Prepay electricity meters

Hopi watcher

Has any one who changed to prepay meter as advertised on TV by Prepaypower and Pinergy worked out yet that the cost of electicity, when all charges are included, is very much dearer, I reackon near to 20% more expensive, this is not explained when signing up. Has anyone got out of this without having to pay a disconnection charger. I have been told that I cannot switch back to a cheaper supplier unless I pay €75 penalty.

wmpdd3

its 37c extra per day!

i think its a 12 month contract but there is a cooling off period. though you my have to pay to get the machine removed.

Hopi watcher

That is €136 a year more expensive, that's a fortune to me right now, I was led to believe that it was no more expensive. I haven't got the money to pay to remove the meter, what do I do now, just continue to pay much more for my electric :mad:city.

emeldc

From memory they guarantee to match the standard rate from Electric Ireland (which is usually the dearest rate) plus 37c per day for the meter. It is more expensive but because you are watching your money disappear off the meter it might encourage you to turn off and unplug stuff that you dont need thus creating a small saving in the long run.

AngryLips

Prepay electricity is the dumbest idea I have ever heard of. Given that electricity is such a basic need I don't understand why anyone would want to pay for it on a prepaid basis as if they're willing to live without it should they be low on cash. You'd sooner run out of milk than run out of electricity and it doesn't surprise me that they charge rip-off rates because the whole proposition seems suspect from the offset.

Hopi watcher

Thanks emeldc, but I was always very careful with my electricity. I'm studying and living on a combination of air, hand-me-downs ad the good will of me Ma. I would never have switched if I'd known that Prepaypower is so much dearer and now I am told that I am stuck with them for a year. Hands up, it was my mistake but should the ads not be clear about the fact that this is the most expensive way to buy electricity. For the mext year I will get far less electricity for my money. Seems like a rip-off right now.

foggy_lad

Hopi watcher wrote: »

Thanks emeldc, but I was always very careful with my electricity. I'm studying and living on a combination of air, hand-me-downs ad the good will of me Ma. I would never have switched if I'd known that Prepaypower is so much dearer and now I am told that I am stuck with them for a year. Hands up, it was my mistake but should the ads not be clear about the fact that this is the most expensive way to buy electricity. For the mext year I will get far less electricity for my money. Seems like a rip-off right now.

tell them you want it removed because you were mis-sold it and told it would be cheaper than it actually is.

Hopi watcher

Thanks, will try.

homer911

Hopi watcher wrote: »

Hands up, it was my mistake but should the ads not be clear about the fact that this is the most expensive way to buy electricity.

I could just picture the ads...

"Buy your electricity from us..

Pay in advance rather than on credit..

Pay more for your electricity from us than from anyone else..."

Not!

These meters are for people who dont want to run up bills and who arent sure they would be able to pay the bill at the end of the two months..

Hopi watcher

Are you saying that companies should not tell the truth about what they are selling? Their ads try very hard to suggest that they are not any more expensive than other suppliers when in fact they are considerably dearer. I was told that Prepaypower charge the same as the supplier I was with and when they said that they charged for the meter they quickly said "so does everyone else". My point is that if they made it clear up front that they are more expensive, and indicate by how much, very few people would sign up for the simple reason people are looking for an easier way to pay for electricity and there is no way that paying more could help.
I am rather surprised that you find nothing wrong with charging people with money problems more for their electricity.

recyclops

the interesting thing about all this is if you actually ask your electicity supplier can you have a pre paid meter they will get it installed for you and potentially on a lower or discounted rate than your on as a bill pay customer, i know this is true with airtricity as my sister has one.

The three main companies use them as a way to recover debt so have to offer the rate as competitive to make it more appealable to the customer in financial difficulties. They used to make you jump through hoops but now realise it is easier for them as well

Heisenberg1

If you get your pre paid meter installed by say Bord gais for electricity there is no

diffrence in tarriff compared to a DD customer. The likes of PPP and others charge

more per unit than ESB and bord gais. Use this site to compare energy prices. http://www.bonkers.ie/

foggy_lad

Heisenberg1 wrote: »

If you get your pre paid meter installed by say Bord gais for electricity there is no

diffrence in tarriff compared to a DD customer. The likes of PPP and others charge

more per unit than ESB and bord gais. Use this site to compare energy prices. http://www.bonkers.ie/

Prepay-power charge about €13/month for the meter on top of the standard electricity tariff.

McLoughlin

The ESb has a payment card I pt 20 quid a week onto it and it goes striaght onto my next bill paid this way for years never in debit allways in credit great system tather better than this prepay meter as advertised on TV

kirving

I know it's easier said than done but using a pre-paid meter to try and force yourself to use less electricity is a bad way to do it, you're immediately on the back foot with the daily charge. You've just got to take a very serious approach to using only what you need and stick with it.

foggy_lad

McLoughlin wrote: »

The ESb has a payment card I pt 20 quid a week onto it and it goes striaght onto my next bill paid this way for years never in debit allways in credit great system tather better than this prepay meter as advertised on TV

It used to be the Easi-pay book, you could pay as much as you could afford each week in the post office or bank but the miserable banks used to charge for the Giro.

FatBeard

foggy_lad wrote: »

Prepay-power charge about €13/month for the meter on top of the standard electricity tariff.

Are you referring to the 42c charge you get charged every day on the meter? If so this is your standing charge. Which is exactly the same for bill pay customers too, but you simply pay it bi monthly on your bill instead of daily for prepay.

foggy_lad

FatBeard wrote: »

Are you referring to the 42c charge you get charged every day on the meter? If so this is your standing charge. Which is exactly the same for bill pay customers too, but you simply pay it bi monthly on your bill instead of daily for prepay.

NO, There is extra charges of about €13 per month for rental and use of the meter.

It is listed in their pricing structure as "prepayment service charge". It is 38cent daily on top of your normal bill(including standing charges & PSO levy). THe charge is actually higher than the standing charge which is 35cent daily.

http://prepaypower.ie/pricing


They also appear in Google searches as, and have as their front page header "Electricity Ireland ¦Prepaid Electricity Ireland ¦Prepay Power" which is grossly misleading as many will make the mistake of thinking that they are part of Electric Ireland/ESB and sign up thinking it is a subsidiary of the main supplier in the state.

marlie2005

There is an extra charge for the meters, and I have to say it only suit a certain type of customer... I for one changed throughout the year knowing of the extra charges but im very happy about the way I can budget on a day to day basis rather than expecting a big bill every month... it works for me even though it may be dearer by 13 euros a month !!!

foggy_lad

marlie2005 wrote: »

There is an extra charge for the meters, and I have to say it only suit a certain type of customer... I for one changed throughout the year knowing of the extra charges but im very happy about the way I can budget on a day to day basis rather than expecting a big bill every month... it works for me even though it may be dearer by 13 euros a month !!!

Most people who are being targeted for these meters can't afford €13/month.

wmpdd3

twice I've had a lady at my door to sell this meter, each time there was no mention of:

SCHEDULE OF CHARGES
Schedule of Charges
Meter Replacement charge €135
Keypad Replacement charge €50
Customer Card Replacement Charge €10
Call out fee €50
Out of hours - weekday €90
Out of hours -- weekend €130
Early Termination of contract = Meter removal fee + number of months remaining on the
contract x €10
Meter removal Fee €50
Number of months remaining on the contract x €10
Paper Statement Fee €5

foggy_lad

wmpdd3 wrote: »

twice I've had a lady at my door to sell this meter, each time there was no mention of:

So if it breaks down at the coldest weekend of the year it will cost €130 for the call out and possibly a further €135+€50 for replacement. I assume this will go on the meter as arrears

5.4 At the time of entering into this Contract, you shall provide us with your up-to-date email address, and we shall use this email address to send you an annual electronic statement which will identify the Charges and any Pass Through Charges payable by you and the payments that have been made by you since our previous statement (if any). This statement will reconcile payments made by you with your Usage, and any other Charges and Pass Through Charges levied as defined in our current Schedule of Charges. If this reconciliation shows that any amount payable is outstanding, you will be liable for such outstanding amount. Payment of any outstanding amount may be made by credit or debit card. At our discretion an outstanding amount may also be paid at an agreed rate from subsequent Top Ups as “Prior Charges”. Should the reconciliation process show an overpayment (after the credit balance on the meter has been excluded), we will remit the amount of the overcharge back to you in the form of credit on your account or by postal order or by cheque.

5.6 If the Charges or any Pass Through Charges are not discharged in full within a reasonable period of time by deducting from Top Ups or other payment options, you may be liable for interest at the rate of 4% per annum above the current EURIBOR (Euro Interbank Offered Rate) on outstanding amounts. In addition, you agree, on our request, to discharge all costs incurred by us in seeking to recover any outstanding amounts from you.

FatBeard

foggy_lad wrote: »

NO, There is extra charges of about €13 per month for rental and use of the meter.

It is listed in their pricing structure as "prepayment service charge". It is 38cent daily on top of your normal bill(including standing charges & PSO levy). THe charge is actually higher than the standing charge which is 35cent daily.

http://prepaypower.ie/pricing


They also appear in Google searches as, and have as their front page header "Electricity Ireland ¦Prepaid Electricity Ireland ¦Prepay Power" which is grossly misleading as many will make the mistake of thinking that they are part of Electric Ireland/ESB and sign up thinking it is a subsidiary of the main supplier in the state.

Ah fair enough, i'm with airtricity, they supplied the meter and i'm not liable for that charge. I pay (i'd have to look at the meter again to confirm) but .392c a day standing charge. Thats the figure i get from pushing number 7 on the meter which is supposed to include the PSO and VAT and whatever meter rental there is.

wmpdd3

Yes as long as the meter was issued to recover arrears there is no 'meter charge' just standing charge and PSO.

@ Foggy Lad, that quote is very worrying, that makes prepay power charging an interest rate on charges associated with a utility, time to ask the regulator for answers.

foggy_lad

FatBeard wrote: »

Ah fair enough, i'm with airtricity, they supplied the meter and i'm not liable for that charge. I pay (i'd have to look at the meter again to confirm) but .392c a day standing charge. Thats the figure i get from pushing number 7 on the meter which is supposed to include the PSO and VAT and whatever meter rental there is.

If the ESB or Bord Gais or your local authority(many council houses have them) supply and fit the meter you will only be charged the normal rates for electricity and the standing charges.

More Music

So what, you don't get a bill through the letter box. You pay well over the odds for that privilege and have not saved any money in the process.

Do people expect prepaypower.ie to come out, supply and install the meter for nothing. And handle all the administration for nothing. Would you not think, hang on a minute, what's the catch here, how are they going to make money from this?

Well, the the catch is a 37.5 cent per day meter charge on top off all the standard Electrity Ireland charges.

You'll be doing an awful lot of unplugging just to make up the €140 extra prepay charge. Why not just unplug stuff while still on bill pay? You'll save a few euro straight away and not be on the back foot.

If the argument is "I can't afford to pay a large bill in one go but can afford to top up small amounts on regular basis", then take the top up money and every week put it into a jar in the press instead. Then open it when it comes to bill time. A less technical solution, but cheaper and it works. My dad has been doing that for 30 years and pays the bill the day it arrives in the post.

Look at your kid(s) and think of a dark, cold house in the winter before you say I couldn't be arsed or it won't work.

ScouseMouse

Are you aware you can cushion yourself from bill shock by building up you bill over the month, just like you can prepay with a card.

I keep a bill in my van and throw money off it every week or two. I keep using the same bill which has a barcode and when the next bill comes out, I can see all my payments and end up with feck all to pay.

I can even be over some months. I am currently throwing a bit extra into the gas bill to build it up for the inevitable extra usage for the winter.

This crack of prepay meters is a load of rubbish, although if you can see your balance ticking down to zero in front of your eyes, it will prompt you to go and make sure everything is unplugged and lights are switched off.

Fred Swanson

This post has been deleted.

ytpe2r5bxkn0c1

If cost is a factor at all then forget prepaid. Otherwise it has some advantages. To each their own.

Cabaal

Fred Swanson wrote: »

This post has been deleted.

This isn't about haters hating,
This is about sound economic sense, you are paying out more on a daily basis with these additional charges.

Spend 50e once off on a electricity monitor and it'll do you more good, you can see usage and turn stuff off accordingly to save money overall throughout the year,

sparksfly

Cabaal wrote: »

This isn't about haters hating,
This is about sound economic sense, you are paying out more on a daily basis with these additional charges.

Spend 50e once off on a electricity monitor and it'll do you more good, you can see usage and turn stuff off accordingly to save money overall throughout the year,

Energy monitor is the way to go.
I have this one and it has shaved average of 40euro off my bill.
I bought it in Tesco for around 35 euro.

http://theowlireland.com/owl-cm180-micro-energy-monitor