This weekend is the last chance for residents in East London to save £100 on their energy bills.
The Big London Energy Switch, a scheme that enables bill payers to switch gas and electricity providers in order to get better deals, will close on Monday November 18.
iChoosr, the provider organising the switch, will hold an auction day where the cheapest supplier wins the right to offer a contract to the participants in the scheme.
The company’s goal is to allow households to pay the cheapest possible amount for their energy bill. The first London auction was held in April and resulted in an average annual saving of £125 by Londoners who registered with the scheme.
Filip Vissers, the UK Project Manager for iChoosr said the online registration is “quick and easy,” and said that “collective buying power” was key to reducing energy bills.
Local councils, who recognise energy price hikes and fuel poverty as a widespread problem across the capital, support the switch.
All the EastLondonLines boroughs took part in the first Big London Energy Switch in April.
Mayor of Tower Hamlets, Lutfur Rahman, said: “The upcoming auction is another chance for residents to take part in this fantastic scheme which could make a huge difference to their household energy bills. The more households that sign up, the cheaper the rates for everyone.”
Councillor Sophie Linden, Deputy Mayor of Hackney, said: “The Big London Energy Switch is a simple idea that could mean real savings for local people. With thousands of people in Hackney in fuel poverty, every penny saved would make a real difference to the lives of local people and their families.”
Jason Perry, the cabinet member for planning, transport and sustainability for Croydon said the scheme could be a real difference maker for family’s the borough, providing enough residents sign up for it.
iChoosr successfully began delivering collective switching schemes in Holland and Belgium in 2008.
The scheme opened almost a year ago in the UK and there are 40,000 people taking part in the scheme across London.