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Get the best Energy prices for credit meters or pre paid tariffs

The best energy prices for credit meters or pre paid tariffs
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Some of the largest monthly costs for any household are related to utility bills. The price of gas and electricity seems to always be increasing and this can put a huge strain on family finances. If you haven’t switched before or have been on your current tariff for a while, comparing prices and moving supplier could help you save money.

The different types of meters

There are two options when it comes to paying for your utility usage: either a credit or pre-payment meter. A credit meter is the standard form that is used by the majority of households. This means your meter keeps track of your usage and you pay once you’ve received the bill. A pre-payment meter enables households to pay in advance for their energy and top-up using a card or key.

Comparing tariffs

The easiest method to compare energy prices is to use a price comparison site. There is not a single cheap tariff for everyone, as the choices and rates available will depend on how much energy you use and where you live. These sites don’t always show you all the available tariffs, so it’s worthwhile using a number of different sites and also looking direct with the suppliers. The extra effort will pay off when you save money.

Consumers often presume that buying both gas and electricity from the same supplier is the cheapest approach. This isn’t always the case, so it’s worth seeing how much the individual services would cost as well.

Switch at the right time

The time of year you switch suppliers could help you save even more money. If you do so just before any price rises, you’ll be able to get a good fixed rate deal. However, if you wait until all the suppliers have completed their increases, the range available will be more limited and offer higher rates.

The best energy prices for credit meters or pre paid tariffs

Who can switch?

There are not generally any restrictions on which households can switch supplier. In the case of tenants, as long as you have direct responsibility for paying the bills then you should be able to move to a different provider. You should check the details of your tenancy agreement first, but if there are any restrictions and you do pay the bills, the Ofgem rules state that you’re within your rights to switch. If you do move supplier, you will probably have to inform your landlord of the change.

Changing on a credit meter

Credit meters will provide you with the widest choice of available energy tariffs. These savings can be even bigger if you use the online switching services and choose to pay by direct debit. Energy suppliers are constantly competing for new customers and can offer some fantastic savings over the course of the year.

You will have the choice of either a fixed or a variable tariff. Both of these offer their own advantages and disadvantages, which will largely depend on your individual circumstances. With a fixed deal you’ll know exactly what you’re paying each month and are protected from any price rises during the promotional period. However, by choosing a variable tariff you’ll be able to take advantage of any price cuts.

If you have a credit meter, you should ensure you set up a direct debit to take advantage of bigger savings. This could reduce the amount you pay by as much as £90 a year and means there’s no need to worry about forgetting to pay.

Switching with a pre-payment meter

These types of meters are beneficial for those on a low or limited income, as they enable you to budget over the month. They also prevent you from running up large debts and using more energy than you can afford. However, users of these meters are often penalised by being put on a higher tariff than standard direct debit customers. Luckily, there are now more options available to pre-payment customers to enable them to save money.

Many customers on pre-payment meters don’t realise that they’re also entitled to switch supplier. There is now much greater competition in this sector, though the deals are not as good as for those on standard accounts. Even if you’re currently paying off a debt, you could still be eligible to switch. Those households with a debt of under £500 per fuel can move supplier and the debt will transfer as well.

However you choose to pay for your energy, switching enables you to get the best deal for your property. It can take just minutes to switch and will start saving you money as soon as the changeover is complete.

 

 

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About Catherine Stern

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About Catherine Stern

Catherine Stern is a freelance writer with a background in marketing and PR. She currently writes web content on a range of subjects, from finance and business to travel and home improvements. As a working single mum of two young boys she understands the pressures that today’s working parents face and the topics they want to read about.

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