Prepayment or ‘pay-as-you-go’ meters are a type of gas and electricity meter that require you to pay for your energy before you use it. This is different to a credit meter where you pay for your energy after you use it.
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Around four million households across the UK are on prepayment meters, according to the energy regulator Ofgem. Here’s what you need know about them.
Much like pay-as-you-go mobile phones, prepayment energy meters must be topped up with credit in advance. The method of top-up can vary depending on the energy supplier and meter, but it will usually be a token, key or smartcard.
Top-ups can be made at your local Post Office or any shop where you see the PayPoint or Payzone logo, such as newsagents, local corner shops, garages and supermarkets.
Some older prepayment meters are coin operated, where you put money directly into the meter, although they are now quite rare.
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Smart meters are the new generation of gas and electricity meters. They allow you to view how much energy you’re using at home in real time in pounds and pence, with the aim of helping you to cut down on energy usage and save money.
All households in England, Scotland and Wales must be offered a smart energy meter by the end of 2025. This includes smart prepayment meters. Your energy supplier will tell you when you can get one, but you can also request one yourself.
Smart prepayment meters mean you can top up online or via an app on your mobile phone or tablet, without the need to leave the house. If you set up an online account, you will also be notified when you’re about to run out of credit.
If you can’t afford to top up your meter or you can’t get to an outlet to buy credit, most prepayment meters have emergency credit you can use. This is typically around £5 for electricity and £10 for gas.
Note that prepayment tariffs have a standing charge of around 25p to 30p a day that must be paid regardless of whether you use any gas or electricity. You’ll need enough credit to account for this.
Your property may have already had a prepayment meter fitted when you moved in, or you may have asked your supplier to fit one to make it easier to budget. If you are renting, your landlord might have opted to have a prepayment meter fitted to ensure tenants do not leave behind unpaid bills.
Your energy supplier may choose to fit one if you have fallen into debt on your energy bills. Prepayment meters can help households repay outstanding debts in small amounts, rather than in one lump sum. If you top up your meter with £25, for example, £5 of this might go towards the existing debt and the remaining £20 towards new energy.
Your choice of tariff will be more limited if you have a prepayment meter, but it’s still worth shopping around to see whether you could save money by switching.
Thanks to the Debt Assignment Protocol, you’ll still be able to switch if you’re in debt to your supplier, providing you don’t owe more than £500 for your gas and £500 for your electricity. Your debt will be transferred to your new supplier, and you’ll repay them instead based on the new terms of your agreement.
The switching process is the same as it is with a credit meter. Once you’ve run a comparison and found a new prepayment tariff to move to, your new supplier will take care of the switch. The switch should take around 21 days to be completed.
Prepayment meters can be useful as they help with budgeting. Also, as of 1 July 2023, the price differential between prepayment meters and standard credit meters no longer applies. Prior to this date, prepay customers were charged more than direct debit customers, ostensibly to account for greater infrastructure costs, but the government decreed that the two types of meter should have the same charging structure in the spring of 2023.
However, if you would prefer a credit meter, most energy suppliers will allow you to switch, providing you meet certain conditions. You’ll usually need to pay any outstanding debt on your account, for example, and you may need to pass a simple credit check.
Many suppliers will install a new meter for free, but others may charge, so check first. If you’re renting, you’ll need to get your landlord’s permission to switch meters.
If you’re moving out of your home, aim to run the balance left on the prepayment meter as close to zero as possible. Contact your energy supplier in advance with your new address so that any remaining credit can be refunded. Or a repayment plan can be set up if you are in debt.
May 10, 2021
Prepaid electricity allows customers instant management and control of their electricity consumption and spending. The real life data allows customers to see exactly how much electricity their using and what it really cost.
Read our guide to discover if a prepaid meter is right for you.
Switching from your current electricity provider is simple and not as complicated as you may think. We ensure it hassle free by handling all aspects of the switch-over on our end. We contact your existing supplier about the change.
There is no cost involved in setting up the prepaid meter. The installation of the meter is free and on average takes an hour to install in your home. Our free friendly credit hours ensure you never be cut off in the evenings or weekends. We pride ourselves in ensuring our clients have electricity in their home during the peak times. Simply top up at your early convenience and the electricity used during these times will be deducted from your next top up.
There is a variety of ways to top up your electricity. Credit can be purchased online, on our website, via our app, the phone or at any payzone. To avail of topping up at the shop, you will need to bring your customer card with you.
Our new Smart Pay app is available on Android or iPhone and allows customers the option to keep track of their electricity on their phone or tablet. The app was designed to benefit our customers who are busy by keeping up to date at all times. The app comes with an ‘Auto Top-Up’ option. You simply choose a minimum balance, and once your meter reaches that amount you will be automatically topped up.
You have complete control over your electricity usage and energy costs. As well as information on energy consumption being displayed in real time, you can view how much energy you’ve used and which appliances are using the most electricity. This information is completely transparent meaning you can alter your electricity usage based on the numbers you see before you.
Prepaid electricity allows you to see in real time exactly how much energy you’ve consumed. The information is up-to-date and allows you to see when the cheapest times of the day are to use electricity and which appliance is costing you the most.
Having access to this information may make you think twice about running the washing machine during the most expensive time of the day or boiling the kettle every half hour, all helping you to save money on your electricity.
The data provided by our meters will allow your household to become energy efficient and also the environment by reducing your carbon footprint.
Your PrepayPower keypad is super smart and gives you complete transparency on your energy costs, meaning you’re in total control.
If you are a current PrepayPower customer and wish to get more clarity into how you can monitor your usage, take a look at these buttons on your keypad:
If you’re interested in switching to PrepayPower today, why not give our sales team a call on 1800 989 517. Check also 10 most frequent questions from our customers.
The company is the world’s best prepaid energy meter supplier. We are your one-stop shop for all needs. Our staff are highly-specialized and will help you find the product you need.