Changing to Economy 7 Electricity

molerat

With my consumption patterns (69/31%) I would pay £17 with E7 for £10 standard so is a non starter. The big users, pc, plasma & cooker, would be impractical to use whilst in bed sleeping Amazing what you can get from an energy monitor.

KimYeovil

Ray_Williamson wrote: »

I find there is a big saving with the E-on Age Concern tariff.

Please reveal what your annual day and night consumption is. For a range of useages E-on's Age Concern/UK tariff is significantly more expensive than their other cheaper E7 tariffs. It would be interesting to know what your strange sweet spot is.

Unless you are on an older tariff that is no longer available?
.
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macman

Ray_Williamson wrote: »

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!

If this were so, every customer would be on this tariff as it would be cheaper than single rate. There has to be some offset for cheap rate E7.
The no standing charge is irrelevant, as the unit rate will be higher to compensate.

Premier_2

macman wrote: »

If this were so, every customer would be on this tariff as it would be cheaper than single rate. There has to be some offset for cheap rate E7.
The no standing charge is irrelevant, as the unit rate will be higher to compensate.

Sometimes suppliers do offer E7 rates that are always cheaper than their comparable single rate tariff
https://forums.moneysavingexpert.com/discussion/1207887

(it's a bit old now, but the principle still holds even if the unit prices have changed)

Not saying this is necessarily the the cheapest possible option for an individual, but on a like for like basis, E7 would be cheaper than the equivilent single rate tariff ... but I bet there are some people on that supplier's single rate tariff.

Former_E.ON_Company_Representative:_Malc

Ray_Williamson wrote: »

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!

Hi Ray

On the Age UK product, the unit prices for the first tier (primary) of usage are lower than those on our standard tariff. However, the second tier (secondary) rates are higher than standard.

Therefore, when comparing Age UK to standard prices, it depends on the usage as to whether or not this tariff is competitive. Very low users should see a financial benefit but it is likely those with average or above usage will not.

We are happy to put customers on Economy 7 if they request it. It is important, though, to be aware of the premium rates we charge for daytime usage when on Economy 7. This applies to all our Economy 7 products.

Therefore, a sizeable chunk of electricity needs to be used during the Economy 7 hours before this set up becomes competitive. The actual amount of night usage needed will depend on the region.

Hope this is useful Ray. Give me a shout if you need any more info as will be happy to help.

Malc

Ray_Williamson

That is very interesting -- thank you. My own usage is fairly low as (unlike some folks) we switch everything -- well, nearly everything: not the video/time switches obviously -- off when not in use and use a lot of low energy lights, etc.
I am sure it is not true that you need night storage heaters to make a saving. It all depends!

macman

You don't need night storage heaters, but unless you can use say 40% minimum of your total consumption during the E7 cheap rate hours then it's unlikely it'll save you money. This might work for people who are on odd shifts and awake at night (or insomniacs). but for most people it won't, even if you hook your washing machine up to a timer and set it to run at 3am (which your neighbours will really appreciate of course).
The lights and video are frankly irrelevant, they only account for a small proportion of your consumption-the big users are heating, hot water, washing machine, tumble drier etc.

Premier_2

Ray_Williamson wrote: »

...I am sure it is not true that you need night storage heaters to make a saving. It all depends!

Exactly

It depends on the tariff and your usage. Do the calculation yourself to compare. (but read Malc's post as you appear to have incorrect unit prices)

clairehi

If you phone your utility company they should be able to look at your last bill and tell you if you would be better off with E7, you dont even have to work it out yourself.

We are on E7 and I did this the other day - however it turned out there would be virtually no difference if we were on a single meter, despite the fact we have gas central heating.

Former_E.ON_Company_Representative:_Malc

Ray_Williamson wrote: »

That is very interesting -- thank you. My own usage is fairly low as (unlike some folks) we switch everything -- well, nearly everything: not the video/time switches obviously -- off when not in use and use a lot of low energy lights, etc.
I am sure it is not true that you need night storage heaters to make a saving. It all depends!

Hi Ray

As claire says, we would be happy to let you know if you would be better off on Economy 7 or a single rate tariff. It takes seconds to check. Just give us a call.

Alternatively, drop an email with your details to the address in my Profile if you prefer. I will gladly take a look.

Malc