Hi Angie8m,
Just as background for you, we are currently in a big fight with Scottish Power over the same thing. Back in 2008, our tenant was unable to pay their bill and Scottish Power entered our property (as is their right) and installed pre-payment meters (as they claim is also their right). When the tenant moved out, we were stuck with the pre-payment meters.
These meters are not only a hassle, but uSwitch.com suggests to me that the prices that will be charged for both electricity and gas are higher than standard, even when the meters are not set up to pay off any arrears.
Worse still, if we want the meters changed back to standard meters, we not only need to pay Scottish Power to do this (though they install pre-payment meters FOC, of course, because they make more money from customers afterwards) at a cost of £43.99 and £63.99 for electricity and gas meters respectively, but we have been told that we would ALSO need to (a) pay £150 "security deposit" which Scottish Power will retain in case of any future default on a bill, and (b) act as "guarataur" (with unlimited liability) by being "party to the account" for any future tenant's utility bills.
They tell me that the industry regulator has approved all of their policies, and I am therefore now in contact with the regulator, Ofgem, becuase I find it astonishing that they have been given the right BOTH to change the meters TO pre-payment without my consent, and without any change, to INCREASE the prices on those meters, AND to levy so many charges and conditions when I want to have the meters changed back, so that they protect their profits. Effectively, they are saying that they have the right to take an action without consulting me, which then changes MY future relationship with my utilities provider.
I should clarify that these charges all apply even if I choose to move back into the property myself - I will now be treated as a "high risk" because I have paid them to undo a change they made without my consent. Yet if my tenant had not allowed Scottish Power to change the meters, I would not be required to provide any security deposit, and would not be required to be party to a tenant's account.
I find this an astonishing abuse of power by Scottish Power. I will let you know the outcome of my communication with the regulator.
Suffice to say, if you can avoid having pre-payment meters installed, that's definitely desirable. In our cases though, and with the current legislation, I am not sure if we have any real option?
Phil