ED Magedson – Founder
Energy Network845 Third Avenue 6th Floor New York, New York USA
Energy Network, Energy Network Solutions, LLC Fraud, deception and wrongful business practices New York New York
This company, led by Kori Koepke, is involved in wrongful business practices, starting from the very beginning of their efforts to recruit Independent Contractors ("IC'), telling them the great opportunity to make 6 and 7 figure incomes. They charge ICs $165/month for a web office, that is still under development (has been for nearly two years) and leads that have not been qualified or are of any value. Salespeople can access better leads through no-cost sources.
The turnover in this company is HUGE, as new ICs quickly learn what their $165 provides and that the likelihood of closing any order is very remote. If an IC does close an order, they get the smallest piece of the commission pie, as before they see any money, Energy Network gets their cut of each order, in addition to the cut taken by Unified Energy (which is part of Tullett Prebon). Even beyond Energy Network and Unified Energy getting the lions' share of all commissions, overrides are also paid out, leaving the IC----who closed the deal---with the smallest piece of the pie.
Again, in the case where an IC does close an order, it is very likely that it would be at least 6 months before they see their commission and most likely much longer. Generally, you are pursuing energy contracts that start on a future date, and then after that contract starts it takes 120-180 days later before you see your first small commission.
And when you do get paid, you do not receive any supporting detail, telling you which month of the contract payment is for and what the payment is calculated on. And again, you gets what's left after eveybody else takes their portions.....you get the smallest piece, even though you are the person who did the work and closed the deal.
The company has the same number of ICs it has had for the last several years, because they leave as fast as new ones come on board. There are good reasons for this, and nothing has changed.
If you are considering coming on board, you must understand that the likelihood of closing an order is very remote (there is a ton of competition and clients will routinely hang up on you since they hear the same pitch almost daily) AND that it is very likely you will not see any commission money for at least 6-8 months and more likely MUCH longer.
It is also likely Energy Network will raise their monthy fee sometime in the near future, and there is nothing ICs can do about it. If by chance (& luck) you are receiving a commission, you must continue to pay their monthy fee, no matter how high it is, or you will cease getting commissions. You are at their mercy.
FYI-the fee was $100 till the middle of last year, so it has already increased by 65%, and again, will likely be increased again in the near future.
In addition to selling energy, a year ago they were trying to sell (under the name "Arivus") Dragonfly Solutions (a solution that did not even exist, which ICs working the campaign found out over a year later), currency trading and cell phones.
I strongly suggest you do your own due dilligence and research on "Energy Network," "Arivus," "Dragonfly Solutions," "IPower6," as well as Kori Koepke, and see what others have said so that you do not suffer the same consequences.
Also, if you talk to Energy Network recruiters, ask them how many ICs there currently are, and how many they had in 2012 & 2013. Then ask them how many of the current ICs are making 6 figures and how many are making 7 figures. Then ask them how many ICs, who have been with the company for a year or less, are making 5, 6 & 7 figures. Also ask them about Dragonfly Solutions, currency trading and cell phone selling.
This is NOT a good company to join unless you want the high risk of losing money, not making any money, getting extremely frustrated and quitting within 3 months after joining---which is extremely likely.
This report was posted on Ripoff Report on 03/10/2014 10:39 AM and is a permanent record located here: http://www.ripoffreport.com/r/Energy-Network/New-York-New-York-10022/Energy-Network-Energy-Network-Solutions-LLC-Fraud-deception-and-wrongful-business-prac-1129573. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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