Prepayment energy tariffs can be notoriously expensive compared to ‘credit’ tariffs, where people pay monthly or quarterly for the energy they’ve already used.
Teamed with the fact there is often little choice or access to deals, prepayment customers can find themselves paying relatively high amounts for their energy.
But this is changing.
MoneySuperMarket has negotiated with UK energy suppliers to bring greater savings within the reach of prepayment energy customers.
We’ve secured – exclusively – the cheapest prepayment deal on the market, with iSupplyEnergy.
In addition, we’re offering the cheapest prepayment tariff from one of the ‘Big Six’ providers, EDF Energy.
Here are the details of each deal:
iSupplyEnergy – cheapest prepayment tariff in the UK
iSupplyEnergy, a relative newcomer to the energy market, is shaking up the market with its iPrepay fixed tariff.
The average annual cost, for a household with typical usage, is £1,017. That’s a £120 saving compared to the average prepayment bill value (£1,137) of the Big Six firms (British Gas, EDF Energy, Eon, Npower, Scottish Power, SSE).
These are the key details relating to the tariff:
Tariff name: iPrepay Fixed 2017
Average cost: £1,017 over the year
Length of contract: 12 months
Exit fees: zero
Usage: The maximum amount of electricity iSupplyEnergy can supply is 30,000kWh per year*.
Terms and conditions: Available for key prepayments meters only. The tariff is not available in the Scottish Hydro region.
*This is almost 10 times the typical usage of an average household.
EDF Energy – cheapest prepayment tariff from a Big Six provider
EDF Energy is also launching a prepayment energy tariff, averaging £1,037, making it the cheapest tariff offered by a Big Six provider. Here’s what you need to know:
Tariff name: Blue+Fixed Prepay October 2017
Average cost: £1,037 over the year
Length of contract: 17 months
Exit fees: zero
Terms and conditions: Account has to be managed online
Why should I switch my energy tariff?
Switching your energy provider can be a quick and easy way to bring down the cost of your household bills. The Competitions and Markets Authority recently identified the lack of cheap deals available for prepayment customers.
While energy suppliers are slowly but surely bringing a greater variety of tariffs to the market, there’s nothing to stop you seeing if you could make a saving today.
Running a quote on our energy channel is a simple and effective way of comparing which tariffs are on the market, and importantly, which ones will reduce the amount you pay for your energy.
How to switch from a prepayment meter
Each energy provider has a different procedure on how to switch from one prepayment meter to another. Check out our guide here which details how to switch prepayment meters from each of the Big Six energy providers.
Please note: any rates or deals mentioned in this article were available at the time of writing. Click on a highlighted product and apply direct.