Economy 7

mando_2 · 8 August 2006 at 4:13PM

I've just moved into a rental place and found out it has economoy 7. I'm home all day and will shortly have a newborn at home as well.

I've never had Economy 7 before, so I really don't understand it or what rates we are with (it's with British Gas for both). As I'm going to be using as much electricity (maybe even more) in the day am I going to find it expensive? Are you able to change from Economy 7 to the 1 rate type?

georgeyoggy · 8 August 2006 at 5:04PM

hiya mando

I'm too with BG and have an economy meter. I switched to the standard rate and they now owe me over £700 because of the difference in price.
I'd suggest to phone them now and explain that you don't have storage heaters ( I'm assuming you don't?) and so want to be on the standard rate.
Save tham extra pennies for your new baby instead

Ken68 · 8 August 2006 at 5:12PM

Hi Mando...If your landlord agrees, and BG allows you to amagamate the two figures, would be OK.
But watc h that you are not put on the higher day rate associated with E7.
For example, with EBICO the ordinary day rate is 7.4p per kwh, and E7 is 2.89p with E7 Day rate being higher at 8.68p. No standing charge and including vat.
Probably due to go up in September.
If you have storage heaters stay with E7.

fatbelly · 9 August 2006 at 8:27AM

Ken68 wrote:

For example, with EBICO the ordinary day rate is 7.4p per kwh, and E7 is 2.89p with E7 Day rate being higher at 8.68p. No standing charge and including vat.

Just did a bit of maths on Ken’s figures. I‘ve got a vested interest here as I’m with Ebico and have Economy 7.

The break-even point (trust me on this) is

(8.64-7.4)/(8.68-2.89) = 1.28/5.79 = 22% rounded.

That means, with Ebico on present figures, if you use more than 22% of your electricity during the Economy 7 period, you gain.

I use about 35% of my electricity on Economy 7, despite having oil-fired heating. My washing machine, dishwasher and three dehumidifiers(!) all come on at night, and I generally get up, shower (instant electric) and breakfast in the E7 period, so I guess it’s worth me sticking with E7 and Ebico at present

Ken68 · 9 August 2006 at 8:52AM

That's great, Fatbelly, you're making a good 'profit'.Like the idea of a dishwasher.
Having a job getting beyond 23%, so some lifestyle changes coming up.
Another suggestion, Mando , if you stay with E7 would be to use a slow cooker on auto .

mando_2 · 10 August 2006 at 9:23AM

Thanks guys for your help. I'll have to have a look into it more before deciding. Although I don't think it is viable for us. We don't have a dishwasher and I don't like to put the washing machine on a night as it disturbs the neighbours - plus I'm planning on using cloth nappies so it's going to be going quite a bit. I don't even know the E7 times so I will have to try and look them up and check to see if we use more power during that time first.

Thanks again for your advice.

georgeyoggy · 10 August 2006 at 12:05PM

Hi again

I too use cloth nappies ( they are FANTASTIC!!!!! Don't get me started!!!) I do put them on at night to wash but if its wet in the morning I have to tumble. I tried to make the most of the cheaper rate with the economy 7 but I just couldn't get my daytime usage down. With 4 kiddies aged 9,8,3 and 1 my washer goes everyday atleast once. I limit the tv, tumbler etc but it still cost me so much more. All I did was call BG and they swapped me to the standard rate straight away, no meter change, they just read the two dials together. First question they asked was did I use storage heaters, to which I replied no and they were more than happy to help. You can find info on their prices on their website so you can compare the standard, prepayment and economy 7 rates for yourself.
Good luck with whatever you decide to do

mando_2 · 10 August 2006 at 2:08PM

I've just taken a meter reading and thought I would have a look at the BG prices and compare what it has cost for 2 weeks in this house on the Econ 7 and what it would if I was on the normal rate (just useage cost no standing charges etc). On Econ 7 my useage cost of Electric is £23.28 and if I was on the normal rate it would be £18.99 so I think it's a bit of a no brainer really. I need to swap to save money.

Still haven't worked out the times for when the night rate is in effect. The BG site doesn't seem to have it on, just the prices. Never mind. I know what I need to do now.

irnbru_2 · 10 August 2006 at 3:37PM

mando wrote:

so I think it's a bit of a no brainer really.

How is the house heated?

mando_2 · 10 August 2006 at 4:29PM

irnbru wrote:

How is the house heated?

The house has gas central heating except for one electric heater in the conservatory. I have no idea how much we will use the conservatory in the winter as we have never had one before, I'm guessing we will probably stay in the main house anyway as we know it would cost quite a bit to heat via electric.

Ken68 · 10 August 2006 at 4:48PM

Economy 7 times are on the meter...mine reads oo.30am to oo7.30am....but actually 00.20 to 07.20.
With my own low consumption, hardly worth the effort of being on E7 , but like the idea that it is available at very low cost, once the breakeven point ,worked out by Fatbelly ,is reached.
For example, my neighboughood watch commander runs off all his letters at night, another re-charges his mobile scooter, and I am thinking of winter time beer brewing.

Economy 7

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