Prepayment Meter

[Bazile]

Anyone on / Do you know anyone on a prepayment Meter , for gas/electricity

[rowanwitch]

Know plenty of folk on them, main issue against a direct debit plan is you can't even out your payments through the year so you have to pay a lot in winter and less in summer which may make budgeting difficult. I believe it's the most expensive way to pay. Or at least it used to be.

[pastafreak]

I am.

[pastafreak]

I find it easier to budget with it.
According to my supplier, I'd not save a huge amount by switching to direct debit. It was something like £50 per year.

[Peter Pedant]

yeah lots
they pay more
and many people say when told to do a meter
say: I have a bad credit history ( sort of game over)

so put simply the increased charge is a hedge against the real risk. One tear jerker on tv showed her meter and zipped thro the pages and it looked as though she had clocked up £962 energy debt.
The presenter not being on a meter didnt realise she had flciked thro the debt page

[Bazile]

Family member is not working and can't afford bills .

Just wondering if it would be wise to get a prepayment Meter fitted .

That way he can pay as he use without having a big bill each quarter / month

[Ken4155]

I am on a prepayment meter but in order to get a prepayment meter fitted, i had to deliberately get myself in debt to BG by not paying my bill. This was quite a few years back and, to be honest, i find it works for me as i pay for my energy as and when it is used.

[ZebuSanctuary]

// increased charge is a hedge against the real risk. //

Might the prepayment be inclusive of standing charges (pro rata) too?

[bhg481]

Back in the day when you put real money into a pre-payment meterI could understand the costs being higher as someone had to phyically empty the meter every so-often. Now that the are filled electronically and can never get the owner into arrears shouldn't they be cheaper rather than dearer?

[pastafreak]

Mine was here when I moved in...and like Ken, I feel I have more control over what I use and when.
I seem to remember reading years ago that the standing charge was higher...not sure that applies now.

[Redhelen72]

My Stepmum is in one through choice, she knows how much to budget and I suppose is one of the lucky ones that is she is running low she can just top up and top up with the larger amount the following week

[Redhelen72]

Sorry months

[Redhelen72]

Bazile but is there a danger that he could end up with no heat and power?
Did he get all the extra payments he was entitled to?

[Dizmo]

I've had plenty of experience with Prepayment meters, and I personally can't stand them. The benefit to paying on receipt of bill (I don't pay by Direct Debit either) is that you have longer to pay, and if you don't pay your bill, they won't cut you off, not until you pile up a massive amount of debt any way.

With a prepayment meter, if you haven't got any money to top it up, you have no electricity/gas. I get why people have them so that they don't get into debt, however debt to the energy company is interest free (unless they sell the debt to a debt collector that is).

[jno]

https://www.theguardian.com/business/2023/jan/15/uk-energy-suppliers-stop-clawing-back-debt-prepayment-meters

[Milo2]

I get a monthly bill so I pay for what I use rather than by direct debit. It is more expensive but I feel more in control as I don’t build up any credit or debt.

[ZebuSanctuary]

// My Stepmum is in one through choice, //

Always thought a prepayment meter was a measure taken by the energy companies in the event the consumer falls into arrears.

Had not realise the customer could opt for one.

[Dizmo]

ZebuSanctuary, at one point that may have been the case.

My SIL used to have a prepayment meter, I think for the reason you mentioned in your post. I'm not entirely sure how much she was in arrears, however I do know that they were taking back an unlawful amount each time she topped up the meter. I looked after their house when they went on holiday and they had left me £20 to top up the meter. I thought, "£20? It doesn't need that much, I'll just put £10 on and spend the other £10 on a bottle of vodka". Oh what a mistake that was. I put the £10 on and it was immediately taken. Every time they topped up, they'd have to add an extra £10 to the amount.

I have since been told that the energy company shouldn't have done that, that they are only allowed to take a certain percentage, and that percentage isn't 50%.

It is one of the reasons why I don't like prepayment meters. Also, if your electric/gas run out at 2am (this has happened to my mate on more than one occasion) and for what ever reason you can't top up the meter online, you're screwed until you can get to the shop in the morning.

[lankeela]

There was one here when I moved in 24 years ago and I've stuck with it. Much prefer to know how much I have got left, rather than building up a bill that has to be paid in one go - and yes I realise I could put money away but realistically that ain't gonna happen. I top up online and the government grant goes on it automatically. I can check how much left and how much being used each day so if getting short I can turn off the immersion if necessary but I use it to heat my bedroom as well.

[lankeela]

Dizmo you get £5 credit automatically and my supplier won't cut you off evenings or weekends so plenty of time to top up.

[goodgoalie]

Lankeela - if you've been using a prepayment meter for 24 years you must have paid a huge amount in extra charges.
What are your unit charges now?