Householders once again have the chance to sign up for a Peterborough City Council scheme that could save them money on their gas and electricity bills.

Ready to Switch is a collective switching initiative run in partnership with 12 other English councils. The scheme uses the combined buying power of residents to negotiate cheaper prices directly with energy companies.

So far, Ready to Switch has seen thousands of households across the UK switch their supplier saving them hundreds of pounds.

Householders now have a further opportunity to register for free and with no obligation to accept their personal offer. All people need is their latest energy bill, contact details and information on how much energy they use.

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Residents have until 15 October 2013 to register for the scheme which is open to all domestic customers.

Following the registration period an auction is held with energy providers to find out which one will bid the best price to supply energy to all the households that have signed up. Previous winners include British Gas and Scottish Power, producing yearly average savings of up to £126 per household.

Once the auction has taken place, residents are sent a personal offer based on their submitted energy usage. It is then up to householders if they accept or not – there's no obligation.

Councillor Nigel North, Cabinet Member for Environment Capital and Neighbourhoods at Peterborough City Council, said: "Rather than switching provider and reducing your energy bill as an individual, people can register to switch and save as a big group at the same time.

"From previous rounds we have seen that those that tend to make the biggest savings are households that rarely or have never switched. In the last round around two thirds of registered households stood to make a saving through Ready to Switch – and it only takes a few minutes to enter your details."

(CD/JP)