Changing to Economy 7 Electricity

Ray_Williamson

How easy is it to change from a regular (one price) electricity tariff to Economy Seven? I have been on Economy 7 for years, and it is a great saver. However, I have friends who are still paying through the nose!
Are some companies very keen to switch your meter, or do some just refuse?
And is it best to have your meter changed by your old supplier, or to switch suppliers first, then ask them to switch you to the Economy 7 tariff?
:money:It would be helpful if the MSE site did make it quite clear that quite big savings are to be gained by using much cheaper overnight electricity, even without changing your supplier....
If, that is, you have a fridge and a freezer. And it is so simple to fit a plug-in time switch to your washing machine, load it the night before, so that the washing is done while you are in bed, ready to peg out in the morning so it has all day to dry.
What is there not to like about that?

martinbsp

Hope the MSE web wizard can make this work

macman

For most people E7 is only worthwhile if you have night storage heaters. The premium on day usage will more than wipe out any savings you make on running your washing machine at night.
And your fridge and freezer will therefore be running for 17 hours of 24 on a higher rate-how does that save money?

KimYeovil

A batch of washing uses 1.2 to 1.6 units. How many do non-timer switchable items require? - lighting, showers,cooking, kettle, tv, music, computers, cooking. Of course, if you do/use none of these things then E7 is working for you. But it seems a pretty rubbish misuse of modern civilization if the only electrical technology you take advantage of is an automatic clothes washer.

And, as Macman says, (17 * 1.3) + (7 * 0.3) > 24 (and that's underestimating the daytime cost.)

There may be situations where (if you have access to gas, ironically,) E7 is a sensible option. But not many. And certainly not for the two items you suggest. Please explain how you have saved any money.

macman

The only meaningful measure of whether E7 is worthwhile is knowing what percentage of your electricity is used on peak rate and what on E7. It would be interesting to see the OP's stats.
Few people would chose storage heaters given other options, it's usually because they move into a property with them already installed, or because they have no option of gas CH.

Haarlem

Find out what your low rate timings are.
See what consumption you can move to the lower rate
Is your life style such that you will use energy at the lower rate.

I have gas central heating.
I am on a teleswich which gives me a lower rate 01.00 - 08.00. all year round.
I am up 06.00 each day, and we have showered (electric shower through choice) and breakfasted on cheaper electricity by 08.00.
Washing machine on at night, and when forced to use tumble drier due to weather I get it done between 06.00 and 08.00.

I average 40% at lower rate in summer, and 30% in winter. Not a huge saving but it does work out at an annual £25 saving.

Don't forget, the main reason Suppliers want to install smart meters is to get you to move your consumtion away from peak demand (or charge you more for using it then), so if you want to save in the future then you will have to use electricity in the way E7 customers do at the moment. At the moment there are only 2 rates for E7, but it is predicted with smart meters there will be many more. In fact half hour metering for domestic customers has not been completely ruled out.

Remote reading is only an additional benefit in the eyes of the Suppliers when installing smart meters

Premier_2

Ray_Williamson wrote: »

How easy is it to change from a regular (one price) electricity tariff to Economy Seven? ...

Very easy. You just need a dual rate meter. Some suppliers may charge for a replacement meter , so shop around.

JennyR68

Ray I have no idea what your tarrif is but in my case changing from an E7 meter to a standard one saved me loads. I'd be saying make it clear you might not be saving anything if you don't have storage heaters.

Haarlem

JennyR68 wrote: »

Ray I have no idea what your tarrif is but in my case changing from an E7 meter to a standard one saved me loads. I'd be saying make it clear you might not be saving anything if you don't have storage heaters.

You cannot give blanket advice on suitability of E7. Savings can be made without electric heating.

JennyR68

Haarlem wrote: »

You cannot give blanket advice on suitability of E7. Savings can be made without electric heating.

Precisely my point Haarlem, I'm not giving blanket advice, if you notice I said make it clear 'you might not be' not 'you will not be'. It is up to everyone to put the time in to look at their own consumption/figures and work out what's best for them.

Ray_Williamson

Thanks for all your replies. I find there is a big saving with the E-on Age Concern tariff. This does not charge extra (either on standing charge - there is none -- or on daytime rate electricity) so it wins all round. I heard that some electricity companies do not like changing you over to Econ & as they do not make so much money!
I will look up the tariffs and let you know what I am paying (as soon as I find the bill)! I do know others pay a lot more!