In the lead up to next month’s election, energy has become a hot topic, with both Labour and the Conservative party offering to cap bills to win votes.
But you don’t need to leave your bills in the hands of politicians. Sign up to This is Money’s energy switch and you can use collective bargaining power to demand a cheaper deal from the suppliers directly.
Our Winter Collective saved the average switcher £254 and we aim to save those signing up to our new Summer Collective hopefully even more on their annual energy bill.
The power’s in your hands: Sign up to our Summer collective to demand a cheaper deal
Collective switching uses customers’ combined bargaining power to squeeze a better offer from the energy suppliers – usually by enough to beat rising tariff hikes.
Providers are forced to compete for everyone’s business, which pushes the price down for individuals and saves customers from the legwork of shopping around for the cheapest deal.
During our last collective switch, This is Money’s carefully chosen partner service, Energy Helpline, went straight to the energy suppliers to ask them to bid for the collective business of the potential customers who had signed up by offering a cheaper energy tariff, shaving hundreds of pounds of their bills.
Use people power to secure a cheaper deal
Five of the Big Six suppliers and smaller providers First Utility and Co-operative Energy have announced increases so far this year piling on the pain to already cash-strapped households.
This means it is now more important than ever to make sure you are not on a rip-off energy tariff.
Registrations for the Summer Collective, powered by our carefully chosen partner service Energy Helpline, are now open.
You can sign up with just a few details and your email address until midnight on 19 June.
The more people who register their interest, the more bargaining power there is to squeeze a cheaper deal out of the energy providers, so get your friends and family involved too. There is no obligation to switch if you do choose to sign up.
On 20 June you will receive an email with details of the winning tariff and how it compares to any other best-buy deals.
You can then decide whether you want to move or not and Energy Helpline will handle the switch for you.
While it is This is Money’s mission to encourage households to review their bills regularly and switch to the cheapest deals available, the perceived hassle can put a lot of people off.
A collective switch however is a great way to ensure you are not over paying for your energy without having to shop around and compare prices yourself.
Once the winning deal has been chosen you will have a month to make your decision, and you don’t have to switch if you don’t want to.
How much could you save?
The Summer Collective aims to secure a deal saving typical customers around £300-a-year.
The last deal we secured switchers, cost £938.
The average customer with a tariff from one of the six largest energy suppliers will pay an average £1,138.
Those who switched to the winning deal from EDF which is fixed for a year are therefore currently £200 better off than those on a Big Six tariff, which is the majority of households.
The sign-up stage is open until 19 June so no winning tariff has yet been chosen. But, the more people who register the cheaper the deal the collective can secure.
Check out how many others have signed up here.
Find out more
Alternatively, you can instantly register via This is Money’s sign-up page.
If you do switch supplier through The Energy Switch, This is Money will receive a commission payment.
This will be paid by the energy provider not by the customer and goes towards keeping This is Money free to use and paying for our award-winning journalism and tools.