How EquiPower prices work
Regional variations
You may well be wondering why EquiPower prices vary by region while EquiGas can offer one rate across the UK for everyone.
EquiPower prices vary across the country because the technicalities and hardware of electricity distribution are handled by different regional companies. Each of these companies faces very different challenges and costs in the process, depending on whether their region is more rural or urban. For instance, there’s a lot more equipment and outlay involved in transporting power across the mountainous Scottish highlands than door to door in Birmingham. There is more detail of why rates vary regionally in our FAQs.
Gas prices, on the other hand, are simpler to regulate because just one company, National Grid, owns most of the pipes carrying gas around the country.
Find out more about how the UK electricity market works.
EquiPower’s fair rate
So how does our own tariff work, apart from the regional variation? What makes Ebico different?
EquiPower, as the name suggests, is an equitable rate available to all domestic customers in England, Scotland and Wales. We even out between all our customers the different expenses of different payment methods. Nobody is penalised because of his or her budget or circumstances or by how much gas they choose to buy.
Everybody pays at the same fair rate and there are no standing charges.
In contrast, most other energy supply companies charge pre-payment meter customers at a higher rate than other customers. Their reason is that there’s more effort involved in servicing this payment method – i.e. supplying and looking after the meters, which are the company’s property.
When you consider that pre-payment meter users have to pay up to a third more than online customers in some regions, you realise what’s special about EquiPower
As well as that, other companies also usually offer deals that mean people are charged less if they use a lot of energy, or when they commit to paying in a particular way. This means people pay a lower rate because they spend more.
In effect, the market at large rewards those who have more money to spend in the first place. Ebico aims to reverse that market trend. It may be the only energy company that actually encourages people to spend less!
When you consider that pre-payment meter users have to pay up to a third more than online customers in some regions, you realise what’s special about EquiPower.
For more information on our ethos, read about Ebico.