confused with electric

chris1804

hi all i need some help

i moved out from my parents house a few months back, the property i have is all electric,

im all new to getting the cheapest deal because ive been with EDF since ive moved in, there was a economy 7 meter in wich i has removed for a pre-payment meter only so i knew how much i was using and so i didnt get any nasty bills in the post,

but after reading about electric im sure i can get my cost down i need peoples help because i dont under stand the 2 rates of kwh

i currently put about £10-£15 a week on the pre-payment meter but i have storage heaters in the property and only come on at 12am so i guess economy 7 would be better for that,


i dont mind paying a fixed DD each month and getting rid of the payment meter if it means it will be cheaper for me, if i say £40 each month DD and if i go over that at the end of the year i would pay the differnce?

is that how it works?

McKneff

At the end of the year, if you are in a credit or debit balance, the electricity company will reasses your back usage, work things out from that including your old balance and re adjust your DD accordingly.

So if you used less than the £40 a month over the year and you had a credit balance, they may put the DD down to say £30/35

If you used more than your £40 a month they may put the DD up to £45/50 a month.

Prepayment meters are notoriously more expensive than normal electricity

I am with EDF on a Online Saver 6 or7

chris1804

im gonna give them a ring saturday to see if i can have that meter took out do they have a online prices on there website?

pinkarsenalprincess

chris1804 wrote: »

im gonna give them a ring saturday to see if i can have that meter took out do they have a online prices on there website?

If you go on the EDF website you can get an estimate for different tarrifs to see what it would cost over the year. Divide it by 12 to work out a rough idea of monthly payments.

We are with EDF and pay £35 a month for our electricity, which after a year we are now in credit with.

McKneff

If you want a free phone number for EDF let me know.

You may be stuck wit your meter for a full year if it was a contract you entered so
I would check before doing anything else.

chris1804

need some help, will my pre paymeter tell me how much ive paid in since its been installed? and how many units used?

just contacted edf and they said my DD would be £45 based on me putting £60 on prepaymeter and if paid by DD you get another 6% discount. cant i say to edf i want to pay more than they say so if they say £40 can i say i wanna pay £50? i just wanna be in credit at the end of the year

Premier_2

McKneff wrote: »

...Prepayment meters are notoriously more expensive than normal electricity...

Actually, nowadays they are usually about the same price as standard tariffs

What a PPM customer may miss out on is the various discounts such as paying monthly by DD, online account management, etc.

Premier_2

chris1804 wrote: »

need some help, will my pre paymeter tell me how much ive paid in since its been installed? and how many units used?

just contacted edf and they said my DD would be £45 based on me putting £60 on prepaymeter and if paid by DD you get another 6% discount. cant i say to edf i want to pay more than they say so if they say £40 can i say i wanna pay £50? i just wanna be in credit at the end of the year

Unfortunately the supplier decides how much they will take from your account by DD (after notice)

It is based on periodic reviews of you account. I would be wary of a supplier who is tempting you in with unrealistically low monthly payments - once they've got you kooked, they will re-assess what you actually are using and may increase the monthly amount as appropriate ... including any additional amount to payback any debt you may have accrued in the meantime.

I suggest if you want to set the amount you pay, you set up a regular savings account - pay into that what you want each month and (if you've got your sums right) use that amount to pay on receipt of bill for what you've actually consumed.