Fine Gael Dublin Senator, Catherine Noone, has today (Monday) said the success of the Big Energy Switch proves that by acting as a collective, consumers can greatly improve their bargaining power. More than 22,000 people have already joined the initiative, which aims to empower consumers to reduce energy prices.
“Customer collectives such as the Big Energy Switch are an important and useful way to leverage the very best deals for segments of the market, particularly when it comes to utilities such as electricity, gas or even TV and broadband packages.
“With a total energy purchasing power of €44 million between the members of this group, it’s fair to say that whichever energy company offers a better discount will stand to gain a substantial number of customers.
“Consumer collectives don’t have to be on such a large scale as the Big Energy Switch; for example at a local level I know of residents associations which have clubbed together and used their bargaining power to achieve discounts on waste disposal for residents of a given street or estate.
“It’s important that consumers know that, if they act as a collective, they gain great bargaining power. In fact, international experience shows that up to 10% could be knocked off the cost of annual bills through the powers of a collective.”