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Oct 22 Price cap anomaly? Prepayment electric cheapest option?
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Looking at the OFGEM figures it appears that the prepayment electricity rates are now cheaper than DD or paying on bill but it's not the case for gas. I've not seen anything announced for the reasoning, anyone got any info?
Example for North West
DD £1665
SC £1766
Prepay £1655
Not a lot in it but previously prepay has been more expensive than DD. Good news really as I guess most people on prepay are the ones struggling with bills.
Example for North West
DD £1665
SC £1766
Prepay £1655
Not a lot in it but previously prepay has been more expensive than DD. Good news really as I guess most people on prepay are the ones struggling with bills.
Remember the saying: if it looks too good to be true it almost certainly is.
2
Comments
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The standing charge for PPM is still a little higher than DD, but the kWh charges for electricity are lower, and in combination it makes the 'typical' user about £10 better off on PPM for electricity.With gas it looks like both standing charges and kWh are around £35 or so more expensive on PPM than DD, so around £70 more in total.Both DD and PPM still remain cheaper than standard credit though....0
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