What is sub metering?
Prepaid Electric is a company focused on helping to support and protect the property investor’s electricity accounts by means of prepaid sub metering. Our submeters are the affordable answer to situations where:
- More than one property is leased on the same premises; and
- landlords want to ensure that they are not left with unpaid electricity bills after a tenant has moved out.
Our products
We supply prepaid submeters for elecricity as well as water that are ideal for homes, industrial properties, small factories, multi-resident properties. This is especially important for rented properties where tenants will often vacate the premises without settling their electricity, water, and utilities bills.
Prepaid submeter types
Two types of meters are available:
Electricity prepaid submeters
- Hexing Single Phase Prepaid Submeter – This is an integrated prepaid submeter, with a keypad and meter all in one. The meter is installed at the electrical distribution board.
- Landis+Gyr Single Phase Prepaid Submeter – This is an integrated prepaid submeter, with a keypad and meter all in one. The meter is installed at the electrical distribution board.
- Ihnemeter Single Phase Din Rail prepaid submeter – This unit is mostly used in complexes or in places where the distribution board is not inside the unit that needs prepayment. A separate keypad is provided for the loading of tokens.
- Ihnemeter Smart Three Phase Prepaid Submeter – This is an integrated three phase smart prepaid submeter, with a keypad and meter all in one. Smart means if a client wants it, we can have two-way communication with the meter using a SIM card.
Water prepaid submeters
- Laison STS Prepaid Water Submeter – This metal-housed meter is connected directly in the water line, and has a ball valve that closes once the credit has run out, thereby cutting off the water supply. The meter is battery powered. It has a separate keypad for the loading of tokens.
- Utility System Wall Mounted Water Submeter – This is a plastic meter that has its own housing and is connected directly in the water line. It has a rubber valve that closes once the credit has run out, thereby cutting off the water supply. The meter is battery powered. It has a separate keypad for the loading of tokens.
Prepaid meter rumours
There are rumours that as from 2024, prepaid meters will cease to accept new tokens. This is not true. Your meter simply needs to be reprogrammed in order to function on the new token vending platform. This entails two 20-digit tokens which will need to be entered into your meter, prior to 24 November 2024. All vending companies are currently preparing for the rollover. You can get more information by studying this document.
Vouchers
Tenants purchase vouchers, using the NetVendor app, or at participating outlets 24/7. More information about the NetVendor app is available here:
- The NetVendor app; and
- the NetVendor update for the app.
Strategy
Prepaid Electric prides itself in honest business and offers owners access to log into the purchase register of all vouchers purchased (More information is available from our office, after installation.). Money received from voucher purchases is paid to Prepaid Electric and owners are then reimbursed by paying the owner. This is paid directly into the owner's bank account. The owner then pays the municipal account themselves. Monthly statements of purchases and payments are issued (Optional).
Note that because the municipal system does not cater for prepaid solutions in sub letting situations, the service is provided by private institutions. Therefore, private software is used. Because of this, a transaction cost of 10% (excluding VAT) is taken as an administration fee on all transactions.
Where is the meter installed?
The majority of submeters are installed next to each unit's distribution board and allows each unit to function individually. With sub meter installations, the municipal KWH-meter is not removed, so the current account stays open (The account should preferably be in the name of the landlord, as tenants tend to move and leave behind unpaid bills).
Advantages of the prepaid submeter
Prepaid submeters do not only control electricity, but enable the investor to gain control of their entire property portfolio in the following ways:
- The meter’s software is designed in such a way that any owner can access the purchase history on all their tenants’ meters, assuring peace of mind that the pay outs made by Prepaid Electric is openly and honestly done.
- Monthly levies (fixed costs) can also be collected via the meter (for example an average water consumption levy per unit).
- Overdue rental situations are taken care of by Prepaid Electric which offers the investor more control, by disabling the prepaid submeter to prevent all further vending of electricity until the outstanding rent has been paid.
- Tenants found guilty of tampering/bypassing a meter (upon inspection by Prepaid Electric), will be fined with an amount of R1000.00, paid to the owner.
- Stolen electricity during time of bypass will also be calculated for the tenant’s account and loaded onto the meter for payment.
- Prepaid Electric will inform and discuss every finding or action with the owner.