Charging for electricity using prepayment meters is a common practice in the UK, however many landlords and building owners would also like to charge for other utilities through the same secure and convenient solution provided by MeterPay.
MeterPay smart meters support M-Bus communication and allow up to three M-Bus enabled utility meters to be read over the mobile network via the electric meter. This means landlords and building owners can now charge for consumption of cold water, hot water, heat from a communal boiler or gas, through their MeterPay smart meters.
How It Works
- The landlord or building owner creates a tariff for the appropriate utility specifying unit rate and a daily standing charge.
- The utility meter is read periodically and each month a cost is calculated from the consumption and the rates set on the tariff.
- This charge is applied to the consumers meter as a debt. Each time the consumer tops up their meter, an additional amount is charged which is then deducted from the applied debt. This additional amount is applied as a percentage of their top-up amount, which is specified within the tariff.
- Gas consumption over the month is calculated at £25 and applied as a debt on to the consumers account.
- The payback percentage is set at 100% on the tariff.
- The tenant selects a £10 top up for their electric. The total charge for the top-up is £20, (£10 + 100%).
- The additional £10 charged is then deducted from their gas bill leaving £15 outstanding.
- If there is no outstanding debt on the account, no additional amount is charged.