Energy chart, am I reading this right?

[Fuwari]

I got this from EDF today, I’m in London on a payg meter.
Now the standing charge is 5p more per day with a meter but the unit price, according to this is 1p cheaper! The first 2 columns are for a standard rate, the others are for economy 7 (I’m on standard) If I have read it right it means that I’m really not paying more on a meter and, dependant on use, I could be paying less than those on DD.

When you say PAYG meter, do you mean a coin/card one, or do you mean 'pay monthly/quarterly dependent dependent on what you have spent'?

I suspect their chart is for the latter when paid by direct bank transfer. I'd expect the former to be more expensive.

But I could be talking rubbish.

In the letter that came with it, they refer to payg as a card meter. As they said people with payg meters will be sent vouchers to top up the extra £400 we’re getting. Not sure there are any coin meters any more?

Those are old figures anyway.

It says prices effective from 1st October 2022 so it can’t be.

After 5units it breaks even and then in some areas the unit price will make it cheaper.

This is what it says at the top.

They are the old ones. I don't know why EDF are sending them out like this but they are. They don't account for government price freeze.

The prices are before the government's intervention so will be a lot lower now it says it at the top so not sure why they are sending it out as looks like scaremongering.

Ah yes it says at the top there before the discounts are applied. So pointless sending them like that!

But even in your chart the pre payment cost per kWh is still a penny cheaper than DD. This is what I don’t get.

Your understanding is still right with the new price cap.

Some prepayment tariffs are cheaper than DD. Ours is! We spend £2 a day including standing charge.

That's WFH, laundry, xbox and cooking for a family of 3.

Prepayment being more expensive is a myth (it used to be really expensive though!!)

It’s just that every time there’s talk on here re energy prices, people always say whatever you do, don’t get a prepayment meter, it will costs you loads more etc etc. I prefer it myself, I like knowing how much I have, not being stung with a huge DD or bill to pay. But everyone always said I was paying over the odds for the convenience. But this tells me I’m not.

It is pretty outrageous that they are sending out the old values, with a bit of a caveat at the top. It just adds to confusion further and also people will mentally justify why their direct debits are much higher than they actually need to be to cover the winter costs.

Yep, ours is around £2 a day as well. Also wfh, dishwasher, washing machine etc. When everyone was quoting the huge DD’s they were going to have to pay I couldn’t believe it, it was way more than I spend.

It used to be the case that PP was significantly more but it was regulated out. Now iir c they can only charge the extra admin costs and nothing punitive.

Yeah that's just silly. Prepayment isn't always more expensive (its an outdated view). We have an app and just top it up with £55 each month.

I love it! I love knowing my DD won't get higher. I love knowing exactly what I'm spending. My smart meter even gave me "insights"....

We have a direct debit for gas though.

Same! Weird isn't it. Just keep being mindful of your usage. x

Using this chart, 3000kwh of ele + the standing charge for a year would be £1195 on DD, or £1183 on prepay.

3000kwh of gas + the standing charge for a year would be £418 on DD or £459 on prepay. I think?

I’m also with EDF smart meter pay as you go as in no money on the meter no electric

my standing charge is 57.8 daily
unit charge 32.8p per unit

people always say pay as you go cost more
I’ve never found that to be the case
I would much prefer pay as you go to the huge direct debits people get
I will be using around £25 a week or 8 -10kwh a day electric on 32.8p per kWh

Gas is 7700 a year
last year around £450 on pre pay as you go

This year it will be around £650 -£700 if I use the same