With this system fuel is used and paid for later – in other words the fuel is supplied on credit.
Quarterly billing allows consumers to pay for fuel after every 3 months. A bill is sent for the fuel which has been used, or is estimated to have been used during the period that has just elapsed. This bill must be paid promptly.
A wide variety of payment options are available, including cheque and Switch/debit card.
Advantages:
- The customer only has to think about bills when they arrive
- Always have access to fuel, assuming that the bills are paid
- Only pay for fuel after it has been used
Disadvantages:
- It may be difficult to budget because of the large difference in winter and summer bills
- Problems can arise with estimated bills if the meter is not read
Things to bear in mind:
- It is important to make sure that fuel bills are based on actual, rather than estimated, meter readings to ensure that the consumer is paying enough to cover their ongoing usage
- Be aware that the price is usually higher with quarterly bills than with direct debit
This payment method suits
- Households whose income is regular and stable and which easily accommodates fluctuating bills