Imagine you ran a shop selling cakes at £10 each. You might sell ten in a day making £100.
But what if someone came in offering to buy the whole shop in one go? You would be thrilled.
If they said they would only do if you gave them a discount on each cake, you would rush to comply. Say it cost you £5 to make each cake, it would be worth your while selling them at £6 each because you would make a profit in one go. You could shut the shop up for the day and go and have fun!
That’s the principle of ‘Collective Switching’ – it’s the power of bulk-buying to get cheaper fuel for thousands of people.
And you could be one of them if you join the crowds who are getting in on the act. Read on to find out how.
Collective switching begins with a group of people coming together, usually through a third party (such as iChoosr), to use their collective power to negotiate themselves a better deal from energy suppliers.
Quite simply, the more people who register, the more interested the suppliers are in winning them as customers and so the better the deal they offer.
Once iChoosr gets thousands of people to join there is an auction where energy suppliers give their best offers in an attempt to win the big wad of customers.
The winning bid is sent to the you the consumer and you’re then free to choose to accept or reject the offer.
If you accept accept the offer then the third party will usually sort out the switch for you – there’s no hassle.
- Great savings. Collective switching entices great offers from the energy suppliers. For example, in the iChoosr June scheme the average household saving was £234 per household. With that you could buy 477 pints of milk or 182 litres of petrol! In total, 40,000 people have switched with iChoosr and saved over £6.5 million.
- Save time. It takes about five minutes to register for free. No more trawling through countless comparison sites. Once the auction is over the offer will be sent directly to you and all you have to do is make a yes or no decision. The third party will make the switch for you if you decide to go with the offer. Easy!
- No obligation. By signing up to a collective switching scheme you really have nothing to lose. You will know all the details of the offer before you have to decide whether you switch your supplier. You are under no obligation at all to accept the new offer.
We at MoneyMagpie think that collective switching is such a good idea that we’ve teamed up with with the UK’s leading collective switching expert, iChoosr, and launched our very own group buying scheme.
This means that our readers can save money by coming together and using their combined power to get a better deal from the energy suppliers.
All you have to do is register for free here. We will then hold an auction among the suppliers and you’ll get sent a personalised offer which you are free to accept or reject.
If you accept the offer, we will take care of the switch for you.
As you now know, the more people who join the scheme, the better the offer will be from the energy supplier.
That’s why if you get five or more people to register, you will be entered in a draw to win one year’s free electricity and gas up to the value of £1,200.
Don’t worry if you know someone who wants to join but doesn’t have internet access, you can sign them up on their behalf.
So let’s come together and get the best deal possible from the energy suppliers.