The Chancellor has announced a major financial change for customers on prepayment meters following fears of rising energy bills.
Customers who pay for their energy bills via a prepayment meter will no longer be subjected to "premium costs". Typically households would pay more on a prepayment meter compared to those on direct debit because they have to foot the extra cost of energy companies managing the meters.
However, rates will now become fairer as prepayment meter prices come more in-line with direct debit costs. According to the government, this will save customers an average of £45 a year.
