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Households urged to join energy co-operative for cheaper gas and electric

PUBLISHED: 10:32 03 September 2014 | UPDATED: 10:32 03 September 2014

Households in London's East End are being invited to sign up for this year's energy industry's tariff auctions for cheaper gas and electric bills.

The opportunity opened this week to join Tower Hamlets Council’s Community Power scheme with its collective buying ability to ensure suppliers give best rates to those who are signed up.

It can save families an average £150 on annual energy costs.

“The energy saving scheme is a way to help make every penny count,” a Town Hall spokesman said. “Our staff can give independent advice about the best energy option available to families.”

Registering is free and those joining or those who have signed up in the past are entered into a free prize draw for an iPad Mini. The competition closes on October 14.

Energy companies compete to give best prices in the annual auction based on market forces in the supply industry. The company with the most cost-effective tariff provides a free estimate of comparative energy prices when the auction closes.

Householders can register online for Community Power or call freephone 0800-508 8364, with no obligation to switch supplier.

The Tower Hamlets scheme is part of the Big London Energy Switch campaign for collective buying for households across London.

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