Fixed energy quote or stay pre pay

readingcoffelover

Hello so for almost 3 years i have been using a pre payment meter but ive moved into a new flat and my meter is in a communal cupboard up high which is a pain to keep topping up. I was looking at fixed electricity rates and was so confused on a comparison website I got this quote:
Personal Projection: £797.98
Monthly direct debit: £66.50
Exit fee: None
Rate type: Fixed until 31 May 2021
Is this good in the 2 bedroom flat there's me my 3 year old and 8 months old baby.
Help im so confused so would i pay £66.50 a month unless i use more of what was esmatied? 🤔

JJ_Egan

You pay for what you use.
DD and Projection are no more than estimates .
Use less pay less use more pay more .

readingcoffelover

Is it worth it than? Im still confused? Its a fixed term im just worried im going to get billed like £100. On pre payment i use around £15 a week.

Robin9

£15 a week is about £66.50 a month

readingcoffelover

So would it be kinda the same? Sorry for all the questions I dont want to get a fixed term monthly direct debt than get into debt.

Robin9

The advantage to you will be one of physical convenience..

wild666

readingcoffelover wrote: »

Hello so for almost 3 years i have been using a pre payment meter but ive moved into a new flat and my meter is in a communal cupboard up high which is a pain to keep topping up. I was looking at fixed electricity rates and was so confused on a comparison website I got this quote:
Personal Projection: £797.98
Monthly direct debit: £66.50
Exit fee: None
Rate type: Fixed until 31 May 2021
Is this good in the 2 bedroom flat there's me my 3 year old and 8 months old baby.
Help im so confused so would i pay £66.50 a month unless i use more of what was esmatied? 🤔

My place is a two bedroom flat as well and I pay £67 a month with Bulb but could drop it down to £51 if I wanted that doesn't sound too bad for a two bed flat

readingcoffelover

Is than a fixed or variable plan? I know it depends on where you live aswell

[Deleted User]

readingcoffelover wrote: »

Help im so confused so would i pay £66.50 a month unless i use more of what was esmatied? 🤔

The fixed part refers to 3 things only.
1. The cost of a single unit kWh of energy
2. The daily standing charge
3. the time period during which the 2 costs above will not be changed.

So what you pay will depend on how much energy you use.
So you could run up a large bill as the energy will not stop flowing (unlike in a prepayment meter which will stop when the credit has gone)

If you do decide to go with a credit meter, please ensure that you read the meter(s) at least monthly and submit the meter readings to your supplier to get an accurate bill. It will take some getting used to as you need to change you mind set from "well the electricity will stop when I've spent the money" to the "I need to reead my meters and get a bill to keep on top on how much I'm spending"

Michaelw

If you stay with the same supplier your bills could possibly rise on a standard tariff,the direct debit savings over a twelve month period are not that great either.If you pass a credit check if needed and prepayment is gone it can be hard to get back on again then theres a credit report to consider.

PennineAcute

Who is the supplier who has given you the quote?