Paying in advance

_mudskipper

Is it possible to pay in advance for gas/electric and get at today's prices?

chris1973

No.

Changes to the KW/H rates all take effect on the dates when it is announced by each company. From then onwards what you use will be billed at the new rates.

So even if you have DD credit from overpayments during the summer or have somehow paid in advance, the new tariffs would still apply from the dates they become active and the higher bills just be deducted from that credit accordingly. You can't lock yourself into a better / existing deal just by having credit with the utility company.

The only people to take advantage of lower rates are those who have locked themselves into a fixed rate tariff.

_mudskipper

Thanks for the reply. Shame - I remember paying in advance when they first introduced VAT many years ago!

gazjoneswales

_mudskipper wrote: »

Is it possible to pay in advance for gas/electric and get at today's prices?

The only way to actually pay todays prices in advance is to submit much higher than correct meter readings now and then claim you have used nothing until your meter actually catches up. Though I would not advise you do this as:

1. A meter reader may attend your property and then the company will realise your meter reading is incorrect and you will receive a revised bill at the correct rates.

2. It will change your estitmated annual consumption, which will have a knock on effect on any payment plans.

3. I would of thought that this was illegal (possibly falling under the fraud area) though I would think it would be very difficult to prove that you were deliberatly trying to commit fraud.

(i am not an expert on part 3 so if im wrong please correct me)

useless_git_requires_wife

SP have a pay in advance tariff. You give them a lump sum and you'll always pay 5% less than the standard, pay by dd tariff until that sum is used up (which can be never if you keep topping up). You can choose to have the standing charge tariff or non standing charge version. There is no contract tie-in.

This seems to work out cheapest for me compared to all other tarrifs from any company.

I understand this is not exactly what you were looking for as you are hoping for a fixed rate but thought I'd mention it just in case.