Do I have to top up my power before April? Who could save on prepayment meters prior to price ceiling increases



Money saving expert Martin Lewis has suggested that households on prepayment meters could use a top-up trick to save them money on their energy bills in April.

The tip could help counteract the initial pressure caused by rising energy price ceilingalthough it has been shown that it will not work for some providers.

Do I have to fill up my meter before April?

About 4 million households in the UK pay for their energy in advance using a prepaid meter. These households face slightly higher costs than direct debit customers.

People who use prepayment meters are often in lower income groups or have struggled with debt.

Financial expert Martin Lewis has previously said that for those who can pay in advance, it may be wise to mass-purchase energy at the cheaper rate before the rise goes up in April.

However, a number of suppliers have since come forward and said that they will demand the money back if they discover that customers have bought a large part of the energy in advance.

“If you do not have a smart meter, the long-term logic has always been that it is the price of the day you fill up that counts,” Martin said in a video this week.

Unfortunately, companies, including Scottish Power ad EON, have already come forward to say that they will take the money back from customers who buy large quantities before the ceiling rises.

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According to Martin Lewis, “all companies reserve the right to reclaim the extra savings” if it costs them too much, but not all companies have said they will reclaim the money.

In fact, he said the trick is “most likely” to work for British Gas, Shell Energy, Octopus and Bulb customers.

While the tip may not work for everyone, the worst that could happen would be to be left with a big chunk of energy paid in advance at the increased price.

“If it works, you get cheaper prices in April. If it does not work, you do not get cheaper prices in April, but you still would not if you did not do this,” Lewis said.

“So nothing is lost and the savings can be significant if it works.”



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