Am i paying a fair price for pre paid coin meter?

HappyMJ

new2012 wrote: »

I would love to know where this mythical 10p per kWh tariff is that everyone use as a standard for electricity. I just put my details into uswitch and top of the list is Eon with

Electricity24.41p per KWh (23.25p excl. VAT)11.23p per KWh (10.69p excl. VAT) above 900 kWh p.a
No way does that work out at 10p per kWh

4200 kWh for £542.93 gives 12.92 p per kWh.

You are right 10p a unit tariffs don't exist any more for average usage on standard tariffs. The cheapest secondary rate is about 10p and the more you use then the closer the average rate becomes 10p. In my area the East Midlands OVO Energy's secondary rate is 9.345p/kWh. With a standing charge of £105 per year. So if you used 16,150kWh per year then the average unit rate is 10p per kWh.

and that's for payment by direct debit. The cheapest prepayment charge is much higher. Ebico's rate is 14.501p/kWh and that is the rate I would expect a coin meter to charge. So the OP should get 6.896kWh for £1.

macman

I am on EDF Fixed Saver v2 and paying 9.93p per kWh (secondary rate) incl VAT.
Admittedly this is not currently available, but only recently so.

new2012

I am on EDF Fixed Saver v2 and paying 9.93p per kWh (secondary rate) incl VAT

but what is your standing charge?

You may be paying 9.93p per kWh but if you divide what you are paying by what you have consumed it will be more than 9.93p.

More likely 12p per kWh.