Prepayment metres are great!!!

heinov

Let’s play the energy companies at their own game:

before the 1 April, I topped up my gas metre with£400 at the old tariff.

it went up by 54% the next day but my top up lasts me into October.

it gave me the option to either do it again before it goes up again or, if it had gone lower to just buy at the prevailing rate.

it’s a put option against the cap, binary.

as it turns out, I’ll be topping up again end of Sep to last me to April (even though it resets in Jan but likely even higher).

it’s a lot of money in one go but fully worth it.

What_time_is_it

I'm not sure that will work out like you think.
There was a lot of talk about this prior to the previous price increase around March time.
I hope you are right, I really do.

MattMattMattUK

Depending on the model of meter, there is a reasonable probability that when you go to top up again the meter will account for the previous usage being below the set rate, swallow all the credit and leave you with a debt on the meter.

heinov

That can’t be. If you buy at a price you can’t later be told you used gas below the current rate. It could’ve gone down as well, what then?
The only risk is company reps coming around and changing the tariffs on the metre. But they can’t do that with mine, it’s inside the house, not a chance.

victor2

heinov said:

That can’t be. If you buy at a price you can’t later be told you used gas below the current rate. It could’ve gone down as well, what then?
The only risk is company reps coming around and changing the tariffs on the metre. But they can’t do that with mine, it’s inside the house, not a chance.

You're buying credit in money, not kWh. It did work for some, but not all, before the last increase. Hope it continues to work for you this time.

[Deleted User]

Hi,

what type of meter have you got when it requires a visit to reset it, thought those were done away with years ago?

By the way, most folks call it a meter, metre is a measurement of length.

pochase

What you did was recommended by Martin middle of Mrch, but was retracted when many energy supplier told him what @MattMattMattUK just wrote. 

Many of them will calculate your usage at the new rates the moment you have to use your key.

Another issue will be the government vouchers of £400 for the prepaid electricity account. Many believe they will be time  limited and if you have a full key you will not be able to use them.

CanNeverThinkOfAUsername

I read this moneysavingexpert.com/news/2022/03/martin-lewis--warning-the--top-up-prepay-meters-before-april--tr/ just a few days ago, i feel it will help @heinov

heinov

frugalmacdugal said:

Hi,

what type of meter have you got when it requires a visit to reset it, thought those were done away with years ago?

By the way, most folks call it a meter, metre is a measurement of length.

Landis & Gyr (Swiss I believe) and yes, meter is correct bar the spell check 🤦‍♂️🤣
There’s only 2 ways to reprogram my meter, 1) somebody comes and does it or (most commonly) it’s programmed onto my card when I buy the next credit.

I took a video of all the settings end of March and obviously they haven’t changed.

will let you know what happens end of Sep.

and it’s only gas I’m talking about, I don’t pay for electricity. 🤷‍♂️

wakeupalarm

'Ah! Gas not Electricity, so wont be adding to these figures!

https://www.walesonline.co.uk/news/cost-of-living/electricity-theft-rises-record-high-24712324

Ultrasonic

wakeupalarm said:

'Ah! Gas not Electricity, so wont be adding to these figures!

https://www.walesonline.co.uk/news/cost-of-living/electricity-theft-rises-record-high-24712324

They have already said they don't pay for electricity through...