Is a key meter the best option for me?

Justme29

I am due to move into my new home this week and there is currently a key meter installed, after speaking to my dad, he said that this is the most expensive option, and I should pay by being billed each quater(or whatever it is)

Is a key meter the more expensive option?

I also have a poor credit record, and was just wondering whether this would also make a difference to whether I will be allowed to pay the bill quarterly, or if I will have to stick with the key meter.

macman

Key meter is more expensive than the cheapest online tariffs, yes. You can get the meter changed for a credit meter, but you may have to pay for a meter change, depending on the supplier, and maybe put down a deposit as well.

spiro

In terms of costs the tariffs are typically:

1) Online account pay be DD - cheapest
2) Pay by DD
3) Pay or receipt of bill or ppm - most expensive

If you have a poor credit rating the supplier may not change the meter. Some will but will require a several hundred pound deposit and you will have to go on a tariff that is paid by DD.

Muhasib

you could try 'Ebico' as they only have the one price regardless of payment method, in your circumstances its worth checking out compared to what your existing tariff is.

mattcanary

British Gas or EDF (possibly) may be prepared to take out a prepayment meter free of charge.

Most suppliers credit-score you before considering this request. However, I am not sure how this is done - I have an atrocious credit-rating (albeit utility bills have normally been paid promptly) yet I passed Southern's credit scoring system. when I wanted the prepayment meters in my flat removed.

tkwad

tbh i would stay with ppm. least that way you dont end up in horrendous debt like i have