Pre-Paid Electric Meter

R-evans

R-evans

R-evans

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Currently looking for flats in London as my wife has a new job down there and I am in the process of finding one.

One we really like has a pre-paid meter for electricity which we wasn't aware of before we looked and have never had any experience with.

Any benefits to having one at all? Just same as getting billed monthly? Avoid?
 
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Almost exactly the same as normal meter pricing these days if I remember correctly, when we last had a house with one BG were starting to roll out a usb gizmo meaning you could top the key up at home as well so no having to trudge to the shops in the rain to reload it.

So definitely no reason to discount a place, the landlord might even be happy for you to switch it to a normal meter if you ask.
 
They're more expensive for obvious reasons, plus there is a real risk you will end up paying off the previous occupant's debt.

Switch it for monthly direct debit is my advice.
 
delta0 said:
Most suppliers will replace it for free for a normal meter.
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We had one when we moved in, I think it worked out slightly more but it was a hassle to do so we got it replaced for free under the condition that if we wanted to move back to pre pay it would cost us £60 to reinstall it.
 
String said:
They're more expensive for obvious reasons, plus there is a real risk you will end up paying off the previous occupant's debt.

Switch it for monthly direct debit is my advice.
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Which is why you take meter readings before you move into the property ?!

Im currently on a meter (recently moved into new flat), electricity is about 1/2p more expensive per Kw/h + 27p (i think?) daily standing charge ,
previous tenenat had ran up £100+ debt on it, quick phone call to my supplier with the meter readings i took the day i signed the tenancy and they gave me a code to get put on the top up key to clear said debt.

Most suppliers will swap the meter (for free ) you just gotta ring and ask them .
 
user_name said:
Which is why you take meter readings before you move into the property ?!

Im currently on a meter (recently moved into new flat), electricity is about 1/2p more expensive per Kw/h + 27p (i think?) daily standing charge ,
previous tenenat had ran up £100+ debt on it, quick phone call to my supplier with the meter readings i took the day i signed the tenancy and they gave me a code to get put on the top up key to clear said debt.

Most suppliers will swap the meter (for free ) you just gotta ring and ask them .
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The suppliers are underhand with their efforts to claw back debts. At best you were lucky, and at worst you haven't noticed the tariff get tweaked back.

Unless you have literally no ability to leave the required amount of money in your bank to pay a fixed monthly DD, there is no conceivable reason to have a pre-paid meter.
 
I've had a prepaid meter for years and they're not a big deal. The electricity is the same price as a normal meter, going into the £5 emergency amount (which is what happens when the balance gets to zero) used to be charged at time and a quarter but that was deemed unfair on poor people so its the same now. Made no odds to me anyway because I just top it up once a month when my pay goes in and forget about it, never go into the emergency £5.

I prefer this over standard billing. My gas is on a normal meter and I have to provide meter readings and they still try and keep the direct debit high during the summer when my usage is low, their justification is that this is to compensate for the winter when my usage will be high. My argument is that I don't want to build up a credit of a few hundred pounds in someone else's account, I ask them to either lower my dd in summer or simply bill me for the debt.

None of this happens with my pre-payment electricity meter, I simply top it up once a month with £20 in summer and £35 in winter. Thinking about it I'd prefer a pre payment meter for gas too because it'll stop me having to go online every year and lower the direct debit they keep increasing after every winter.
 
bainbridge said:
I've had a prepaid meter for years and they're not a big deal. The electricity is the same price as a normal meter...
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You are also paying for the key card, the machine that tops up the card, the shop that houses the card, the person that tops the card up, the system that tracks your every payment... It's all in the additional charges.

Paying all that extra money out just because you can't bear the thought of your money accumulating in someone else's account really is the definition of false economy and cutting off your nose to spite your face. You would be better off paying quarterly bills if that's your thought process, although that would be more expensive than DD also.

If you don't believe me, try inputting your usage figures into a price comparison website and see how many of them offer you a pre paid meter. ;)
 
had it in my previous place! hated the thing, running out was a PAIN.

much prefer getting a bill once a month.
 
Its nothing to worry about.
You can get it switched to a normal credit meter free of charge from your supplier.
PP is generally more expensive than a normal credit meter with either a quarterly bill or a direct debit (DD has a 5-10% discount compared to quarterly, depending on provider).
Get it switched ASAP is what I would say.

If you don't like having money sitting in "someone elses" account, go for a quarterly DD as its the same as a normal bill accept its taken as a DD every 3 months for whatever you have used.

Also bainbridge that only happens because you are on a monthly DD, it cant be controlled and fixed at a set price throughout the year, it will change about twice a year. You accepted that when you agreed to it, switch to quarterly DD if you dont like it.
 
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String said:
They're more expensive for obvious reasons, plus there is a real risk you will end up paying off the previous occupant's debt.

Switch it for monthly direct debit is my advice.
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no they are not, no there is not.
you can see any debt on the meter and they will clear it when you explain your a new tenant....

also if its in negative balance they will reset it or add the money back on the meter when you tell them.

unless its a smart prepaid meter then they are getting phased out and replaced
 
Maundie said:
The price per unit (either gas or electric) is the same as a DD account, this was changed quite a few years ago.
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Depends largely on which provider you are with.
Some of them charge more per unit than both a normal quarterly bill and DD. Which is why PP is a last resort in regards to debt and not paying bills on time.

Also yes arknor, they will clear it if you call, but allot of people dont even notice and phone up complaining the meter is eating the money they put onto the card. Its mainly down to the customers own stupidity and not phoning straight away though.
 
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If there is a prepayment meter there, take a reading, ring the supplier and give them the reads and do the change of tenancy with the new supplier. All debt on the meter will be removed as you are the new tenant and you wont be paying anyone else' debt.

The vast majority fo the time people do end up paying someone else' debt is if the customer cant be bothered to ring the supplier to tell them they moved in so the change of tenant isn't done until they do call and even then its backdated and corrected so you get the money back.

Short version is listen to what everyone else in the thread is saying and ignore String.
 
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