New money saving scheme launches to reduce energy bills for Swindon residents
Swindon Borough Council has launched its first ever Collective Switching Scheme in a bid to help households save money on their energy bills.
The scheme works by using the combined buying power of residents from across the Borough to negotiate cheaper prices with energy companies. Rather than switching provider as an individual, residents register to switch and save as a large group all at the same time to achieve economies of scale.
People can now register their interest online with the scheme, run in partnership with ichoosr. It’s quick, easy and, most importantly, there is no obligation to accept the offer.
Registration closes on Monday 3 June when energy suppliers will be asked by ichoosr to compete to make the best offer in a ‘reverse auction’, which means the lowest price wins.
It is hoped at least 500 people will sign up during the registration period. The more people who express an interest, the more likely better tariffs will be achieved. Although the level of savings cannot be guaranteed, people in other areas where similar projects have started have seen their bills drop by between £60 and £300.
Cllr Dale Heenan, Cabinet Member for Strategic Planning and Sustainability, said: “The cost of living is one of the big issues of the day. Swindon Borough Council has frozen Council Tax for the last three years to help local residents, but food, fuel and energy bills all continually increase every year.
“This scheme is an excellent opportunity for residents to work with the council to save money on their gas and electricity bills. These savings can really happen and we have set a target of 500 households saving £150 each by the end of June.
“It is free, and there is no obligation so nothing to lose by joining in. I hope lots of residents sign up – I certainly will be.”
For more information see www.swindon.gov.uk/energyswitch