The renewed standards ensure suppliers are monitoring prepayment accounts to identify customers who might be at risk of facing financial difficulties. Suppliers may also provide discretionary credit and signpost customers to debt advice and financial support. The principles also include assurances about existing protections for prepayment customers.
The big six suppliers are signed up to the PPM principles alongside Bristol Energy, Cooperative Energy, Ecotricity, Good Energy and Utility Warehouse.
Energy UK chief executive Lawrence Slade said: “The launch of these prepayment principles will bring great benefits to consumers and reflect the increasing importance industry places on supporting the most vulnerable customers.
“The principles coupled with the rollout of smart meters will improve the experience of prepayment customers and give customers more control over their energy usage and bills.”
In 2011, Energy UK and Citizen’s Advice developed five key prepayment principles to raise standards of service for customers paying for their energy using a prepayment meter.