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PrePayPower, Ireland’s longest running lifestyle pay-as-you-go electricity provider, has just launched its first discount tariff.
The discounted electricity deal, which is available to new customers, offers an 18% unit rate discount in the first year.
The 18% discount makes this deal €170 cheaper over 12 months than PrePayPower’s current standard offering for an average household.
The discounted deal also makes PrePayPower the cheapest pay-as-you-go provider over 12 months, knocking Electric Ireland off the prepay top spot.
PrePayPower 18% discount – a closer look
PrePayPower’s new tariff will cost an average household €1,140 over the next 12 months, making it €68 cheaper than the next best pay-as-you-go deal.
PrePayPower, which cut unit rate prices in October, is known for its ads promoting “Ireland’s cheapest electricity standard unit rate,” and that standard unit rate is currently 17.89 cent. However, customers signing up to the 18% discount will pay a reduced unit rate of 14.66 cent (inc. VAT) for 12 months which is where the savings with this tariff are made.
Customers signing up to PrePayPower’s 18% discount deal will need to have a prepayment meter installed in their homes. The meter allows customers to top up in much the same way as a mobile phone; and top-ups can be purchased online, over the phone, and from PayPoint and Payzone outlets.
There is a €150 deposit required for installation of the meter which can be refunded on return of the meter to PrePayPower.
Like most discount tariffs, the 18% unit rate discount applies for the first 12 months. After 12 months, customers revert to PrePayPower’s standard pricing. Customers signing up to the PrePayPower 18% discount must agree to a 25 month contract.
Video: What you need to know about PrePayPower's 18% discount
So will PrePayPower’s 18% discount deal save you money?
For customers looking for pay-as-you-go electricity, PrePayPower’s 18% discount deal is the cheapest option over 12 months. The deal will save customers around €170 against PrePayPower’s standard pricing and is cheaper than other standard pricing plans, even with the prepayment service charge – a charge that is applied to lifestyle prepayment tariffs from all providers. PrePayPower’s prepayment service charge is deducted from meter credit daily and totals €137 per year.
Many discount credit deals, where customers pay by direct debit, are cheaper than PrePayPower’s new 18% discount tariff. However, pay-as-you-go electricity means that customers will not receive bills, prepayment can help customers to budget, and through awareness of electricity usage, prepayment can also help customers reduce their electricity consumption.
For customers in the market for pay-as-you-go electricity, PrePayPower’s 18% discount deal is definitely worth considering.
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