Collective switching sees 60,000 consumers change suppliers in 10 days

A collective switching scheme has seen 60,000 consumers change their energy supplier in ten days, according to MoneySavingExpert.com.

The consumer website, which ran the collective switching scheme, claims that members of its Cheap Energy Club have saved over £10 million.

Members were offered a 12 month fixed deal for £950, which undercut the next cheapest deal on the open market for £970 a year.

The website will also give £30 cashback to dual fuel consumers who changed supplier from the revenue it generated from switching the energy customers.

The switching scheme that was launched last month, had initially sought 1.2 million consumers change their energy supplier but the website said the switching numbers were still “bigger than any prior challenge”.

Energy minister Ed Davey backed the collective switching scheme and called it “fantastic news”. “It just goes to show the power of clubbing together to demand a better price from suppliers,” he said.

MoneySavingExpert.com creator and founder Martin Lewis added, “Collective switching is a good concept, but if it doesn’t deliver the best deal for people then it will never be mainstream.

“We waited nearly two years before we launched a collective switch as previously it looked unlikely that we could persuade providers to launch a tariff that undercut everything else out there.

“Yet now this is proof of concept – the collective switch has been hugely successful with an eightfold increase in the number of people switching compared to normal.

“We will aim to try and deliver it again in future.”