As a responsible supplier and the only energy supplier actually owned by its customers we make pre-payment meter facilities available to customers that need them. This is in fact a legal requirement of our licence.
Just 214 of our customers are on a pre-pay dual fuel tariff and we have never actively sought to attract pre-payment meter customers, promote or advertise this facility.
We currently administer pre-pay dual fuel customer accounts manually which means that, regretfully, the cost of servicing is higher and this is reflected in the tariff. The difference between our two tariffs also appears high because our cheapest dual fuel online tariff is significantly below the average in this list.
We have once again taken the opportunity to review our dual fuel standard variable tariff and will be reducing it so that it is one of the most competitive tariffs on the market. We will be writing to all our prepayment customers in the next few weeks to confirm this price reduction.
We intend to work towards eliminating the differential between pre-pay and standard variable rate tariffs as we roll-out smart meters which reduce the cost of servicing customers.
As a member-owned co-operative society, we are one of the few suppliers that have not acquired pre-payment customers through privatisation or acquisition.