier, or
- Customer Paid Fees: The agreed fees are paid to us directly by you, with no fees included in the supply contract.
These two methods are explained in more detail below.
1. Supplier Paid Fees
The most common payment method is for Mindful Energy to receive an agreed commission from your energy supplier. In this scenario, our fee is built into your supply contract rates and paid to us directly by your chosen supplier.
For example:
- Customer A agrees to utilise Mindful Energy to source their energy supply contract renewal. The services and a fee of 0.25p per kWh are agreed and itemised on an agreement between Customer A and Mindful Energy.
- Mindful Energy sources a competitive supply contract for the customer using our reverse auction processes, and Customer A signs an electricity contract at a unit rate of 20p / kWh. Mindful Energy's fee of 0.25p per kWh is included in the 20p /kWh unit rate, and the supplier must show this fee in the principal terms of your contract.
- Customer A uses 100,000kWh of energy each year. So the estimated annual fee is £250 (100,000 x 0.25/100) and is paid to Mindful Energy by the supplier. The actual fee paid by the supplier may vary slightly, subject to the actual energy consumption of the customer.
2. Customer Paid Fees
Some customers prefer not to include fees in their energy supplier contract and would rather receive an invoice directly.
For example:
- Customer A agrees to utilise Mindful Energy to source their energy supply contract renewal. The services are agreed for a fee of £250 per annum, and itemised on an agreement between Customer A and Mindful Energy.
- Mindful Energy sources a competitive supply contract for the customer using our reverse auction processes, and Customer A signs an electricity contract at a unit rate of 19.75p / kWh. There is no commission included in this rate for Mindful Energy, with most suppliers itemising on the supply contract that zero commission is included.
- £250 per annum is invoiced by and paid to Mindful Energy by the customer, regardless of how much energy the customer consumes.
The chosen payment methodology, whether supplier paid or customer paid, is totally up to the preferences of our customers. Whichever route is chosen, we ensure the fees are transparent and consistent with what has been agreed. Our fee is also declared up front in our Letter of Authority or Service Level Agreement.
What are Mindful Energy's Fees?
Our fees vary depending on the services required. The following summary table aims to give you a steer on our costs. However, we appreciate customers have specific needs so please do get in touch for a tailored cost / benefit proposal.
| Service | Under 0.25 GWh a year | 0.25 to 2.0 GWh a year | Over 2.0 GWh a year |
|---|---|---|---|
| Supply contract procurement: fixed price | Maximum 0.75p/kWh uplift, with a minimum fee of £250 a year | Maximum 0.6p/kWh uplift | Maximum 0.4p/kWh uplift |
| Supply contract procurement: flexible | Not applicable | Not applicable | Case by case |
| Risk management and hedging | Not applicable | Not applicable | Case by case |
| Bill validation | £3 per bill | £3 per bill | £3 per bill |
| Carbon and consumption reduction services | Case by case | ||
| Onsite energy audits | £350 to £750 a day, depending on the type of site | ||
To find out more about our services, please choose one of the options below.
Procure
Source the lowest cost gas & electricity supply contracts for your business.
Reduce
Identify opportunities to reduce energy consumption and lower your costs.