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Electricity - CREDIT METER VS PRE-PAID METER
Many residents in Overstrand want to compare costs between credit meters and pre-paid electricity meters.
As can be seen, residents who make use of pre-paid electricity, pay less per unit than those who make use of a credit meter. The reason is that no meter readings need to be taken by the municipality and the payment is received immediately.
On the other hand, payment for electricity consumed on a credit meter (with slightly more expensive tariffs) is received approximately 60 days later only, after the meter was read at the end of the period, the account being prepared and send, with a further number of days’ leniency, up to due date by the 20th of the following month. The deposit applicable on the credit meter is two times the average consumption during the preceding 12 months, while the deposit payable on the prepaid meter is R604.00 for single phase, two part tariff.
The table below sets out the comparison between credit meters and pre-paid electricity meters (VAT included). Sliding scales are applicable in both instances.
The following comparison is done with 700kWh units consumed/purchased per month:
Credit Meter
Tariff Structure_Block 1: 0 - 350 kWh
Unit-per-kWh usage_350 x tariff per unit_R1.5717 = R550.10
Pre-paid Meter
Tariff Structure_Block 1: 0 – 350 kWh
Unit-per-kWh usage_350 x tariff per unit_ R1.4518 = R508.13
Price difference: R 41.97
Credit Meter
Tariff Structure_ Block 2: 351 - 600 kWh
Unit-per-kWh usage_250 x tariff per unit_R2.3083 = R577.08
Pre-paid Meter
Tariff Structure_ Block 2: 351 - 600 kWh
Unit-per-kWh usage_250 x tariff per unit_R2.1752 = R543.80
Price difference: R33.28
Credit Meter
Tariff Structure_ Block 3: > 600 kWh
Unit-per-kWh usage_100 x tariff per unit_R2.8361 = R283.61
Pre-paid Meter
Tariff Structure_ Block 3: > 600 kWh
Unit-per-kWh usage_100 x tariff per unit_ R2.7262 = R272.62
Price difference: R10.99
• For 700 units used you will pay R1 820.41 for credit meter and R1 734.18 for Pre-Paid meter (price difference is R86.23)
