Looking to switch. Seriously confused.

shadowspy24

I am currently with southern electric and I am wondering whether it is worth switching. My current rates with them are:

Gas general domestic NSC-moneysavers:4.310p/kWh standard, 3.240p/kWh after the first 1143kWh.

Electricity economy 7 NSC moneysavers: 19.00p/kWh standard, 13.00p/kWh discounted after the first 250kWh and 5.33p/kWh for nights.

I went on uSwitch but it wasn't much help. Are the companies planning on further cuts cos if they're not then i am planning to join Southern Electric's Price fix 3 september 2010 tarriff at:

Gas: 4.662p per kWh
3.344p per kWh above 1143 kWh per quarter

Electricity
18.04p per kWh
10.89p per kWh above 225 kWh per quarter

We use a fair amount of electricity and gas so do you guys reckon it is worth the switch? Thanks.

Magentasue

You can't really tell from the info you've given. What you need is your annual usage of both fuels in kwh - get this by finding two actual readings a year apart. Put these into a comparison site and you'll get a meaningful comparison.

Out of interest, why do you have economy 7 if you have gas?

kippen_noedel

shadowspy24 wrote: »

discounted after the first 250kWh and 5.33p/kWh for nights.

Those aren't "discounted" rates, they are just lower rates after paying a higher charge for the first tier. Companies use them as an alternative to standing charges, no actual discount is given

Magentasue is right to question your use of Economy 7, do you have some form of legacy storage heating or a swimming pool or greenhouse etc. Cheap Night rates just mean you pay more for what you use during the day. A simple rule of thumb is if you use less than 15% of your annual usage under a night rate, its probably worth checking if you are getting the correct tariff.

Magentasue

kippen_noedel wrote: »

A simple rule of thumb is if you use less than 15% of your annual usage under a night rate, its probably worth checking if you are getting the correct tariff.

With some tariffs, it's much higher than this. I've seen figures higher than 50% mentioned on this board. It used to be about 25% but it seems that, for most E7 tariffs, few people without storage heaters will be able to make it worth having E7 unless they use hardly any electricity during the day and/or run appliances at night.

shadowspy24

we have economy 7 cos that's what they sold us. Is it bad?As for the meter readings i will look them up and post them if i can find the bills going a year back.

Magentasue

You would almost certainly save money ditching Econ 7.

shadowspy24

right i have the meter readings:
for electricity in april 7th 2008: 6095
Now: 7th June 2009: 15091
so roughly using about 8000 units a year.

For gas:25th april 2008: 15544 units
Now: 7th June 2009: 17716 units
so 2172 units a year which equates to 24,124 kWh.

so from april 2008-now we paid £874 for electricity
and from april 2008-now we paid £870 for gas.

Magentasue

That is a lot of electricity. We use more than most at 5000kwh a year. I think you need to do two things. Put your annual kwh in a comparison site and see what comes up. Look at duel fuel and the single fuel tabs to find cheapest option. Do this pretending you don't have Econ 7.

Then, look again at your electricity readings and calculate the percentage of off peak kwh. If less than 25%, ask your supplier about changing to single rate tariff. Some change the meter and some don't and some will charge you so sort this before switching. Aim to get it changed for nothing.

If your off peak use is 25-60% of your total, use the comparison site to calculate costs with an without Econ 7. Unless it's nearer the 60%, I'd get it changed unless you can find an E7 tariff that offers big savings.

shadowspy24

ok. thanks i will do that.