I have a prepaid meter, why am I still being billed on my levy statement?

I have a prepaid meter, why am I still being billed on my levy statement?

You will notice on your levy statement that you are still being billed for electricity usage in your unit, which is being charged by the Body Corporate. When the resident purchases electricity, the prepaid company will, once a month, deposit the recoveries less their fee into the levy account.

The reason you are still billed for electricity by the Body Corporate is because even though your unit might have prepaid electricity, other units within the Body Corporate have normal credit meters. In effect, the Body Corporate still needs to recover these electricity funds. However, each time the resident purchases electricity you receive the net amount of the cost of electricity purchased. This is the amount of electricity vended less the % commission fee of the prepaid company.

It is important to note that there will be timing differences between when the Body Corporate reflects these electricity charges and when your levy account is credited with prepaid electricity purchases. This is due to the prepaid company recoveries being transferred for different periods than the Body Corporate billing period. Usually the Body Corpoate bills in arrears and the prepaid company deposits the funds for the current month.

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