Eon have announced their latest price rise which will come into effect from April 2018. As OFGEM has relaxed the prepayment protection this could see some prepayment plans increasing by nearly 10%. If you are still with one of the Big 6 suppliers there is the potential to save a huge amount of money with one of the smaller independent suppliers.
Thanks to OFGEM, from the 1st April 2017 the rates a supplier can charge a domestic prepayment customer will be subject to price caps which will be reviewed every six months. It is hoped that this will protect consumers who choose to pay this way from extortionate differences between prepayment and credit meters.
To see all UK suppliers who offer prepayment gas and prepayment electricity please click here
The Warm Home Discount has been running for many years and provides low income homes with a free one off discount of £140 of free electricity. For those who are on prepayment meters this is credited to the meter usually in the Winter months. Those who think they may qualify should apply to their energy supplier as in many cases it is not an automatic process. Please be aware that not all suppliers have to offer the discount and most of the newer suppliers do not provide this service.
The Debt Assignment Protocol (DAP) is the term that suppliers use to transfer debt between one another when a prepayment customer seeks to switch their supplier. Many suppliers can now offer to transfer debt up to £500 per meter which allows customers to get a better deal on their energy whilst still repaying any outstanding balances
The Sun has reported that Uswitch has been again been hiding the best deals from some energy consumers costing them up to £120 per year.
Labelling the site as “Dodgy”, the Sun also quoted MP Dan Poulter: “Two years ago uSwitch were caught hiding the cheapest deals and were told to put it right by MPs and energy regulator Ofgem. It’s an outrage they’re doing it again.”