The prepayment solution is becoming increasingly popular, as it provides residents with complete control over budgeting. We’ve also found that providing consumption visibility encourages residents to make informed decisions towards reducing their energy usage, avoiding waste.
A collaboration of PAYG technology and risk management, iKnoWatt is a prepayment solution designed to work specifically with heat networks, providing two-way communication between the resident and the Heat Supplier.
Acting as a hub within the home, iKnoWatt allows residents to only pay for what they use. They won’t receive paper invoices and are only required to top up as and when required.
How it works
Instead of individual gas boilers, each apartment is fitted with a Heat Interface Unit (HIU), which transfers heat into the home and can be adjusted to suit personal preferences. Each HIU is fitted with a heat meter which accurately records the amount of energy consumed.
A data logger gathers information from the heat meter and sends it to our DataCollector software, which processes the data and updates individual balances on the iKnoWatt Portal. If a balance reaches £0, emergency credit is automatically applied, and the resident is notified.
Once a balance is negative having exceeded emergency credit, the portal communicates with the data logger onsite and instructs the Debt Control Device (DCD) to isolate the supply. The data logger will then reinstate the supply once payment is made.
Our easy to use customer portal provides complete control over budgeting and managing energy consumption. Accessed anywhere from any device, the portal allows residents to:
• View real-time usage and 12 months of consumption history
• Review their energy spend and current balance
• Find information on their tariff
• Make a payment
• Set alerts for when they’ve consumed over a certain amount, or if low on credit