Key meters vs regular meters

[aaek]

Hi everyone,

I've been told by estate agent that key meters are cheaper than regular meters.

I'm in process of moving towards crystal palace(London) and got this property address on a website.
When I showed my concern towards key meters , the property agent said that key meters are less expensive than regular meters and one fuel is also less expensive than dual fuel as the property has only electricity connection available.


Is this true or just another gimmick for these agents to make us fool?

[freakyleaky]

Not sure on this but I don't beleive all electric would be the cheapest form of fuel.
Have a read of this thread on Martins site.
new !!! key meters !! , what do you think of them ? - MoneySavingExpert.com Forums

[aaek]

Thank you FL,

after reading your moneysaving forum, I think I must go ther with some preparations. Asking them about any debt on it.

The guy assured me that this meter will be changed in 2 days if I want.
So if its possible then whats the best tariff to chose from if I leave house at 8:30 in morning and come back at 6pm , weekends are off.

I read about British Gas plan 5 or something.

[ozzywizard]

This depends on your area, useage and method pf payment if not on a key meter.

On a key meter you pay a standing charge every day, usually about 18p. and you have one charge for every unit of electric you use.

On a credit meter you you have no standing charge but 2 rates of chargeable units. This is split into primary units and secondary units, usually the first 900 units in a year is charged at the primary rate (225 a quarter) and the rest is charged at secondary rate.

Now the key meter unit charge is more than the primary rate but less than the secondary rate. so taking the standing charge into account if your an average or low user paying the standard charge meens you pay more. If your a real high user then it is worth paying the standing charge so will be cheaper. Not much in it but is cheaper if real high user.

Also if you pay by DD you get a 10% discount with some companies and if you have both fuels with same company you get a duel fuel discount.

Me personally pay les on a key meter, but most people would be cheaper on a credit meter. I have 4 kids and my wife is at home all the time so family of 6 that uses heaps of leccy.