December 6 2013 Latest news:
Kay Atwal, Chief Reporter
Friday, September 27, 2013
Residents could see their gas and electricity bills fall by taking part in a London-wide energy auction.
The Big London Energy Switch is a collective energy switching scheme in which Newham Council, along with 23 other London boroughs, is taking part. It makes it easier to switch energy providers and get a better deal on utility bills.
Taking part is free and there is no obligation to switch. At a previous auction in April, 71 per cent of Londoners who registered found they were able to save money on their energy bills, with the average household saving £122 per year.
There is no guarantee taking part in the auction will save you money. Customers who have recently switched energy providers may be on the best value tariff already.
Residents interested in taking part should register for the scheme by October 15.
Once registration closes, energy suppliers will submit offers through an auction process. The company offering the cheapest deal on the day will be able to offer participants a new contract. A personal offer will then be sent to every person who took part showing if they will save money. Participants will have until November 25 to confirm if they want to accept the offer.
The switch should be completed by the winning energy supplier by the end of December 2013.
Councillor Ian Corbett, executive member for environment, said: “With energy bills rising, we want to help people keep costs down with their electricity and heating bills particularly as winter starts to draw in. The more people that sign up, the better deal we are likely to get for Newham residents so it’s in everyone’s interests to take part.”
To register, visit www.biglondonenergyswitch.org.uk. If you don’t have internet access, call Newham Council’s switching enquiry line on 020 3373 4892.
To find out more visit www.newham.gov.uk/thinkingaboutswitching