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Best Practices on Switching with Prepayment Meter

Prepayment meter is defined as pay as you go, means you have to pay in advance instead of monthly and quarterly payment. Basically, it is a domestic type meter. Around 6 million payment is installed in household across UK. Customer uses smartcard, token or some kind of key to do payment via smartphone app or shop.

From last year, 30% of UK citizens switch energy supplier with the purpose of saving money. So, if you have prepayment meter then what will you do?

Positively, you can switch energy provider if you have prepayment meter. Still, there is exception that if you’d like to switch to one of the most competitive online energy tariff, you have to change your prepayment meter to a credit meter.

Steps to replace prepayment meter from credit meter –

First of all, you need to contact your existing current supplier and ask them the whole process. Then, they will inform whether you are eligible or not for a credit meter. After that, if you are, an engineer will come at your home in order to perform changes. This process will take time and certain amount may be charged, generally around £60. You need not to worry about the fee charged by them, because soon you will save by switching energy suppliers. If you would do comparison between cheapest credit tariff & cheapest prepayment tariff, you’ll have to pay around £290 more per year with prepayment meter. In some cases, suppliers may replaces prepayment meter with credit meter free of cost, if you agree to switch them. But, if you will go for it, you may not get best tariff.

What should I do when I can’t change prepayment meter?

Along with prepayment meter, you can still switch energy suppliers. It’s not bad the option to see how much money you can save.

#switching #Electricity bills #gasbills #prepayment meter #energy comparison