Amount of money can you have on a smart meter

kimp22

Hi I received a winter home support today and wondering how much can you have on at most on a smart meter. I have only had the smart meter about 3 weeks so not sure. 

[Deleted User]

Do you mean a pre payment meter? A smart meter just measures your usage and removes the need for manual readings. You don't put money on it.

I'm not aware of a credit limit for pre payment.

Mstty

Deleted_User said:

Do you mean a pre payment meter? A smart meter just measures your usage and removes the need for manual readings. You don't put money on it.

I'm not aware of a credit limit for pre payment.

Your can get pre payment smart meters. 

There is also a limit you can put on the meter you are thinking of and the key.

[Deleted User]

Mstty said:

Deleted_User said:

Do you mean a pre payment meter? A smart meter just measures your usage and removes the need for manual readings. You don't put money on it.

I'm not aware of a credit limit for pre payment.

Your can get pre payment smart meters. 

Indeed. That's what I asked if the OP meant a pre payment meter.

kimp22

Yes it a prepayment smart meter only in electricy they couldn't do the gas. I want to put all of it on the meter now then it's there and I won't be able to use it for anything else.

Thanks 
Kim 

macman

Then you are effectively giving your supplier a free loan. 

MWT

macman said:

Then you are effectively giving your supplier a free loan. 

.. for some, that is better than having it in the bank and risking it getting spent on other things...

I'm sure the OP knows what will work best for their situation.

kimp22 said:

Hi I received a winter home support today and wondering how much can you have on at most on a smart meter.

You will need to check with your supplier and they should be able to tell you the maximum you can store on the meter.

Marvel1

macman said:

Then you are effectively giving your supplier a free loan. 

Is it different to the direct debit system and being in credit just sitting there if someone is overpaying?  Trying to work out myself I'm better on prepayment or DD method.

macman

Marvel1 said:

macman said:

Then you are effectively giving your supplier a free loan. 

Is it different to the direct debit system and being in credit just sitting there if someone is overpaying?  Trying to work out myself I'm better on prepayment or DD method.

DD is only the same if you don't manage it properly and allow too much credit to build up. It should be set at your annual estimated billing /12. 
If you use PPM's then you are instantly paying about a 2% surcharge, so that's about £70 under the price cap. And you pay in advance, without 30 days credit.
In those halcyon days of cheap fixes, monthly DD was usually the only method accepted.

PennineAcute

If people used PPM in the same way as credit meters, a lot of the winter shock (more in the past) could be overcome.