To stick with a prepay meter?

[LovingLife0]

Even though I’ve been living in my current house for five years, we’ve never got around to changing our pay as you go meters (gas and electricity) to a direct debit smart meter.

We currently pay 100-150 for gas and electricity combined for a 3-bed house (2 adults, 2 children). Compared to some of the rates other people are saying they’re currently paying on direct debit, this seems on the lower end.

AIBU to keep my prepay meter or will I regret it in April when prices hike?

I'm absolutely sticking with prepay. I don't want a direct debit and them being able to say aw we are upping it to 350 a month or whatever or getting in debt or getting a massive bill. I load up my gas during summer so I'm sitting with a credit already for winter.

Only stick with it if you're certain you can afford to keep it topped up.
If you end up with a bill you can't afford, you will have at least retained your supply, and will be one amongst many who can't pay the bill.
I wouldn't be surprised to see debt write offs on the horizon for 'can't pay' customers as recovery costs will go through the roof.

Luckily I can afford to keep mine topped up it would have to significantly increase way beyond what they have said it will for me to not be able to so unlikely but not impossible eh

however I realise for many this isn’t the case but still not sure what the right thing to do would be as either way you owe the money . However as you say at least the supply will stay on and there will be many in the same position so perhaps something would be done ?

If people can't pay, they can't pay. Its not great to have a debt, but debt can be managed and is far preferable to sitting in the dark and cold.

I’m on pre pay smart meter
I just had it installed today from EDF

I pay 29.4p per Kwh
compared to 28p per kwh

It’s not that much different in price In Oct either

I can afford the rises and prefer to pay as I go
I keep £100 on each meter and top it up each week

when It was the April rise it went up by a few pounds

and if you have a debt they will eventually put you on pre pay especially if you have a smart meter and you will be paying back the debt as soon as you top up

I think the sheer numbers of people in debt will make it difficult to go round forcing and fitting pre pay meters for everyone.
The guidance says they're an option of last resort for debt so can also be challenged.
I think when the scale of debt hits, there could well be a rescue package. If you've already 'afforded' it by sitting in the dark when you can't top up your meter, you won't benefit from that. I'm not against pre pay, I think there's sound reasons why they make sense for some. Just not for those for they might result in a real and immediate choice between eating and heating.

@5128gap

If you already have a smart meter they don’t have to visit you
smart meters can be changed to a pre pay meter by the electric company at their end
they don’t need to physically install a new meter
it’s only if you have an old style pre pay meter they would need to physically install a new smart meter

Thats true. But they still need to offer you other ways to pay first, like payment plans or deductions from benefits, and can't force it on you if you're vulnerable due to illness or disability, so it's not a straightforward process if the customer objects.

Keeping mine. Non smart, will just load it up to max again. Remember you can only load so much! I think it was 249 on electric total so consider what you have left.

Like fuck will I be moving to DD and fixing at the kwh prices they show now. The cap is way less even in October. Whatever I save will cover January increase.

This is 100% true.
we topped up £200 onto the electricity meter
before the increase at the end of March and then but another £200 onto the top up card,
so we are still on the pre April rise rates and will be for a good while yet as our usage is really low.

@Bubblebubblebah

The CAP is literally the highest pKw price they're allowed to charge, that's the whole point of the cap! Therefore you won't & will not see prices pKw higher than the CAP

The cap doesn't apply to DD fixes, hence why people are offered 68p kwh.

Going over to them as splitting husband hopeless with money so this is safer no nasty debts to stack up, I’ll get him budgeting fortnightly or weekly. At least I know he’ll manage this better.

Does anyone know what date in October the prices will rise? I put £100 on each meter in March and it lasted for ages so might find a way to do that again.

I rang my provider (octo) and they were quite happy to change me over to a smart meter, no credit or affordability checks etc) they sent me a link to book but I was apprehensive and the spaces have gone now (until more are released next week)

AIBU to keep my prepay meter or will I regret it in April when prices hike?

I can’t understand any logical reason as to why you would chose to pay more per unit.

@TooMuchToDoTooLittleInclination The CAP is literally the highest pKw price they're allowed to charge, that's the whole point of the cap! Therefore you won't & will not see prices pKw higher than the CAP

This literally isn’t true though. Do a bit of reading before giving out terrible and false advice.

First I believe.

I just checked our meter unit costs after post from Bees Knee. We thought we fudged it and the credit had to be IN the meter, not just on the key so we thought we lost the original price. I checked properly now and we are still on pre-april prices! We were on 21p so thought the small increase of like £3 a month was that move from 21 to 29p and the change in SC and us just using less. I did really wonder that it is low! Turns out that's cost of my wfh equipment I guess.
Now I feel like proper dummy!
Wwll you live and learn!

Now talking bulk top ups.
Anyone knwos anything about how the vouchers will work? As far as I understand we on not smart meters will get the £400 in monthly vouchers. Has anyones energy company released info such as how long will they be valid for?

Found it
www.moneysavingexpert.com/news/2022/08/how-energy-suppliers-will-pay-the-p400-cost-of-living-support-pa/

Vouchers then, which means tipping up a large amount before October may not work (unless the expiry on the vouchers is a long date)

Looks like it just might! Happy to see.
So far our plan is to top up enough on keys to last a whiiiile and then get the Oct and Nov vouchers reissued in February, top up all of them before April rise. I need to check numbers on it, but it should work with our usage.

"ensure your supplier has up-to-date contact details for you as your money will be sent as six separate vouchers via text, email or post – which you'll need to redeem by topping up as normal in a shop or post office. you'll have three months to redeem each voucher – and if you lose them or they expire, they can only be reissued up until 31 march 2023"

I'm with eon, I have a prepayment smart meter and have just checked the tariffs. I pay a higher standard charge than if I was on dd but my unit rate is actually slightly cheaper. A lot of customers who are now cancelling their dd in order to pay on receipt of bill will be paying higher prices than for prepayment (standing charge and unit charge).

Screenshot.

Yup and lots of people will soon find out after listening to some who had no idea and just shouted something on SM, unfortunately.

I am now glad I am petty bastard who still has the old dumb meter after argument with EDF.

You contradict yourself here #p- you say it’s not lower usage and then say you pay less because you ration use of eg washing machine.
price per unit will be more than those on DD pay. That’s just a fact.