Residents save an average £130 off their energy bills with the borough’s energy co-op

Tower Hamlets residents who have signed up to the borough’s energy co-operative could save an average of £130 on their annual energy bills, after registering for an energy switching auction with some of the UK’s biggest energy companies.
With rising energy prices, Tower Hamlets Council has been helping its residents get the best deals possible through its innovative scheme, T.H.E. Community Power. Launched in 2012, the scheme gives residents access to information and advice on how they can be energy efficient and save money.
The council scheme helps residents to ensure they are getting the best value out of their energy providers by joining up with the London-wide switching campaign, The Big London Energy Switch. Using an auction-style system, energy companies are allowed to put forward their most competitive rates, thereby bringing cheaper energy tariffs to anyone who has registered their interest.
Following the last auction which was held in November, residents in Tower Hamlets could see an average saving of almost £130 per year on their energy bills if they decide to switch provider, with most people seeing savings of around £160.
Residents who took part in the last auction have until Monday, January 13, to accept the offers made to them and switch providers.
The council will be holding a number of information roadshows to give residents direct advice about understanding the energy offer that has been made to them, as well as helping residents sign up to the scheme.
Residents can come along between 10am and 2pm on: Tuesday, January 7 at Watney Market Idea Store; Wednesday, January 8 at Chrisp Street Idea Store; or Thursday, January 9 at Whitechapel Idea Store.
Mayor of Tower Hamlets, Lutfur Rahman, said: “This is a fantastic result which is saving the majority of our residents on average £156 from their yearly energy bill. As energy prices continue to rise and the cold weather causing an increase in energy consumption it’s more important than ever for us to do what we can to help residents get the best deals possible.
“Council staff are available to help answer any questions you may have to make switching as simple as possible. I encourage residents to get in touch or come along to one of our roadshows to find out more.”
To register your interest now, with no obligation to switch your energy provider, call 0800 508 8364 or go to www.towerhamlets.gov.uk/energy for more information.