Over 10,000 people have now registered to a new city council scheme to save residents money on their energy bills.

Peterborough City Council has led on the Ready to switch? scheme, which includes 11 other local authorities from across the UK.

In the last week alone over 5,000 new registrations have been recorded and people are being reminded it's still not too late to sign up. All you need to register is details of your current energy usage, tariff and suppliers.

To register people need to visit www.readytoswitch.co.uk and follow the instructions to sign up. The deadline for online registration is midnight on today, Monday 17th December 2012.

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The Ready to switch? scheme which uses the combined buying power of communities to negotiate cheaper prices with energy companies.

Households switch energy provider as a group at the same time - and everyone saves on their own bill. The more households that sign up the bigger the bulk savings – but on average we expect residents will save between £60 and £200 a year.

Once registration has closed an auction will be held with energy providers (18 December) to find out which one will bid the best price to supply energy to all those households that have registered.

Offers will then be sent out to tell those registered exactly how much you could save and you decide whether to make the final switch. Emails and letters will be sent out from 24 December and you’ll have until 14 January 2013 to make up your mind. There is no obligation to switch when residents receive their offer.

(CD)