What are the advantages of a prepayment meter?
- A prepayment meter lets you control how you pay for your energy use, by allowing you to choose how much you spend and when
- Prepayment meters are like pay-as-you-go (PAYG), so you don’t have to worry about monthly bills
- If you find yourself with debt that you’re struggling to pay back, you can use a prepayment meter to repay set amounts over a period that suits you
- You can build up credit over the summer months to help pay for the winter months
- You’ll receive a statement each year showing how much energy you’ve used and the payments you’ve made, along with your current account balance
What are the disadvantages of a prepayment meter?
- To keep your energy supply going, your meter will always need to be in credit. Also, standing charges apply every day, all year round
- If you go away, you’ll need to top up your meter in advance to cover standing charges. This will make sure your energy stays on (e.g. for your fridge or freezer)
- You’ll usually have to top up more in winter, when it’s colder.
- If you lose your top up card, you’ll need to order a new one and may need to pay for it
- Prepayment tariffs may be more expensive, because they cost us more to set up and run