Prepaid Electricity -- Does Anyone Have It?

Discussion in Gas & Electricity started by LindaKay • Apr 21, 2013.

  1. LindaKay

    LindaKayActive Member

    Joined:
    Apr 15, 2013
    Threads:
    54
    Messages:
    464
    Likes Received:
    8
    I recently moved and switched electric companies. The company that I have now offered prepaid electric service with no deposit, so I took it. I thought I would hate it, but I actually really like it. Basically, I add a bit of money to my electric bill every time that I get paid. Then, I get daily text message alerts telling me how much electricity I used the day before and how much is left on my account. I think it is actually a really good way to cut back on my electric bill because I notice right away when my usage is higher than usual. Does anyone else have prepaid metering? Do you like the idea, or no?
     
  2. JessiFox

    JessiFoxActive Member

    Joined:
    Nov 29, 2012
    Threads:
    26
    Messages:
    939
    Likes Received:
    24
    No, I don't do that and I've always thought I wouldn't like it but the way you're describing it sounds like it could be an okay system. I definitely see how it would be more convinient for some people.
     
  3. rachel1970

    rachel1970Active Member

    Joined:
    Mar 31, 2012
    Threads:
    69
    Messages:
    184
    Likes Received:
    2
    In the UK there are some meters where people load up a card and then insert that into their meter. Once that credit has gone then they have to 'top up' the card again. It's useful as you can see exactly how much you are spending but this method is generally used by the poorest people in society who can't get a supply any other way, and the price per unit of electricity is much higher than if they were able to use other methods as they cannot get the opportunity to choose their own tarif.
     
  4. LindaKay

    LindaKayActive Member

    Joined:
    Apr 15, 2013
    Threads:
    54
    Messages:
    464
    Likes Received:
    8
    The price per unit is the same for me and other customers...although I'm certainly not rich, I'm not one of the "poorest people in society" either. It's actually a pretty good system for me. Not only does it help me save money, but it also helps me keep my home more eco-friendly.
     
  5. Parker

    ParkerWell-Known Member

    Joined:
    Mar 31, 2012
    Threads:
    38
    Messages:
    2,118
    Likes Received:
    59
    I have never heard of pre-paid electricity. It seems like a great idea that could be affordable for a lot of people. I can see how it would force people to use what they can afford.
     
  6. ACSAPA

    ACSAPAWell-Known Member

    Joined:
    Jul 10, 2012
    Threads:
    52
    Messages:
    3,093
    Likes Received:
    240
    I don't know, prepaid electricity sounds a little scary. I would be afraid that if I used the air conditioning too much one day and went over the limit, all my power would go out. I'd rather get a bill with a date to pay it on than have to be constantly monitoring my daily power usage. I have enough stuff to keep track of.
     
  7. dadcoupon2012

    dadcoupon2012New Member

    Joined:
    Apr 2, 2013
    Threads:
    4
    Messages:
    15
    Likes Received:
    0
    Our electricity company has a program that averages your electrical usage and then offers to have you pay the same amount through out the year so you can expect to pay the same amount monthly then and the end of a full year they do the average again and start the program over.

    The pros
    1. You all ways know what your are going to pay so there are no Budget buster surprises. I really like that!
    2. If your actual usage for the month was less than what you are paying you get a credit. So for example I pay $175.00 a month but only used $100.00 I get a $100.00 credit.
    The Con
    1. You pay more than your actual usage as in #2 above when you should pay less if you were not on the program.

    I find the pros more valuable then the con. I had some months years past were the summer heat a/c usage killed my budget. I had bills for $298, $324, $365. for june july and august and I was on termination notices the rest of the year constantly making payment arrangements.
     
  8. rachel1970

    rachel1970Active Member

    Joined:
    Mar 31, 2012
    Threads:
    69
    Messages:
    184
    Likes Received:
    2
    Things must work differently in the US. In the UK, those who have to take prepaid meters are generally people with poor credit history for whatever reason, and if they are working are low-paid. The companies penalise them for this and charge them more for their electricity than the good deals that are afforded those who have the option to pay by direct-debit each month or by a quarterly bill.
     
  9. Thomas1117

    Thomas1117New Member

    Joined:
    May 3, 2013
    Threads:
    1
    Messages:
    11
    Likes Received:
    0
    I wish I did. A lot of apartments have prepaid electricity. Unfortunately mine didn't and I was lashed with a whopping fine at the end of each month. I bet it would be great though, if there were no crazy limitations.
     
  10. Tribie

    TribieMember

    Joined:
    Aug 14, 2013
    Threads:
    4
    Messages:
    35
    Likes Received:
    0
    For some reason the prepaid electric service here in our country is frowned upon by the masses. A few months back there was a demonstration in front of our one and only electric company because they hated the fact that their electricity would just all of a sudden die. Well, if you don't load any money, it should die right? These are people who do not earn enough and are not too educated to understand why their electricity was being cut off. I honestly think a prepaid service is cool. Unfortunately it isn't offered in our area.
     
  11. jodiann12

    jodiann12Active Member

    Joined:
    Aug 27, 2013
    Threads:
    18
    Messages:
    162
    Likes Received:
    0
    In Jamaica, they're thinking of using that prepaid electricity system. I think it would be great if they introduced that system there. Electricity in Jamaica is extremely expensive. It costs US$20 per kilowatt hour! It's more than any other Caribbean territory has to pay, and more than any other country I know of has to pay. So electricity bills in Jamaica are ridiculous so to cut back on costs, many people are using either wind turbines, solar systems, or a combination of both.
     
  12. Happyflowerlady

    HappyflowerladyWell-Known Member

    Joined:
    Mar 23, 2013
    Threads:
    65
    Messages:
    1,014
    Likes Received:
    266
    We don't have the prepaid electric here, and this is actually the first I have heard of it being offered to people. I have changed mine over to the one where they average out what you used for the last year, and then pay that each month. You have to be there a full year before they will do this for you, but then you know what you will be paying each month. We have actually used less the last few months than we paid, so I have a little savings account going for when winter comes, and the heating bill is high, then it will level out.
    At the end of the year they average again for the next ear, and you also either get the balance credited to your account, or you have to pay the difference , if you still owe more than you paid.
     
  13. Esperahol

    EsperaholActive Member

    Joined:
    Apr 28, 2012
    Threads:
    106
    Messages:
    694
    Likes Received:
    5
    No... and God no. Why would I want to engage in a system that basically insures I'm constantly scratching up change or going without? Traditional electric billing means that I can actually work online without worrying if I left on the light in the bathroom... or if I should be using the electric range... etc.
     
  14. fancy

    fancyMember

    Joined:
    Mar 30, 2013
    Threads:
    4
    Messages:
    62
    Likes Received:
    0
    Prepaid electric systems is extremely a great option for anyone desiring to save on electricity bills. I have found myself saving huge sums. This is because before such system was installed in my house i could pay at least $50 each month on electricity bills but to date I only spend $4 per 6 days which means in a month I only pay less than $26.