Prepayment v Normal Meter

Penguin_

Hi All


So I have had prepayment meters in the house that I bought, & live in, 3 years ago. I tend to stick £20 on each meter (Gas & Electric) each month on Payday but I don't really know whether I am better off on this type of deal. I'm currently paying:


Gas 3.55 per unit & 28.31 standing charge
Electric 13.73 per unit & 26.56 standing charge


My usage, calculated by last bill over the 12 months was 982 kWh of electric & 1862 kWH.



Are there any real negatives to being on a prepayment meter?

Gerry1

Yes. You pay much more.

https://www.moneysavingexpert.com/utilities/switch-prepaid-gas-electricity/

WhoIsThat

Penguin_ wrote: »

Hi All


So I have had prepayment meters in the house that I bought, & live in, 3 years ago. I tend to stick £20 on each meter (Gas & Electric) each month on Payday but I don't really know whether I am better off on this type of deal. I'm currently paying:


Gas 3.55 per unit & 28.31 standing charge
Electric 13.73 per unit & 26.56 standing charge


My usage, calculated by last bill over the 12 months was 982 kWh of electric & 1862 kWH.



Are there any real negatives to being on a prepayment meter?

You may wish to double check that gas consumption figure

I know people who claim their pilot light alone uses more than that.

Or put another way, that usage at the tariff you specify means you are crediting your gas meter with over £70 a year more than it would cost you. If you've done that for the 3 years you ahve been in the property, your gas meter would have almost a years credit on it by now, if all your figures are correct.

Gerry1

WhoIsThat wrote: »

You may wish to double check that gas consumption figure

The OP is probably referring to cubic metres. It's around 20,734kWh.

WhoIsThat

Gerry1 wrote: »

The OP is probably referring to cubic metres. It's around 20,734kWh.

The OP would not be getting that amount of gas for £20 a month on the tariff specified, or any available tariff

Gerry1

WhoIsThat wrote: »

The OP would not be getting that amount of gas for £20 a month on the tariff specified, or any available tariff

I wondered who'd be first to spot that...

Penguin_

The figures are correct, I used my last 12 months bills & converted the gas to kWh using the formula they used. I have a log burner which heats the majority of our quite small home.