Collective switching ‘can make energy suppliers cut prices’

It is possible to make energy suppliers reduce their gas and electricity prices through collective switching. That’s the view of Councillor David Finch, Leader of Essex County Council, who told ELN how […]

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By Jacqueline Echevarria

It is possible to make energy suppliers reduce their gas and electricity prices through collective switching.

That’s the view of Councillor David Finch, Leader of Essex County Council, who told ELN how energy companies cut prices to help householders lower their bills.

Power suppliers bid to offer the lowest rate for energy contracts under the Essex Energy Switch campaign, which helped locals save around £1 million in the last year.

Mr Finch said: “The individual suppliers quite simply are in competition and when you see the size and the number of people that are applying it makes it cost-effective for them to look at their prices and say ‘Within Essex there’s a lot of people applying and therefore if I win a larger share of that market, I can reduce my prices’.

“Indeed the evidence is that all of the energy companies have actually reduced their prices for Essex residents.”