Correct advice circulating on social media?

Bungle5393

The attached post is currently being circulated on social media, can anyone confirm if this is correct advice?

markin

The rate is over the air?

PennineAcute

It is true for key meters, but it will come back and bite you further down the line.

Smart meters it will not work with.

Curiousgirl1

Yes I believe it is correct but only if you have the old style pp meters NOT smart PAYG.  The meter only updates once the key has been charged at a paypoint as that is how any information is transferred onto the meter. If you top up with the max prior to 31 March what you use will only be charged at the old rate & wont update to the new rate until the key has been charged again & put into the meter - transferring the new prices. In theory the energy company can work out the difference, but in all my time I’ve never known it to happen. It would take too long & too many man hours - sorry person hours - to be worth it. 

PennineAcute

I suppose, if you had the available funds, you could top the key up to the max - add it to the meter - and then re-top the key to the max.  When the initial top up runs dry, the key will still hold the old rates and you then get further cheap rates.

In sport, this would be called gamesmanship.

Richardharding2022

I just spoke with my energy provider and they even give information on how to do this correctly !
You can load the electricity meter ( old style prepayment ) with roughly  £250 before October the 1st . Then , also before October , charge the key with another £250 . . . .  Then run the first £250 down to almost nothing . . .then insert the key with another £250 . .and the whole £500 will be taken off at the pre October prices .
It also works with some gas meters , they will hold £999 ! , but definitely not Siemens meters . 
Also , with electricity , it will not work if your supplier is Scottish power .
A word of caution though . . If you charge the key . . even with £1 . .in a shop/ post office , on or after the first of October .
Without even putting the key in the meter . . . then any money you have on the meter will start to be taken off at the new higher prices . . . this is especially worrying now that the government are giving people £400 via their relevant energy provider .  .who are then going to issue voucher codes via text/email . .at £66 per month .
             This has the potential to cause unnecessary hardship .
               If , for example , someone has only been told half of the story . . .and they have managed to put £200 on the meter before October . . .
But then receive the first voucher code for £66 . . .and take it to a shop to charge the key on or after the first of October .
As soon as the key is charged . .  All of the  £266 will immediately begin to be taken off at the new higher prices !
                 I am currently working at contacting all the energy companies to see if this will work . . .and will return to this thread soon with an update . 
                  It definitely works with Bulb Energy though . . .
                  Good luck all .
                         

Section62

Richardharding2022 said:

             This has the potential to cause unnecessary hardship .
               If , for example , someone has only been told half of the story . . .and they have managed to put £200 on the meter before October . . .
But then receive the first voucher code for £66 . . .and take it to a shop to charge the key on or after the first of October .
As soon as the key is charged . .  All of the  £266 will immediately begin to be taken off at the new higher prices !
                 

The reason for getting the £66 is to reflect the increase in costs.

It isn't hardship if the consumer can continue to use energy at the old prices, or take advantage of the government money to reduce the effective price paid for energy at the new cap level.