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Collective scheme seeking lowest energy prices launched in Cheshire

Cheshire West and Chester Council is backing a new initiative for residents and local businesses to join together to buy gas and electricity in a bid to save money.

The authority has joined forces with ten other councils across the UK to create a Collective Energy Scheme, where residents and businesses combine their purchasing power to bulk-buy energy as a group, enabling them to negotiate with providers for cheaper energy bills.

Known as collective switching, the scheme will make it easier for people to switch energy provider and participants can expect to see big savings of between £60 and £200 a year.

Executive Member for Prosperity, Councillor Herbert Manley, said: “As winter draws closer rising fuel bills and more and more people risking their health by living in cold, damp homes due to fuel poverty are major concerns of this authority.

“This scheme is set to be the biggest of its kind in the UK – with 11 councils involved in the project its means over 1.5 million households will be eligible to join the scheme and start saving money on their energy bills by combining their purchasing power.

“The more people that sign up, the bigger the potential savings so I would encourage all west Cheshire residents, regardless of the size of your property, to sign up today and help secure lower monthly bills.”

The scheme is opening to everyone in the area including local businesses regardless of the size of property.

The collective switching scheme will work by means of a reverse auction where energy suppliers will be invited to bid the lowest price to supply energy to all those signed up for the scheme.

This was posted in Bdaily's Members' News section by Simon Malia .