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Miss Sold Energy Claim FAQs – Is Your Business Eligible To Claim Compensation – Call 01743 298980

Are You Eligible To Claim A Refund For Mis Sold Energy

Q: How do I know if my business is eligible to claim for mis-sold energy contracts?

A: To determine eligibility, consider the following criteria:

  • Electricity costs must represent 20% or more of Gross Value Added (GVA) over a reference period.
  • Your business operates in the manufacturing sector within the UK, as defined by a 4-digit NACE Code.
  • You pass a 20% electricity intensity test, demonstrating the direct impact of energy costs on your operational dynamics.
  • You possess a half-hourly meter for precise monitoring of energy consumption.

Q: What is GVA, and why is it important?

A: GVA stands for Gross Value Added, which reflects your business’s financial health and operational efficiency. It’s calculated as Earnings Before Taxes, Interest, Depreciation, and Amortization (EBITDA), excluding extraordinary items and all staff costs.

Q: How can I provide evidence of energy usage in manufacturing?

A: Evidence of the proportion of electricity used in manufacturing for at least three months establishes a direct link between your operations and energy consumption. Detailed energy usage records and bills from relevant periods are essential.

Q: Why is granular metering important for eligibility?

A: Possession of a half-hourly meter enables granular monitoring, providing precise insights into your energy consumption patterns. This data is crucial for assessing eligibility and understanding your energy usage.

Q: What financial data do I need to provide for eligibility?

A: You must provide financial data for the 12 months before the application. This ensures a holistic examination of your financial landscape and helps determine eligibility for compensation.

Q: How do I submit relevant billing periods for scrutiny?

A: Submit May and November bills from the relevant period. These billing details are critical for assessing eligibility and ensuring that no financial discrepancies escape notice during the claims process.