Profits from Norwich City Council’s Big Switch and Save scheme will be reinvested
Questions about whether Norwich City Council stands to make profit from its latest scheme to help fight fuel poverty have been answered by the council's leader.
Brenda Arthur has moved to clarify the council's financial implications of the Norwich Big Switch and Save initiative, which was officially launched at City Hall on Monday morning.
The city council hopes the collective-buying scheme could save residents up to �200 on their energy bills per year and stop �10m leaving the Norwich economy every year.
The aim of the scheme is for people to register for the scheme for free and then the council can attend an auction with energy suppliers, and negotiate a lower rate for the group.
The council is working with a company called iChoosr, which has been involved with more than one million people switching providers in Holland and Belgium.
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Mrs Arthur has confirmed that any profit from the scheme will be reinvested, saying: 'Any income the council receives from switching fees paid by energy companies will be used to pay for the costs of setting up the scheme.
'If the income received exceeds the set-up costs it will be put forward as part of the council's budget for next year that this money should be used to support other work to reduce fuel poverty in the city.'
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Registration is free and there is no obligation to take up the deal that is negotiated.
People need to register online by Sunday, November 25 or by Friday, November 16 if they are not using the internet, at https://norwich.ichoosr.com