More than 1,900 people have signed up to a new scheme being spearheaded by Peterborough City Council which could save them money on their energy bills.

Today marks two weeks since the launch of the Peterborough Energy Scheme which will allow residents to combine their purchasing power and to bulk buy their energy as a group, enabling those registered to switch to cheaper energy bills. It’s expected that savings will be between £60 and £200 a year.

Residents who have not yet signed up have until Monday 17 December 2012 to do so.

Councillor Nigel North, Cabinet Advisor to the Leader of Peterborough City Council on Environment Capital, said: "It is fantastic that in total almost 2,000 people have signed up to the energy scheme in just two weeks. That figure is going up by the hour which is great as the more people that sign up, the bigger the potential savings.

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"There are more than 10,000 households in Peterborough classed as being in fuel poverty and we hope this scheme is a way we can help those families to make savings on their energy bills. Whether you live on your own, or are part of a large family, you could make savings on your energy bills if you sign up."

The collective switching scheme will work by means of a reverse auction where energy suppliers will be invited to bid the lowest price to supply energy to all those signed up. The auction will take place on 18 December and the results will be announced before Christmas.

Offers will then be sent out to residents either as an email or a letter from Christmas Eve and residents will have until 14 January 2013 to decide whether they want to switch to the new deal. There is absolutely no obligation to accept the offer once you receive it.

The city council will work with a specialist company called iChoosr who will negotiate with the energy companies on behalf of everyone signed up to the scheme to get the best tariff possible.

(CD/GK)