The prepaid meter is very popular in the UK. Statistics have shown that there are over 6 million households in the country who are using the method. Why is this so? Do they work differently from a regular meter?
What is a prepaid electric Meter?
A prepaid electric meter is a payment method wherein you pay for your electrical consumption directly. This can be useful for power-hungry appliances. It has a similar concept of having prepaid mobile phones. First, you top up your account and then the next thing you do is to use that credit for your electricity. There are various ways in order to load your credit balance. You may use a smart card, a token or a key. You can find the top up stations at any post office, Paypoint ot Payzone or any other shops at the corner. Your energy supplier would give you a specific list on the available and registered stations where you can top-up your credits. It is a very good idea to take note their opening hours in case you need to charge your meter in a hurry. There are also these rare types of prepaid electric meters that enables you to put money directly into the meter itself; this will allow you to run the electricity again without going to any payment stations. Also the coin operated meter is a great option when picking meters.
It works quite differently from a regular electric meter because the regular ones enables you to pay quarterly bill or monthly direct debit. In the case of the prepaid electric meters, electricity run once you have the credits. Meaning to say, if you do not have the load, then, you will have no energy supply in your home.
What are the advantages of prepaid electric meters?
- This is the most convenient way of paying your electricity consumption. Plus, you do not have to wait for the bills by quarter or per month. You just have to remind yourself that if you do not have the credits, then you will not have electricity. It is also hassle-free because you can just top up your credit balance to any registered payment shops and centers.
- This prepayment method gives the opportunities to have easy access of power supply when the people who are indebted to an energy supplier fails to pay.
- Prepaid electricity method is also a good way to avoid rental frauds or tenant default. If you own a rental house property, then you do not want to take the risk of paying the electricity bills for your tenants, then you have to install these in your respective properties.
- It makes you budget your electricity bills. This means that you can save from this type of method. A good example to this is when you go on a holiday. You do not have to top up credit when you are away.
If you happen to run out of credit, you could still have an allotted emergency reserve. However, this would not last long. Which is why you need to take note the credits left in your electricity meter so that you will not experience power interruption and inconvenience. These emergency reserves are charged to your next top-up.