What Retrospective Billing Can Do For Your Business
Did you know?
You can make use of the ‘Statute of Limitations’, which legally allows you to recover any supplier over-charges and incorrect payments dating back up to a maximum of 6 years. This is done through a retrospective energy audit, and conducting due diligence on all costs, suppliers, and service providers allows your business to have full control of your energy bills.
What is a retrospective energy audit?
A retrospective energy audit is an energy review that recreates the supply chain going back six years maximum, identifying opportunities for credits and refunds. This can be done on backdated and present supplier invoices and for the ongoing optimisation of costs.
How does it work?
Open Energy Market (OEM) will audit your costs for electricity, gas, and water accounts. The audit will specifically exclude all contract renewal negotiations but will cover all other areas relevant to the overall delivered cost to each site. OEM will provide recommendations in writing detailing the refunds and savings available. Refunds will be negotiated directly with your suppliers by OEM. The savings, with your agreement, will be implemented by OEM on your behalf. The review itself can spot spikes, trends, and anomalies within the last 6 years.
What will you need?
- A Letter of Authority (LOA).
- A list of all suppliers and meter numbers covering the last six years.
- A list of sites to be reviewed with full address (including any closed or amalgamated sites in the 6-year window).
- A copy of all bills – Customer can normally provide a copy bill file or provide access to their supplier portals.
- A copy of any supply contracts (current and previous).
- Details of any existing, outstanding claims or disputes with suppliers.
- OEM's Terms of Business/Contract.
What’s in it for you?
- Performing due diligence on your energy bills will allow your organisation complete control over any costs that might be owed to you.
- There is no financial risk since the fees are paid on a contingency basis, no win, no fee.
- Minimal business resource required.
- Cash flow.
We pride ourselves on delivering results with outstanding customer service. If you haven’t had experts audit your utility invoices, you could be missing out on thousands of pounds.
For further information or any assistance with retrospective billing, contact us on email@example.com.