When moving into a new property or switching energy suppliers, it is important to understand how prepayment meters work and how to manage your energy supply to avoid running out of credit. In this article, we will explain the key points you need to know about prepayment meters and switching suppliers.
What is a Prepayment Meter?
A prepayment meter is a type of energy meter that allows you to pay for your energy in advance. You can buy credit for your meter by topping it up at a shop or online, and the energy supplier deducts the cost of the energy you use from the credit on your meter. This means that you have more control over your energy consumption and can avoid unexpected bills.
However, prepayment meters often come with higher energy rates than other payment options, and you may have to pay more for your energy than customers on other tariffs. It’s also important to keep your meter topped up to avoid running out of credit and losing your energy supply.
How do Prepayment Meters Work?
Prepayment meters work by allowing you to pay for your energy in advance. When you top up your meter, the energy supplier adds the credit to your account, and you can start using the energy. The meter deducts the cost of the energy you use from the credit on your meter, and when the credit runs low, you need to top up your meter to keep your energy supply running.
You can top up your meter at a shop or online, and some energy suppliers offer mobile apps that allow you to top up your meter remotely. It’s important to keep your meter topped up to avoid running out of credit and losing your energy supply. If you run out of credit, you can use emergency credit to keep your supply running, but you’ll need to pay it back with your next top-up.
What to Do if You’re on a Prepayment Meter?
If you’re on a prepayment meter, there are some things you can do to help you stay on supply:
- Keep your meter topped up to avoid running out of credit.
- Check your meter regularly to see how much credit you have left.
- Switch to a prepayment tariff that offers better rates and discounts.
- Consider getting a smart meter, which can help you track your energy consumption and manage your credit.
- Register for the Priority Services Register if you have a disability or illness that affects your ability to manage your energy supply.
- If you’re going on holiday, make sure you top up your meter before you leave so that you don’t run out of credit while you’re away.
Switching Prepayment Meters When You Move Home
If you’re moving home, you may need to switch your prepayment meter to a new supplier or move your meter to a new location. Here’s what you need to know:
- If you owe your current energy supplier any outstanding debt, you’ll need to pay it back before you can switch supplier.
- You’ll need to register with your new supplier and set up an online account to manage your payments and top-ups.
- If you’re eligible, you can apply for the Warm Home Discount scheme to get up to £500 off your energy bill.
- You can switch supplier even if you have outstanding debt, but you’ll need to pay it back in monthly instalments.
- If you’re a tenant, you’ll need your landlord’s permission to switch supplier or move your meter.
- If you’re a landlord, you’re responsible for paying the energy bills and managing the energy supply for your rental property.
It’s important to remember that if you’re on a prepayment meter, you may need to top up your meter more frequently than if you were on a monthly
Looking to switch from a prepayment meter to a credit meter?
If you’re using a prepayment meter for your energy supply, you may be interested in switching to a credit meter. A credit meter is a traditional meter that records your energy consumption and allows you to pay for it later, typically through monthly direct debit payments or manual payments through a bill. Prepayment meters, on the other hand, require you to pay upfront for the energy you use.
Switching from a prepayment meter to a credit meter can offer several benefits, such as greater flexibility in managing your energy use, more payment options, and the potential for cheaper energy rates. However, there are some important things to consider before making the switch.
Firstly, you should check with your current energy supplier to see if you’re eligible to switch to a credit meter. Some suppliers may require you to have a good credit score or may charge a fee for switching meters. Additionally, if you owe money on your prepayment meter, your supplier may require you to pay off any outstanding debt before switching to a credit meter.
If you’re eligible to switch, your supplier will typically arrange for an engineer to come and install a credit meter at your property. The process can take several weeks to complete, and you may be without power or gas for a short period while the engineer works on the installation.
Once your credit meter is installed, you’ll typically receive monthly bills based on the energy you’ve used. You can pay your bills through a variety of methods, such as direct debit, manual payments, or online payments.
It’s worth noting that switching to a credit meter may not be the best option for everyone. If you prefer to have greater control over your energy usage, a prepayment meter may be a better fit for your needs. Additionally, if you have a history of missed payments or outstanding debt, your supplier may be hesitant to switch you to a credit meter.