key meter question

proevofanatik

i heard that it is cheaper to pay your electricity direct debit rather than a key meter. is this true? why is this ? and how much less is it?

Alias_Omega

You really should be looking at the tarrifs for the energy provider.

You will see 3 tarrifs..

Pre-Payment
Direct Debit with standing charges
Direct Debit no standing charges

Im unsure why, but pre-payment is always expensive.

property.advert

Key meters are vastly more expensive. They are to be avoided at all costs.

Joyful

Most companies are bringing their pre payment meters in line with credit ones. I work for BG and our electric is the same price. This means you would need to check the difference between a credit bill paid when received and how much they would give as a discount for paying by DD.

torbrex

The average discount for monthly DD is something like 6% so it would be well worth your while checking with your supplier.

Premier_2

You need to look at your own supplier's tariffs.

Pre-payment meters are often more expensive than credit meters since they cost more for the company to service. e.g. supplying the key card, maintaining a load of outlets where you can top up, etc.

Direct debit tariffs are often cheaper because of the lower cost involved in processing DDs, monthly payments on account (easing cash flow) etc.

But it is not always the case. e.g. Ebico charge the same no matter which type of meter you have or which way you opt to pay.
I think I have seen at least one instance with a supplier where PPM was cheaper than a credit meter, although that was not paying by DD. ( I can't remember who that was though)

You need to check your supplier's tariffs to see what, if any, the difference is.

Kylie

On key meter (rental property) in *tiny* one bedroom house (only home 6.30pm-7.30am mon-fri + weekends) we average £15.50 per week - in the summer. (We don't have gas, just electric)

Not nice.

I am reluctant to see what it averages in the winter...

stokefan

property.advert wrote: »

Key meters are vastly more expensive. They are to be avoided at all costs.

i would agree that they are more expensive.....aslong as you dont get any faulty appliences or any gas leaks, atleast with a prepayment meter you can budget for them and dont have to worry about a massive bill coming through the door.

im only a low user though so dont wouldnt really notice a massive change though direct debit