Collective switching is a new way for consumers to group together and lower energy bills. You could save between £60 and £200 per year on your gas and electricity bills by collectively switching energy providers.
There is no obligation to switch and individuals are able to choose whether or not they would like to switch energy supplier. Collective switching works because the more people that register for the scheme, the better the deal.
How does it work?
Once every few month’s energy suppliers will provide an offer to Ready to Switch. The energy supplier with the lowest tariff is then offered to registered individuals.
Any offer made by the energy companies as a result of the auction is binding for the supplier, regardless of how many participants actually take it up. The new tariff will be sent by email to those who registered to be part of the scheme.
How can I join collective switching?
You can register for free on the Ready to Switch website. Simply provide details of how much energy you use plus details of your tariff and current energy supplier. Your details are then automatically grouped together with others registered on the site.
Last updated: Wed 7th September, 2016 @ 13:34