Dave Kauffman, Tantalus Systems and Jeff Weiser, PayGo Electric
Join Tantalus Systems and PayGo Electric to learn more about how utilities can use prepay solutions to improve performance.
Utility companies are becoming increasingly creative with ways to price electricity so that homeowners can find rates that will meet their budgetary needs. Prepaid electricity is one option that is growing in popularity nationwide. Prepaid electricity plans allow homeowners to pay for electricity in advance, and can be a good option for consumers on a strict budget or who are interested in carefully monitoring their energy consumption.
The key to managing your prepaid electricity is in using the electric meters provided by the utility company. Smart meters allow you to monitor electric use, providing readings multiple times per day.
Advance pay utility plans can be a helpful tool in getting out of debt, because consumers are able to carefully manage the amount of money being spent for service, and even control the intervals at which they want to pay. When the money in your account runs low, you can make choices to control your spending or choose not to reactivate service until you are ready. Advance pay users spend less on electric service than in traditional programs, largely because consumers are more informed about their usage and reap tangible rewards for reducing use.