Utilitywise

Anth9ftm said:
Course they’ll be gloating. As are the rest. GAS, NGP, green energy advice beureau, utility alliance they’ll all be rubbing their hands.



Basic wages for decent energy consultants and closers is easily around £50-£70k now.

Add on top of that commission and your not far off easily £130-£150k a year.
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The sensible side of capitalism right there.

f***ing hell 70k a year to sell gas and electricity. In fact not sell it. But 70k a year for someone else to pay someone else for gas and electricity.
 
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Cookie said:
Well it depends on the department but the ones I was aware of were in Marketing and Product functions.

There was people who’d be in £30-40k jobs anywhere else in the North East being offered £60k and people who’d be in £60-70k jobs anywhere else in the North East taking home six figures. Never sustainable.
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Pipeline was the key to making commission at utilitywise, building up a portfolio of customers to a point where you could make fantastic money living off their contract renewals and additional sites. The salary was chicken feed to some. I think the reason why many of the big hitters left utilitywise was because the company took their renewals off them and put them in the hands of a dedicated team. Without knowing the economics surrounding it, that was an outrageous decision by the company. Cut their own balls off.

Sounds like they tried to buy them back?

So sorry for the people losing their jobs, I understand they've been told they aren't getting paid this month either. It seems unfathomable that they've fallen that far.
 
TexasMackem said:
Pipeline was the key to making commission at utilitywise, building up a portfolio of customers to a point where you could make fantastic money living off their contract renewals and additional sites. The salary was chicken feed to some. I think the reason why many of the big hitters left utilitywise was because the company took their renewals off them and put them in the hands of a dedicated team. Without knowing the economics surrounding it, that was an outrageous decision by the company. Cut their own balls off.

Sounds like they tried to buy them back?

So sorry for the people losing their jobs, I understand they've been told they aren't getting paid this month either. It seems unfathomable that they've fallen that far.
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Is it just greed on the part of the management to get to that point?
 
Anth9ftm said:
Course they’ll be gloating. As are the rest. GAS, NGP, green energy advice beureau, utility alliance they’ll all be rubbing their hands.



Basic wages for decent energy consultants and closers is easily around £50-£70k now.

Add on top of that commission and your not far off easily £130-£150k a year.
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Oh wow. That's mad.
 
A lot of them will go pop. As others have said most of them sprung from disgruntled Utilitywise employees. MD of NGP worked there and at least one other broker that I know of before setting up. They grow too big too quick then the legacy payments cant cover costs.

A lot of the contracts are 80% on signature or go live, so front end loaded.
 
Sandboy said:
So what did they do ? Broker utility deals for big companies and charge a fat fee ?
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Nah most energy brokers use a thing called QA in contracts. Basically its the usage of gas or electric, they will then add an uplift to the price, so

QA x uplift = commission to broker

They were basically using massively overstated QAs this in turn would give the broker massive commission. Then when the contract comes to an end a reconciliation would be done using actual readings. The inflated QAs lead to one supplier having to be repaid £7.6 million in over stated commissions.
 
We've a great company and opportunities available now, if anybody is out of work and has a bit of drive about them, PM me on their behalf / yourself.

Newcastle city centre.
 
Sidewinder2 said:
Nah most energy brokers use a thing called QA in contracts. Basically its the usage of gas or electric, they will then add an uplift to the price, so

QA x uplift = commission to broker

They were basically using massively overstated QAs this in turn would give the broker massive commission. Then when the contract comes to an end a reconciliation would be done using actual readings. The inflated QAs lead to one supplier having to be repaid £7.6 million in over stated commissions.
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So when the lad earlier said people were earning a 150k it was all a fiddle?
 
Pop said:
So when the lad earlier said people were earning a 150k it was all a fiddle?
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In the early.days it was perfectly plausible for unscrupulous agents to use higher QAs to inflate the broker and their commissions.

Think its more strictly regulated now. Personally its a dying industry, only so many people you can contact and contracts are usually 3 years.
 
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Pop said:
So when the lad earlier said people were earning a 150k it was all a fiddle?
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Nah not at all, if you have a usage of 150,000 and you have proof then all’s well. If the customers usage is 150,000 but you tell the supplier it’s 800,000 then there’s a problem. But that’s what we were doing at utilitywise.

JW1973 said:
Hows NGP for you?
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Love it mate. Management make you work hard but I need that. When utilitywise was at shields it was the best place I’ve ever worked, started the downward spiral when it went to NT2
 
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Energy supply should not be on the free market. f***ing ridiculous that someone next door to you pays more/less for their energy.

Who pays for these super duper wages?

Nee offence to any energy brokers like
 
HABA87 said:
It all sounds a bit crazy some of the figures on here. I've just done mine online through USwitch with some cashback too after comparing deals all over the shop. Surely an energy consultant would just do similar?
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I'm genuinely shocked to hear that there are such big commissions selling something that anyone can easily switch themselves. It tells me the industry must be marking up a ridiculous amount from their wholesale purchases to start with. But even with that this must be pretty reckless. Surely it'll still take them a few years to get the commission back on that sale - providing that customer doesn't switch again after a year or two. If that was utilitywise practice then no wonder they've gone bust and while it's sad for the staff - good riddance.

To think this was once a nationalised industry. "Good for consumers" they said. "Creates competion in pricing" they said. "Services will improve under private ownership" they said. All bollocks. I worked in the industry 20 odd years ago after privatisation and you could see the way it was going with cutting down on the customer service. But this has really surprised me.
 

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