Would a credit meter be cheaper?

Mirandoch

Dunno yet if I can change - have to find that one out . But I know I can change my electricity company if I want to. Live in a block of flats and have a prepayment meter, into which I put £10 every week. That seems kinda expensive, considering it's not even winter - I dread to think how much it will cost when winter does arrive.

And if nobody answers this one, I'm !!!!!!ing off.

molerat

A credit meter gives you access to cheaper tariffs so can be cheaper but can also lead to you getting into debt by not monitoring your use.

spiro

The costs with a ppm are on a par with a credit meter if you pay on receipt of a bill, when it gets cheaper is if you pay by monthly direct debit. You don't say if the flat is all electric or do you have gsh?

sheffield_lad

Are you all electric or do you have gas? If you are all electric you really need to build credit up before it gets cold if you think £10 a week is a lot (it is not btw), you will be putting much more in during the winter.

As others have said it is no cheaper unless you go for DD, but you risk running up large debts if your not good at looking after your finances. GL

macman

A PPM costs the same as the supplier's Standard tariff.

[Deleted User]

Heres a couple of prices with dd v ppm..EDF ppm electric 14.4 p/kwhr..dd 11.8p kwhr , same daily standing charge.EDF gas ppm 4.6 p/kwhr..dd 3.2p/kwhr
British Gas, ppm electric 13.2 p/kwhr..Sainsburys energy ( British Gas ) is 9.8 p/kw..big savings of over 25% with a dual fuel one year fix on direct debit..Get the yearly consumption in kwhrs before filling in a comp site to get the monthly direct debits more or less correct. These are S.Yorks area prices

footyguy

Mirandoch wrote: »

Dunno yet if I can change - have to find that one out . But I know I can change my electricity company if I want to. Live in a block of flats and have a prepayment meter, into which I put £10 every week. That seems kinda expensive, considering it's not even winter - I dread to think how much it will cost when winter does arrive.

And if nobody answers this one, I'm !!!!!!ing off.

Consult a comparison site

Mirandoch

Sorry. The whole flat is electric, yeah.

If you are all electric you really need to build credit up before it gets cold if you think £10 a week is a lot (it is not btw), you will be putting much more in during the winter.

That's what a friend suggested, and what I've started doing. If electricity is going to be £40/month over the summer, then I'm terrified what the winter will be like.

As others have said it is no cheaper unless you go for DD, but you risk running up large debts if your not good at looking after your finances. GL

I'm not worried about going crazy with electricity. I'll be careful no matter how I pay. It's just that I don't know what to expect, as this is the first time I've lived on my own and paid my own bills. Not in contact with my family because we had a bust up. In all honesty I am out of my depth. I'm so depressed I can hardly think straight half the time.

Anyway the message I get is that direct debit is cheaper. Savings of approx 25% are worth it, so I guess I'll see if I can do that. Thanks folks.

sheffield_lad

Your current spend of £40 per month is already very low considering you are currently heating your water via immersion.

We don't have many facts about the size of your property but as a rule a typical 3 bed property the average bill (inc heating), is around £100-£110 per month.

This will vary (especially as your all electric), but you should calculate around 60% of your use for heating/water heating. Check your EPC it will give you an idea of running costs or see what neighbouring properties pay each month.

GL

t0rt0ise

It's not cheaper with a credit meter just because you can use direct debit, it's also that you have a choice of tariffs. Some suppliers will change the meter and some won't. Who are you with now?

Mirandoch

My flat is a 1-bedroom property. It's on the ground floor if that makes any difference (heat rises; that's about all I know :-/)

Had to google EPC. I don't have a copy in the flat. Found one to download, but the date of the assessment/certificate was 2009, so a bit out of date now. The estimated energy use came out at £386, for lighting, heating and hot water. Hmm... Seems pretty low.

It's not cheaper with a credit meter just because you can use direct debit, it's also that you have a choice of tariffs. Some suppliers will change the meter and some won't. Who are you with now?

I'm with Southern Electric. I found a leaflet for something called My Home Energy Switch, which seems to be a service for social housing tenants (which applies to me). I'll give it a go now, 'cos I've got nothing better to do on a Saturday night... :-/