Article updated: Friday 28 January
Ebico is a not-for-profit gas and electricity supplier, which charges prepayment customers the same rates as credit customers.
Ebico, founded in 1998, has over 50,000 customers. It was originally called the Equitable Billing Company and is based on the principle that everyone should be charged the same for their utilities.
It charges prepayment meter customers the same rates as credit customers and doesn’t apply tiered rates for energy use or a standing charge.
If you have a prepayment meter and are currently paying premium-rate unit prices, switching to Ebico could save you money.
Most energy suppliers charge prepayment customers at a higher-rate than other customers, saying there is more effort involved in servicing meters than in handling other payment methods.
Many also apply a daily standing charge for energy provision, plus tiered rates for high and low energy users which can end up penalising those who try to reduce their energy consumption.
Ebico is the only energy company that charges prepayment customers the same rates as its direct debit and quarterly bill customers. Plus, it has no standing charge – so customers only pay for the energy they use – and it doesn’t charge tiered rates.
Ebico offers both gas and electricity tariffs.
Its gas tariff is called EquiGas and everyone on this tariff is charged the same rate for gas, no matter where they are in the country or what payment method they use.
Its electricity tariffs are called EquiPower and while prepayment customers are charged the same rates as credit customers, Ebico’s electricity prices vary from region to region across the country due to distribution costs.
As well as a standard domestic EquiPower tariff, Ebico offers an Economy 7 EquiPower tariff which provides cheaper electricity at night.
Ebico customers can pay through any of the following methods:
Ebico was set up to “counter the market pressures that are increasing poverty and heightening social inequality”.
It says it aims to do the following:
Ebico says its principles are consistent with those of the Christian Gospel.
Ebico is particularly attractive to people with prepayment meters as it charges its prepayment customers the same rates as standard customers.
However, it also attracts credit customers who approve of its principles of equality and like its simple and transparent tariff structure.
If you are considering switching to Ebico, it’s a good idea to compare energy tariffs first to see how their prices compare to other suppliers’.