Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Edinburgh Live
Edinburgh Live
World
Katie Williams

Money Saving Expert shares energy pre-payment loophole ahead of price rise

Martin Lewis' Money Saving Expert website has highlighted a 'loophole' for those on pre-payment metres.

As the energy price cap hits in April, the average household bill is expected to rise by an extra £693. Meanwhile those on pre-payment it is expected to rise by £708 making yearly bills go up to an eye-watering £2,017.

According to MSE: "Prepayment meters are more expensive than standard credit meters is simply that they are more effort for the suppliers. Providers prefer to get regular, automatic payments for your energy, which is what you get with direct debit payments on standard credit meters".

READ MORE- Money Saving Expert shares urgent tips everyone needs to do before energy price hike

Now the team behind MSE, are urging people to 'stock-pile' energy.

Those on older prepayment metres are being encouraged to 'stock-pile' (Getty)

On the website, they say that those on pre-payment meters can top up as much energy as they can before the price cap goes up.

And it's totally legal.

The team said: "Many with older, non-smart meters on price-capped tariffs can legally 'stockpile' gas & electricity credit before prices shoot up. If you can afford to, it could mean big savings."

Andrew Capstick, an energy analyst for the Money Saving Expert team said the rates "won't change until the first time you top up following a price change, so any credit you've added before then will be charged at the old rates".

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.