Stooooopid question.....probably

Chuzzle

We currently have an economy 7 meter but have never had storage heaters in the 14 odd years we have lived here. I'm now wondering if we can make a saving by getting rid of the Economy 7 bit - I assume its economy 7 cos we have 2 rates on the meter.

Can I just change to a new supplier and give them the total reading or do I have to request my current supplier does something to change this to a non ec7 meter?

Like I say its probably a daft question but I need to know.:)

penrhyn

If you look at a bill you can tell if you are on E7, it will refer to day and night units.
Changing to a single rate tariff may involve a change in meter, this varies between providers.

Bark01

Some suppliers will just charge you the same price for both dials if you decide not be E7, if they won't do this they will normally change your meter for free. Don't pay for a new meter, change suppliers if needed.

Cardew

Chuzzle wrote: »

I'm now wondering if we can make a saving by getting rid of the Economy 7 bit -

Very probably you will save by getting rid of E7.

The savings you make from the cheap rate electricity are offset(and exceeded) by the extra you pay for all other electricity.

It is very difficult(but not impossible) to make E7 'pay' without storage heating.

The break even point, i.e. the percentage of cheap rate electricity you need to use, varies by company, tariff and area of UK.

As said above some companies will add the two readings e.g. 1000kWh cheap rate and 3,000kWh day rate is treated as 4,000kWh.

JennyR68

You can mess about with different tariffs if you have an idea of your consumption on http://smartmeter.ukpower.co.uk/ and see how it works out for you.

I know British Gas adds them together.

markharding557

Agree with cardew you will save by changing to a non e7 tariff these only pay if you use alot of night time power

macman

It's not a stupid question at all, the only problem is that you should have asked it 14 years ago. E7 is pretty much useless as an economy unless you have night storage heaters.

Fire_Fox

I have an E7 meter for an all electric flat but no storage heaters. I have consistently broken even or come out slightly on top with this arrangement, providing I use very limited heating. My break even is about 30% which isn't difficult, just the immersion and washing machine on timer at night would be easier if I had a tumble dryer and dishwasher!

Premier_2

macman wrote: »

...E7 is pretty much useless as an economy unless you have night storage heaters.

I have E7, do not have any storage heaters, in fact have gas central heating.

I calculated the break even point for me was about 25% and since 7/24 is almost 30% you can see why it is quite easy to gain with E7 vs the comparable single rate tariff.

In certain circumstances, it would be foolhardy to choose the single rate tariff vs the comparable E7 version.
http://forums.moneysavingexpert.com/showthread.html?t=1207887

You need to do the calculation based on your own circumstances to decide whether E7 is cheaper than the comparable single rate or not.

JennyR68

My current consumption is 27% night time use. Last weeks consumption would cost 13% more on E7 tariff rather than the equivalent single rate.

macman

Premier wrote: »

I have E7, do not have any storage heaters, in fact have gas central heating.

I calculated the break even point for me was about 25% and since 7/24 is almost 30% you can see why it is quite easy to gain with E7 vs the comparable single rate tariff.

In certain circumstances, it would be foolhardy to choose the single rate tariff vs the comparable E7 version.
http://forums.moneysavingexpert.com/showthread.html?t=1207887

You need to do the calculation based on your own circumstances to decide whether E7 is cheaper than the comparable single rate or not.

Fair enough, I think that what I should have said is that E7 can work if you are aware of the premium you pay for day time use and plan your usage accordingly.
But the problem that frequently occurs on here is of people without storage heaters (or people who have turned them off and use other heat sources) being still on E7 and seemingly unaware of why their bills are so high. Or sometimes no even aware that they are on a E7 tariff.