Energy Prepaid Meters

3nigma

Is there anything you can do if your energy provider is charging higher rates for a prepaid meter compared to a smart meter on direct debit? I thought the law changed that Energy providers were not to do this? In my case the energy provider is Utility Warehouse but not sure if this is isolated or other companies are doing the same. The reason I'm asking is because I want to switch to a prepaid meter, control my expenses and earn cashback on my card while topping up. I don't want to switch to a prepaid meter if the unit rates and daily charge is more expensive.

la531983

Rates vary by a) region, and b) payment method.

What are you being charged, and what region are you in? Someone can confirm if the rates are correct. Why do you believe they are wrong?

The current caps (until the end of this month) can be found here on Page 30:

https://researchbriefings.files.parliament.uk/documents/CBP-9714/CBP-9714.pdf

Generally, standing charges are higher on prepayment but the unit rates are slightly lower, as you can see.

If you are being offer a fixed rate though, none of this applies and they can charge what they like on those, but the capped rate needs to be offered also.

QrizB

3nigma said:

I want to switch to a prepaid meter, control my expenses and earn cashback on my card while topping up. I don't want to switch to a prepaid meter if the unit rates and daily charge is more expensive.

If you are on the single-rate SVT, your tariff from October is likely to be similar to those shown on the EDF rate card:

https://www.edfenergy.com/sites/default/files/dm1920_standard_variable_deemed_and_welcome_-_standard_e7_and_prepayment_meters.pdf.pdf

The smart PAYG standing charge looks to be about 7p/day higher than when paying by DD, but the unit rate is about 0.5p/kWh cheaper.

superkoopauk

The government has committed to ensure PPM customers pay the same as DD customers (on average!).  This is being done through the EPG scheme (currently a discount on the unit rate but moving to a standing charge discount in October).