It is well known that people with prepayment gas and electric meters can end up paying more for their energy than people who pay through direct debit.
But just before Ofgem increases the energy price cap - which limits the rates a supplier can charge for each unit of gas and electricity you use - by £693 from £1,277 to £1,971 in April, it might be more beneficial to have a prepayment meter.
For people who are in a position to top up their meters a little more than usual before April 1, they can put off being charged the new rates.
READ MORE: Martin Lewis urges Brits to stock on up 66p item ahead of April 4 increase
Money Saving Expert explained how if you top up now, but use this energy after the price cap changes, you’ll be charged for your gas and electric at the rate that applied when you topped up.
Your rates shouldn’t change until the first time you top up following a price adjustment, the Mirror reports.
If you have a smart prepayment meter, this stockpile trick sadly won’t work as these meters are updated remotely with the new rates on the day of a price change.
Explaining the loophole in the latest MSE newsletter, the team said: “Prepay for your energy? Can you top up NOW to beat April's price hike?
“Many with older, non-smart meters on price-capped tariffs can legally 'stockpile' gas & electricity credit before prices shoot up.
“If you can afford to, it could mean big savings.”
Prepayment customers will be worse hit, with an increase of £708 from £1,309 to £2,017.
This means to benefit from the cheaper rates for a little while longer, you’d need to top up your prepayment meter by April 1.
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