Price differentials in payment methods
“People want choice when it comes to paying for their gas and electricity and companies provide a range of options to suit their customers. Companies only charge customers more when their chosen payment method costs more to run. The introduction of smart pre-payment meters over the course of the next few years should help close the gap in costs between payment methods. If customers are worried they should talk to their supplier. Payment plans can be arranged and extra time to pay can be given to those who are struggling.
“Customers should always shop around for the best gas and electricity deal to suit them. Companies tell customers if there is a cheaper deal available to them and new reforms have made it easier for customers to compare tariffs. More and more people switch supplier each month. This is a great testament that the industry is increasing competition in an open and transparent market.”