What exactly is Economy 7?

jd87

Can't find any other threads asking this.

I'm down as being on Economy 7, but I thought this was for people with storage heaters (which we don't have). My meter has separate Day and Night readings, does this mean I definitely have an Economy 7 meter? If so, will I save money by asking them to give me a normal meter? Will I have to pay for it?

Mimi_Arc_en_ciel

jd87 wrote: »

Can't find any other threads asking this.

I'm down as being on Economy 7, but I thought this was for people with storage heaters (which we don't have). My meter has separate Day and Night readings, does this mean I definitely have an Economy 7 meter? If so, will I save money by asking them to give me a normal meter? Will I have to pay for it?

Economy 7 is an electricity tariff with different pricing structures according to the time of day. The energy you use during the night costs less, per unit, than energy used during the day with Economy 7.

jd87

I know. So if my meter has separate day and night readings, does that mean I have to be on an economy 7 tariff? Or do all meters have separate day and night readings?

Basically I'm worried because I'm on an economy 7 tariff, but I don't use more energy at night!

Mimi_Arc_en_ciel

then you need to change meters - I benefit from economy 7 because its cheaper to use the electric from 7pm - 7am (think thats right times) so i have a shower etc at night and put the washing on at 5am before pegging it out on the line. If you dont use electricity at night then you'll be charged a higher rate for using it in the day so your not benefiting from it. Call your leccy board up but they may charge to swap meters

maz1964

hello all

ive got the same dilemma, am on british gas dual, but never changed or at least for quite a few years, and my friend told me that the rate for the day is much higher and a low rate for night however, although i use the dishwasher on night, that really only thing, im thinking of looking at changing too, so guess need to take some advice on this too myself, anyone else any other ideas

much appreciated thanks maz

Oblivion

We also benefit from Economy 7 because we tend to be early risers and use quite a bit of electricity during the cheap period showering, preparing breakfast and taking the chill off the place in winter with electric heaters.

We also have the immersion tank on a time switch (which can be over-ridden if need be) so that we get a full tank of hot water overnight at cheap rates, and the towel rail in the bathroom is also on overnight so we can get clothes dry in there when it's peeing down outside.

Dave.

Jonesya

mommyme wrote: »

I benefit from economy 7 because its cheaper to use the electric from 7pm - 7am (think thats right times)

You need to check the times, normally only 7 hours of each day are on the economy rate. The exact times vary by region, ours runs from 1:00 - 8:00 or something around that.

For the OP - check your bill, it should state if you're on E7 and there should be items listed on the bill for day units and night units.

maz1964

Jonesya wrote: »

You need to check the times, normally only 7 hours of each day are on the economy rate. The exact times vary by region, ours runs from 1:00 - 8:00 or something around that.

For the OP - check your bill, it should state if you're on E7 and there should be items listed on the bill for day units and night units.

yes that s right, mine is from 00.30 to 07.30 -

still unsure how to see if i could be better off with full day tariff or with what ive got,

tried to sites to compare but its really not that straightforward any one offer any advice thanks maz

Mimi_Arc_en_ciel

maz1964 wrote: »

yes that s right, mine is from 00.30 to 07.30 -

still unsure how to see if i could be better off with full day tariff or with what ive got,

tried to sites to compare but its really not that straightforward any one offer any advice thanks maz

well it goes off around 7 am and im in bed before 9 so it wont affect me if the time is different lol

Mazio_2

I have just gone off economy 7 as I have 4 children and no electric storage heaters so the difference is not enough to warrent the increase in day time cost as the units are always higher.
As I recall when the utilities were owned by the state economy 7 was introduced to try and get people to use electricity at night (off peak) but the day rate was the same so it really meant everyone should have been on economy 7. But this has changed now with all the utility companies highering the day rates (peak).
I believe there is a % split were it is viable to be on E7 but I dont know what that is except you have to use more electric at night then daytime.
Using it for hot water will only save you a few pennies as a117- 140ltr tank with a 3 Kw immersion should not take any longer than 1 hour from cold probably less so you will use 3 units (say 8p/unit as apposed to 10.5p/unit standard rate without E7 depending which region you live in?) this then has to stay warm all day or topped up with day rate electric. I cant do the maths but iam sure some one on here can.

marvin

Should not require a change of meter as all they would have to do is add the day rate to the night rate if you come off E7.