Service Fees & Charges - How We Get Paid
LOVE is compensated in a simple way by suppliers. We get paid for introducing our customers to their services, as explained below. We receive our commission directly from the supplier. You, as the customer, will never be asked to pay us directly.
The commission we receive pays for our service, including securing competitive tariffs, price comparison, sales support, switch management, processing, customer service and digital account management via your Hub. The commission earned by LOVE balances the cost to provide these services.
By agreeing to use our service, you are agreeing for LOVE to receive commission from suppliers for our service as follows.
Business Energy
- Our commission is included within your unit cost for your energy usage by way of a small uplift (i.e. within the cost of the business energy contract you agree with your chosen supplier).
- This uplift is determined by LOVE, but differs across contracts based upon the supplier and usage.
- Because our commissions are based on estimated future usage, they are forecast amounts.
- As an example…
- We may secure an electricity standing charge of 60 pence per day and a unit rate of 30 pence per KwH (kilowatt hour) from a supplier for a fixed contract period of 2 years, to which we apply an uplift of 1 pence per KwH to the unit rate presented.
- Therefore, the contracted unit rate would be 31 pence per KwH.
- The calculation for our commission is therefore our uplift (1 pence) multiplied by your total energy consumption in KwH (25,000 as an example), over the fixed contract term (2 years).
- 1 pence uplift x 25,000 KwH annual consumption x 2 year contract term = £500 estimated commission
- For this example, our estimated commission is around 3% of the total estimated amount payable under the supply contract.
- The payment terms and period over which the commission is actually paid varies by supplier therefore these commissions may also be subject to amendments over time by suppliers.
For some suppliers who install new meters, they may choose instead to pay a fixed commission per contract.
If you would like to find out the commission we expect to receive from your contract, please email howwegetpaid@loveenergysavings.com.
Some suppliers may make additional discretionary marketing and other volume-based payments to us for growth over a given period, however, these payments do not impact the impartiality of the comparison service provided.
Business Water
- Our commission is included within the cost of your water retail service fee by way of a small uplift applied over the life of the contract. The water wholesale rate is set by your water wholesaler and is not impacted by who you choose as a water retailer.
- This uplift is determined by LOVE and it can differ across contracts.
- As an example…
- We may secure a water retail service fee of £122 per year from a water retailer for a fixed contract period of 3 years, to which we apply an uplift of £30 per contract year to the water retail service fee presented. Therefore, the contracted water retail service fee would be £152 per year.
- The calculation for our commission is therefore our uplift (£30 per annum) multiplied by the fixed contract term (3 years), which means a total commission of £90.
- The payment terms and period over which the commission is actually paid varies by water retailers therefore these commissions may also be subject to amendments over time by water retailers.
If you would like to find out the remuneration we expect to receive from your contract, please email howwegetpaid@loveenergysavings.com.
Business Telecoms/Connectivity
- Our commission is paid per telecoms/connectivity contract, and the amount payable varies dependant on the package taken. Unlike business water and business energy, the cost of our commission is not included within the price you pay for your package. Our commission represents a set percentage of the cost of the package and is paid solely by the provider.
- This commission available is set by the provider and can differ depending on the package taken.
The payment terms and period over which the commission is actually paid varies by provider. Therefore these commissions may also be subject to amendments over time by providers.
If you would like to find out the remuneration we expect to receive from your contract, please email howwegetpaid@loveenergysavings.com.
Domestic Energy and Telecoms
Our partner assists customers in comparing and securing new contracts for domestic energy and telecoms. In exchange for us introducing customers to the partner, Love Energy Savings receive a percentage of the commission they earn on those contracts. For further information on how they are paid, please see their website for details.
If you would like to find out the remuneration we expect to receive from your contract, please email howwegetpaid@loveenergysavings.com.
Merchant Services
LOVE introduce customers to our dedicated merchant services partner, and, in exchange, we receive a percentage of the commission which our partners earns on those contracts. For further information on how they are paid, please see their website for details.
If you would like to find out the remuneration we expect to receive from your contract, please email howwegetpaid@loveenergysavings.com.