Switch and save energy scheme running again

Published Wednesday, 29 January 2020

RESIDENTS in Hinckley & Bosworth could get a better deal from their energy provider by taking part in the latest round of the Borough Council's energy switching scheme.

Residents can sign up for free, with no obligation, to tell the council they are interested in switching suppliers to save money. The deadline to register is 10 February 2020.

The next auction will be held in February 2020 when iChoosr will ask energy suppliers to bid for the collective business of everyone who signs up. The scheme brings together a number of people who want to switch providers into one ‘auction’.  To-date some 20,790 people took part in the last auction.

Energy providers then bid for their business by offering the best available prices. The more people who join the collective scheme, the better a deal everybody gets.

Residents who took part in the October 2019 auction saved an average of £293 (per year).

How does the scheme work?

Residents can sign up for free, with no obligation. Businesses currently on a domestic tariff are also eligible to sign up.

In February 2020, iChoosr will run an auction asking energy suppliers to bid for the collective business of everyone who signs up.

After the auction, iChoosr will contact everyone who has signed up with an offer of an energy tariff based on their usage. This will outline how much the resident will save by switching to the winning energy provider.

Residents then choose whether or not to sign up to the new supplier. There is no obligation to change and there are a few weeks to accept the offer. They will be then be contacted by the new supplier to arrange the switch.

Executive Lead for Housing and Community Safety Cllr Michael Mullaney at the Borough Council said “Through this scheme borough residents are given the opportunity to see if they can reduce their energy costs. ‘Switch and Save’ lets everyone join together all of their energy use and then to offer it up in an auction. Energy providers will then try to offer excellent contract prices in order to win all of the business on offer. There is no obligation to change but previously Borough residents have saved up to £293 per year by switching through this auction process.

Those interested in registering an interest can call 01455 255988.