Uswitch comments on Ofgem prepayment meter price cap announcement

Ofgem has today announced that energy customers on prepayment tariffs will have their bills capped from 1st April, 2017. Commenting on the news, Claire Osborne, energy expert at Uswitch.com, says: “This will be a welcome relief for the four million people on prepayment meters who have struggled with expensive energy bills for far too long. This new cap is due to put an average of £80 back into the pockets of those customers who haven’t been able to take full advantage of the best deals in the energy market, many of whom will be vulnerable consumers. The average big six standard prepayment tariff is currently £1,127 and this cap should offer some much needed breathing room.

“However, even with this price cap, prepayment customers will still be paying more for their energy than those on the cheapest direct debit plan available. If you can, you should switch to a credit meter and take advantage of some of the cheapest deals on the market by paying by direct debit. While all the big six suppliers offer meter changes for free, subject to a credit check, smaller suppliers may charge around £50 for a meter change – but you could easily make this back in savings off your bill in the first few months.

“If you don’t want to change your meter, you can still save by switching to the cheapest prepayment tariff available. You can even switch if you are in debt to your current supplier – up to £500 per fuel – so it is worth taking a look to see if you can get a cheaper deal.”

Find out how you could save over £1,000 a year with Uswitchhere.

FOR MORE INFORMATION

Ailene Barr

Phone: 020 3872 5610

Email: ailene.barr@uswitch.com

Twitter: @uswitchPR

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