Economy 7 Meters - BEWARE!

Howlinbob

I've just had a fascinating conversation with my electricity supplier, EDF. I was trying to pin down the exact tariff I'm on in order to compare it with Scottish Power, who keep trying to win me back. I was told I am not eligible for the cheapest tariff as quoted online, because I am on an Economy 7 meter. I have to be on the higher tariff instead. This makes quite a difference: 22.67p instead of 12.29p (1st 225 kw), and 10.68p instead of 7.63p (thereafter). Why am I on Economy 7 then? Because your property is registered as having storage heaters. Ah, but we ripped them out 8 years ago when we moved in. Yes, but you didn't tell your electricity supplier. What about when I had my meter upgraded a year ago? They just come and put a new meter in, like for like.

Maybe I'm really slow, but I didn't know there was a 2-tier system being operated amongst the electricity suppliers, and that the cheapest tariffs which come up on the comparison websites are generally NOT for Economy 7 meters (unless stated).

So if your meter has a 'day' and a 'night' rate, then it's Economy 7. If you don't have storage heaters, you probably don't need it. And you could be on a much cheaper tariff via a standard meter.

The good news is that EDF is going to change my meter to a standard meter free of charge in the next 2 weeks, put me on the cheapest tariff AND backdate it to the date I joined them (3 months ago).

I would advise anyone who is unsure what kind of meter they have, or what rate they are on with their supplier, to check it out.

Am I really late to the party???

Fire_Fox

You are comparing apples with oranges! Whilst the day rate is more expensive on E7, the night rate is applicable to every KWH of electricity you use overnight however much that may be. If used properly E7 is cheaper for an all-electric property than non-E7 as heating is the most expensive part of most people's energy bills. It's simplicity itself to set your immersion/ washing machine/ tumble dryer/ dishwasher to switch on overnight thereby only leaving lighting and a few gadgets on the more expensive day rate.

I have an E7 meter and E7 Scottish Power tariff and do not have storage heaters. It is marginally cheaper for me to remain on E7 than to switch to a single rate tariff, which I could do simply by adding together the number of units used day and night, no need to change the meter.

Cardew

I too have an E7 meter. However many years ago I stopped my E7 tariff and I am billed as if I have a normal tariff. The simply add the two meter readings and I am charged for the total on a 'normal' tariff e.g 200kWh on the E7 meter and 1000kWh on the day meter and I am charged for 1200kWh as if I had just the one meter.

I would add that I am with BG on a tariff fixed 4 years ago and I believe the cheapest in UK.

However! It is my understanding that some companies will not allow that arrangement(adding 2 totals) as their computer systems cannot cope with 2 meter readings added for the one bill.

I know that BG had a huge problem adapting their new computer system to cope and assume EDF will have the same problem.

Haarlem

Make sure you understand the E7 tariff before changing.

Confirm the times when you get the cheaper units, and decide if you can take advantage of them.

My meter is controlled by a teleswitch, so I get the cheaper rate to 08.00all the year round. As Firefox says it is practical to take advange of the cheap rate.

I do not heat my house by electricity, and my records show I use 50% of my electricity at the low rate April - October, and 30% at the low rate November - March.

I am with EDF, and the unit prices you quote seem high, although it will vary depending on where you live. My average E7 day rate is 12.9p, and my night rate 4.71p

Don't rely on what the call centre person told you. Look up the tariff on the web site, and do your sums.

kippen_noedel

Howlinbob wrote: »

1. Maybe I'm really slow, but I didn't know there was a 2-tier system being operated amongst the electricity suppliers, and that the cheapest tariffs which come up on the comparison websites are generally NOT for Economy 7 meters (unless stated).

2. The good news is that EDF is going to change my meter to a standard meter free of charge in the next 2 weeks, put me on the cheapest tariff AND backdate it to the date I joined them (3 months ago).

3. I would advise anyone who is unsure what kind of meter they have, or what rate they are on with their supplier, to check it out.

1. When inputting your details on ALL comparison sites they ask if you have E7.

2. No need to physically change a meter, they only need read the units as a single rate meter.

3. It tells you on your bill what type of tariff you are using, so it should have been obvious to you that you were getting charged for a night rate. What usage were you inputting to get a proper comparison ?

dogshome

Technology has moved on and now it ain't so easy to get the best from ECO 7 tariffs. When first married we lived in an ECO 7 flat, and it wasn't an act of genius to operate the wash m/c and tumble drier off of timers so that they ran in the wee small hours. However, (now living in a standard elec. house), I have had to replace both the wash m/c and dishwasher in the last 12 months and both have digital controls - This means that if the m/c programme is set and then the power is disconnected, the m/c loses the setting and re-sets itself to zero - So to run these machines on ECO 7 would mean either going to bed late enough for the low rate power to be in phase, or having an alarm clock that gets you out of bed at 1am to start the m/c

Premier_2

Nothing to do with whether or not you have storage heaters. (Although using storage heaters and not having E7 would be silly).

It's all to do with how much electricity you use during the off peak period ( which is typically less than half price), as you usually pay a little more during the day compared to the equivilent non-E7 tariff for that supplier.

20%-25% off peak usage is often the break even point, but even that is not always the case
http://forums.moneysavingexpert.com/showthread.html?t=1207887

Howlinbob

Thanks, Moneysavers.

Now that I understand the Economy 7 principle (thanks to you guys), I can see that it's not for me. We are quite high users of electricity in our house: we don't have gas central heating and my OH works from home. So some of our heating is electric, and lots of electrical items, some work-related and some not, are in use during the day. On the other hand, our gas bill is quite low as we only have 1 gas fire and 1 gas hob.

Looks like EDF won't give me the standard tariff without changing the meter, but as that is free, I'm happy to go ahead.

Other than that I think I might check to see if I could get a better deal outside of dual fuel.

Once again, thanks very much for all your input!
xxx

Haarlem

Howlinbob wrote: »

Thanks, Moneysavers.

Now that I understand the Economy 7 principle (thanks to you guys), I can see that it's not for me. We are quite high users of electricity in our house: we don't have gas central heating and my OH works from home. So some of our heating is electric, and lots of electrical items, some work-related and some not, are in use during the day. On the other hand, our gas bill is quite low as we only have 1 gas fire and 1 gas hob.

Looks like EDF won't give me the standard tariff without changing the meter, but as that is free, I'm happy to go ahead.

Other than that I think I might check to see if I could get a better deal outside of dual fuel.

Once again, thanks very much for all your input!
xxx

Don't mention to any suppliers that someone works from home, as they may wish to charge you commercial rates.

kippen_noedel

Haarlem wrote: »

Don't mention to any suppliers that someone works from home, as they may wish to charge you commercial rates.

they won;t be interested unless you claim more than 10% back via your tax bill

tori.k

I had this with EDF and they are changing my meter free of charge in Dec, but the catch with EDF free meter change is you will find your now stuck with them for the next 12 months or they will charge you for the meter,