How to be Broker Savvy

Signing an LOA

A Letter of Authority is a document signed by a business, which gives a brokerage the authority to perform certain administrative tasks on your behalf. The only tasks they should have authority to undertake are-

• Data collection about your site/s and meter/s.
• Find a better deal for your energy rates.
• Liaise with suppliers to make billing queries.
• Make arrangements for you to renew or switch energy contracts.
• Terminate your existing contract.

It is important to note that a broker should never have the authority to sign a contract on your behalf. Never sign a LOA that gives your broker the authority to terminate a contract and sign a new contract.

This way, you can relinquish the burden of contract negotiations, without losing full control and final say over your next energy contract...read more