Prepay electricity goes by many names "Incharge" (Genesis Energy) and "Globug" (Mercury Energy) are two of the common ones.
The electricity companies love to tell you that this is not more expensive, it's just another way of buying power.
The first way they lie is often there are more fees associated with prepay power. With Globug there is a 50c processsing fee with each transaction in addition to any other fees associated with paying your bill.
The next way they lie is that electricity companies by law have to have two plans, a low user, and a standard user. Electricity companies are not being nice when they offer a low user plan, nor are they being nice when they contact you every year to recommend the best plan for you, this is government mandated and obligatory.
The low user plans are not big money earners for power companies. The standard user plans are.
The only option on prepay is the standard pricing plans. There is no low user option.
The final (and largest) way they lie is that prepay users do not qualify for prompt payment discounts.
Every electricity company we are aware of offer a 10% (or more) discount for paying your bill on time.
Prepay users NEVER get this, even though they pay in advance. So they always pay 10% more than any other paying customer.
It's no wonder that our contacts with Mercury Energy have informed us that Mercury Energy refuses to remove Globug meters and forces people in those properties to be on prepay power. This appalling behavior has apparently been happening for six months now and has no signs of stopping.