Quick question

kimp22

Hi all I am on prepayment meters should I take my meter reading on Friday. I have about £100 credit on gas  now and know that you have to top up for the increases to go on but I won't be for a while hopefully (trying not use it much) or should I just put £10 on on Friday to make sure it done and I don't get a big bill. 

Any advice 

Kim

Gerry1

If you're trying to top up to get the existing rates after 31 March, that won't work.  For gas meters, the loophole turned out to be wrong.

https://www.moneysavingexpert.com/news/2022/03/martin-lewis--warning-the--top-up-prepay-meters-before-april--tr/

kimp22

No I am with Scottish Power and they have said they will reclaim money back. I just don't want to end up with a big bill because I am hoping it will take a while to get through £100 which at the moment would last me about two months. So if I top up on Friday will in apply the new charges and from them I would be on the news charges and I won't end up with a big bill. I am on benefits and claim carers allowance so I use that once a month to top the meters up usually by £90 each.

Kim

jimjames

If you're on prepayment meter do you even need to take a reading? Doesn't your use get deducted from the balance and you don't need to give readings to anyone? (excuse the ignorance, I've never had a prepay meter)

kimp22

We used to have meters readings done by someone years ago. But by rights I can only use what on meter. But if the meter doesn't update with the new charges straight away then I would be using the old price till I top up. But because I have £100 and don't get carers allowance for another couple of weeks. I would be on old charges then when I top up it could take a big amount of straight away to cover the new cost. I am stressing about how I will be able to cover the cost but also like to know exactly what's on it.

Kim

JohnSwift10

Forgive me for what seems a stupid question but when you are on a prepayment meter does that not mean that you put money on a key that is then used to pay for the energy you use so why would putting extra on your key benefit you?

Its not as if you "buy" say, 1000 kW on Friday and don't have to buy any more energy until you have used that 1000 kW.

Or have I got it all wrong?

Gerry1

JohnSwift10 said:

Forgive me for what seems a stupid question but when you are on a prepayment meter does that not mean that you put money on a key that is then used to pay for the energy you use so why would putting extra on your key benefit you?

Its not as if you "buy" say, 1000 kW on Friday and don't have to buy any more energy until you have used that 1000 kW.

Or have I got it all wrong?

Apparently the rates for some non-smart electricity PAYG meters are determined at the time the key is loaded, a bit like buying first or second class stamps as opposed to ones with a monetary value.

kimp22

Well topped up this morning and it has now applied the new charges its £3.31 electricity standing charge and 27.79 units. Gas is 3728 standing charge and 7.323 per unit.


Kim

QrizB

kimp22 said:

Well topped up this morning and it has now applied the new charges its £3.31 electricity standing charge and 27.79 units. Gas is 3728 standing charge and 7.323 per unit.

Thank you for letting us know.

MWT

Gerry1 said:

JohnSwift10 said:

Forgive me for what seems a stupid question but when you are on a prepayment meter does that not mean that you put money on a key that is then used to pay for the energy you use so why would putting extra on your key benefit you?

Its not as if you "buy" say, 1000 kW on Friday and don't have to buy any more energy until you have used that 1000 kW.

Or have I got it all wrong?

Apparently the rates for some non-smart electricity PAYG meters are determined at the time the key is loaded, a bit like buying first or second class stamps as opposed to ones with a monetary value.

... and the extra catch with the gas meters is that unlike prepay electricity meters, the gas prepay keys can also be loaded with the next price change, so the loophole was never going to work for most of them anyway.