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anypotter

We are moving into our first flat in two weeks time. We have got most things sorted out but the issue of Water/elec/Gas is still baffling us as the current tennant didnt really enlighten us on what he was paying.

We are moving to a 2 bedroom flat (one of the bedrooms will hardly be used so wont be lit, heated very much). There are radiators throughout which arnt electric but the shower is electric and Im not sure what the hob/oven is.

both of us work Mon-Fri so we were told that Econ7 was the best.

I really want to get a better idea of what we should expect to pay on a monthly basis so we can budget for it. Is it best to go for a capped annual supplier?

Any pointers would be much appreciated. :T

Premier_2

I'm sure you have 101 other things more pressing regarding moving onto a first property than to consider choice of energy supplier.

Anmyway, you'll have to register with the existing suppliers first. Discuss with those suppliers what they would consider the best tariff for you, else they will probably put you on their standard (expensive) tariff.

Be aware of any early exit fees before agreeing to a different tariff if you are considering switching later, but any switch will typically take about 6 weeks after you have requested it.

You can't have E7 if you only have a single rate meter, and likewise some suppliers (not all) will not allow you a single rate tariff if you have a dual rate meter. You could ask to have the meter changed, but this will take time and may incur you in additional cost.

macman

'both of us work Mon-Fri so we were told that Econ7 was the best.'

Who told you that? Very uninformed advice.If you have gas CH then it is unlikely that E7 will be your cheapest option, whether you are out all day or not. E7 is most likely to be suited if your flat has storage heaters, which does not appear to be the case if you have 'non-electrci' radiators (gas boiler powered wet central heating?).
On E7 you will pay a premium on all your consumption outside the E7 hours: mornings, all evenings, all weekends.

electricityemployee

E7 is only going to be best if you are using all the electricity between the hours of 11pm and 6am to be honest. Stick with the standard meter as you will find that the tariff will work out better for you. For example, you could have a standard tariff of say 10pkwh. compare this to E7 where your 'day' units would be charged at 13pkwh and the 'night' at 6pkwh. you would only really get a saving if you are using a lot of electricity in the middle of the night.

Premier_2

electricityemployee wrote: »

E7 is only going to be best if you are using all the electricity between the hours of 11pm and 6am to be honest. Stick with the standard meter as you will find that the tariff will work out better for you. For example, you could have a standard tariff of say 10pkwh. compare this to E7 where your 'day' units would be charged at 13pkwh and the 'night' at 6pkwh. you would only really get a saving if you are using a lot of electricity in the middle of the night.

In that hypothetical simple example, the break even point appears to be about 437% lowl rate usage.

A customer really should do their own calculation based on the actual tariff details. e.g. in my case, a usage as low as 20-25% low rate usage is a break even point for E7
(Since 7/24 = 29%, that is not unrealistic, especially if timers are used for the heavier consuming appliances)

In fact, in some extreme cases, it can be more cost effective to choose E7 over the equivilent non-E7 tariff no matter what % split is involved.
https://forums.moneysavingexpert.com/discussion/1207887

It's an old thread and the link included therein may no longer work, but the principle is as vaild today as it was then.

People should check and confirm by doing their own calculation using correct and appropriate tariff data.

davidgmmafan

The existing supplier should have a reasonable idea of the previous consumption at the address. Clearly this is only useful if the no of occupants and thier lifestyle is similar to yours, but in the absence of any more accurate figures its better than nothing.

It might not hurt to add a bit on, if you are able to, in case they used very little. In terms of the best tariff as others have said E7 usually won't suit unless you use a lot of power in the early hours of the morning. If you have night storage heaters then it probably will be viable. In terms of the best tariff all you can really look at is one that ideally doesn't have a tie in and look at the price per Kwh. You can't be anymore accurate than that since you don't have the figure you need (annual consumption) to work out what the best tariff is.

dunloadin

All talk of E7 is hypothetical if you don't have an E7 meter!

As you have wet radiators it's highly unlikley you have an E7 meter, and I'll be surprised if you can get one fitted as they are for heating sysems that use storage radiators.

Just move in and get your account set up with the current supplier, then look round for a cheaper deal...don't forget to take the meter reads when you first move in.

davidgmmafan

Very true about the economy 7 meter. Also if there IS an economy 7 meter there and there's no storage heaters might be better to have it taken out. It is possible for suppliers to change the tariff without changing the meter but can cause confusion in the event of a meter change as you'll go back on E7 and have to explain it all again!

"Just move in and get your account set up with the current supplier, then look round for a cheaper deal"

Again sound advice, but it needs to be modified a little since you don't know what your consumption is so you can only do a vague sort of comparison. Hence try to aviod tie-ins unless its going to save you a lot of money which at this stage you can't know for sure!

Pincher

Budget for £900 a year, £75 a month. You should have change from that, once you get your tariff sorted out.

Premier_2

dunloadin wrote: »

All talk of E7 is hypothetical if you don't have an E7 meter!

Correct, as I mentioned as early as post#2

dunloadin wrote: »

As you have wet radiators it's highly unlikley you have an E7 meter, and I'll be surprised if you can get one fitted as they are for heating sysems that use storage radiators.

Almost anyone can have their single rate meter replaced with a dual rate one suitable for E7. Usually just a case of contacting the supplier and requesting it. A charge may apply (as I suggested also in post#2)

Whether doing so is a sensible idea costwise is what is in question. My advice to that was given in post#5.