Albeit, we are quite aware of prepaid options for a few products, i.e. in mobile phones and internet connections, there are still confused and we are yet to understand the procedure and implications of pay-as-you-go facility in terms of electricity.
People are more concerned about their energy consumption and several have initiated many steps to reduce their electricity usage and have opted out for pay-as-you-go or prepaid electricity facilities.
People can track their exact electrical usage using smart meter with prepaid options for electricity and are more aware of the energy consumption and wastage on a regular basis. In addition to that, people having bad credit backgrounds are shifting to this payment option as a new economic way to consume electricity for their regular use without the stress to get associated with paying electricity services.
Pay-As-You-Go Electricity – Know the Facts
The deregulated market of electricity has introduced several payment options and multiple plans catering to the multiple needs and preference, and prepaid electricity is one of the options that are available on many areas in the country. Having offered with the opportunity to opt for many available retail electric providers and leverage the prepaid payment options, people are blessed with many options and are offered flexibility in making paying of their electricity bills as per their budgets and lifestyles.
Just like purchasing gas for your vehicles or household use, pay-as-you-go electricity enables users to make payment of their electric bills before hand, which can be used based on the requirement. Individual can load in advance and can add funds to the prepaid account every month.
How Viable is Pay-As-You-Go Electricity Option?
Studies manifest that people consuming pay-as-you-go options can help them save nearly 10 to 20 percent from their electricity consumption. This saving is almost equal to a reduction of almost 15 to 20 tons emission of green house gas.
Implications that Prepaid Electricity May Cause for Consumers
Earlier, people can get an idea if they are consuming large quantity of electricity by watching the speed of the round dial in the electric meters that are installed outside their homes spin. As now smart meters are the proof for the people, they can now tell how much electricity they have already consumed and how much it will cost them.
Having this set-up in place, consumers can now gain a better overview of their electrical usage, and can decide and plan how much should their house consume and how much more it has consumed.
Synopsis
Pay per use electricity concept is really a great idea to rely upon for the people that will not only have a great economic implication on their bills of electricity, but it will also enable them save the environment by cutting down on energy consumption and reducing carbon emissions.
