Smart meter Vs pre payment meter

Jontpriest

Hi all
I'm currently with green star energy for both gas and electricity, having gone over with the Big Switch last year. They contacted me to book in a smart meter installation, which is scheduled for next week. Now my wife says she would like a prepayment meter put in instead as she wants to take over paying the utility bills, and says that pre payment meters are cheaper. I was always under the assumption that they were more expensive. Any advice? Thanks!

[Deleted User]

Have your wife read this article and then decide which is cheaper.
https://www.moneysavingexpert.com/utilities/switch-prepaid-gas-electricity
Hint from the article

However, with a prepayment meter you're still likely to be paying more for your energy than you would on a credit meter. This guide shows you how to change meters or switch energy supplier to save £100s.

House_Martin

Jontpriest wrote: »

Hi all
I'm currently with green star energy for both gas and electricity, having gone over with the Big Switch last year. They contacted me to book in a smart meter installation, which is scheduled for next week. Now my wife says she would like a prepayment meter put in instead as she wants to take over paying the utility bills, and says that pre payment meters are cheaper. I was always under the assumption that they were more expensive. Any advice? Thanks!

Your wife is wrong. They are marginally cheaper than standard variable tariffs but nowhere near as cheap as the best yearly fixed tariff deals.Visit Uswitch armed with your yearly usage in kwhs to prove it.
With the advent of smart prepayment meters I think they should be as cheap as fixed yearly tariffs. Smart prepayment meters do not have to be burdened with a middle man paypoint cut or costly key and card meters constantly being damaged or breaking down requiring frequent call outs.
Maybe soon suppliers will offer better deals for smart prepay over dumb prepay meters

Jontpriest

Thanks! Thought that was the case. Though she's adamant that Martin recommended everyone get a prepayment meter.
I know what you mean about smart prepayment meters. They should have the same or better deals

Michaelw

Prepayment with British Gas is cheaper then their standard credit tarriff.The days ignoring prepayment are over with todays cost of energy.Their are deals but these are tied to expensive direct debits,tie ins and other conditions such as leaving fees and online access.

Charade

Greetings,


My current Economy 7 tariff (very cheap compared to latest prices) with Npower ends June 30th and I've been looking at various companies recommended by MSE Cheap Energy Club and I think I've settled on Bulb, well I'll give them a go at least. They can't be any worse than Npower at customer service.


However, I thought I'd give Npower a go at quoting me for the next year or so. Their fixed tariffs are all much more expensive than I'm currently paying (currently £895/yr 'til July, with their "cheapest" for the next year or so being £1268/yr) I knew that prices were higher now than 2.5 years ago but even so this comes a quite a shock.


Bulb come in at £912/yr i.e. almost the same as now. Hooray.


Now the point of this reply. Npower offered me a prepayment tariff (means changing my meter) which comes in at £895/yr with NO exit fee. I've read MSE's article about prepayments but I can't see the pitfalls.


Well that's not strictly true as probably I would have difficulty in the future changing back to a "normal" meter sometime in the future.


It does mean that with a little pre-planning I can continue paying the same price for electricity - barring price increases of course.


Or have I missed something? Still probably change to Bulb.


AndyW