Four million households across the UK use a prepayment meter to pay for their gas and electricity.
Many have been overcharged for years, sometimes paying as much as £220 more than their supplier’s cheapest deal.
That’s why we welcome the new prepayment meter price cap, which is in place from 1st April. This will limit the amount that an energy supplier can charge its prepayment customers. The average customer should save £80 per year.
Here at Bristol Energy we believe in treating all our customers fairly, which is why our prepayment meter tariff is already one of the cheapest on the market, and below the cap – where it will stay.
However not all energy suppliers have acted in the spirit of the price cap, with some raising their prices to meet the new limit set by the energy regulator Ofgem.
Peter Haigh, managing director of Bristol Energy, said:
“Prepayment meter customers have been unfairly penalised for too long, so I’m pleased that Ofgem has introduced a price cap.
“But I’m disappointed that many suppliers have put their prices up to meet this cap, rather than choosing to give their customers the best possible deal – which is surely what the cap was brought in to encourage.
“Let’s make decisions for the benefit of our customers, not our balance sheet, particularly for customers who are more likely to be living in vulnerable circumstances.”
The price cap will be updated every six months, and is expected to stay until 2020.