Opt out of DD but pay by prepay instead?

Dannii75

Can someone tell me if this is an option...
Is it possible to opt out of paying for electricity by DD & going to a pre-payment instead? that way I'd feel more in control of what I can afford to spend. It's the only way I can find to take back control! 
Thank you! 

GingerTim

Do be aware that prepayment rates are more expensive than when you pay by direct debit.

[Deleted User]

If you come off of direct debit you will end up paying an extra 6% on your energy bill.

Ultrasonic

The video in the following link covers the cost aspect mention above:

https://www.moneysavingexpert.com/news/2022/03/energy-price-hike-direct-debit/

Do you have a smart meter? Provided it's properly set up you can use the in-home display to show what you're using/paying each day, which may help?

Dannii75

Ultrasonic said:

The video in the following link covers the cost aspect mention above:

https://www.moneysavingexpert.com/news/2022/03/energy-price-hike-direct-debit/

Do you have a smart meter? Provided it's properly set up you can use the in-home display to show what you're using/paying each day, which may help?

Thanks. No, I've been asking Octopus for a smart meter but they're not replying. I could really do with one! I have eco7 & their online breakdown of daily kwh doesn't split it down by non/eco7. 

Ultrasonic

Without a smart meter you can still monitor usage the old-fashioned way, by taking regular meter readings and calculating the costs yourself. 

lohr500

Deleted_User said:

If you come off of direct debit you will end up paying an extra 6% on your energy bill.

Depends on your supplier, region and tariff. As a high user of off peak electricity, with EDF in Yorkshire, if I was still on the EDF DD Economy 7 tariff, I would save money moving to prepayment Economy 7!! Standing charge is higher as is the day rate, but the off peak rate is lower. Across my total consumption I would be better off on prepayment.
Doesn't make sense to me, but it is what it is.