Electric and Gas Pre Pay Meters

Electric and gas token meters are a simple way of not getting a nasty surprise at the end of the billing period. They are also used when you fall be behind with your gas or electric bill.

With token meters you pay as you go for the service based on the usage of your gas and electricity.You can also monitor your usage, so you can make adjustments as required to use less gas and electric.

How do you pay for your gas and electric using the token meter? When the electric and gas supplier fit your new token meter you will be given a plastic key or a swipe card, you will then have to visit your local convenience store, petrol station or post office, to credit your key or swipe card.

The minimum you can credit your card or key is £1 and there are no maximum limits.

Once you return home simply insert the key or card in to the meter and then your meter will be in credit.

Obviously during the warmer and lighter months throughout the year you will not be using as much gas and electricity, but the idea is to keep the meter topped as when it comes to using more usage in the darker colder months you will have credit on the meter and you will not be playing catch up.

There are some disadvantages to prepayment meters. One of these is that with some service suppliers you pay a fee that they claim is for maintenance of the meter and for financing charges. According to some groups this can cost up to 195 pounds a year for this service. There are some suppliers that do not charge this fee and it is crucial that you shop around to determine the best company to go through. There is also the risk of Back Charges, these are when the rate for consumption may increase but there is a delay before the meter is recalibrated for this change. This is through no fault of the customer, but often they need to pay the difference when they go to reload their meter. Many suppliers no longer do this back charge, however some still do.

Despite these shortcomings, a large percentage of users of the electric and gas pre pay meters say they are very satisfied with this type of service; however it is believed that half of these do not realize that they are paying the finance charges.

Kevin Walker is the owner of mymoneycredit.com which compares pay day loans and other various lending sourcesElectric and gas token meters are a simple way of not getting a nasty surprise at the end of the billing period. They are also used when you fall be behind with your gas or electric bill.

With token meters you pay as you go for the service based on the usage of your gas and electricity.You can also monitor your usage, so you can make adjustments as required to use less gas and electric.

How do you pay for your gas and electric using the token meter? When the electric and gas supplier fit your new token meter you will be given a plastic key or a swipe card, you will then have to visit your local convenience store, petrol station or post office, to credit your key or swipe card.

The minimum you can credit your card or key is £1 and there are no maximum limits.

Once you return home simply insert the key or card in to the meter and then your meter will be in credit.

Obviously during the warmer and lighter months throughout the year you will not be using as much gas and electricity, but the idea is to keep the meter topped as when it comes to using more usage in the darker colder months you will have credit on the meter and you will not be playing catch up.

There are some disadvantages to prepayment meters. One of these is that with some service suppliers you pay a fee that they claim is for maintenance of the meter and for financing charges. According to some groups this can cost up to 195 pounds a year for this service. There are some suppliers that do not charge this fee and it is crucial that you shop around to determine the best company to go through. There is also the risk of Back Charges, these are when the rate for consumption may increase but there is a delay before the meter is recalibrated for this change. This is through no fault of the customer, but often they need to pay the difference when they go to reload their meter. Many suppliers no longer do this back charge, however some still do.

Despite these shortcomings, a large percentage of users of the electric and gas pre pay meters say they are very satisfied with this type of service; however it is believed that half of these do not realize that they are paying the finance charges.

Kevin Walker is the owner of mymoneycredit.com which compares pay day loans and other various lending sources



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