Economy 10 - bad idea?

Emmy101

I moved into a property with no gas which had electric storage heaters on Economy 7. They were very old and the water boiler needed replacing, so I am having electric central heating (radiators) installed. It is a Heatrae Sadia boiler and I have been advised by the plumber to switch to an Economy 10 meter (as per the boiler manufacturer's advice.) I phoned Eon but they gave me the impression that this was not a good idea as there is not the option to change providers and apparently it costs more unless you are very careful. However I did get the impression the man didn't really know anything about it and I didn't feel well informed. Also I need it done this week! Do I need economy 10 or is it a bad idea? Help!

spiro

From what I have read on this forum vey few suppliers offer an E10 tariff. This will restrict your choice and you will not be able to use any of the switching sites to determine rates etc. For E10 you typically pay about 10-15% more than for E7 but obviously you get 3hrs more elec at the night rate. If you currerntly have an E7 meter you will need to get a new E10 installed which (a) you suplier will need to be able to do and (b) will probably charge you for.

Historically I think E8/9/10 were offered more in the north and Scotland due to the colder winters.

Premier_2

Emmy101 wrote: »

I moved into a property with no gas which had electric storage heaters on Economy 7. They were very old and the water boiler needed replacing, so I am having electric central heating (radiators) installed. ...

Why???

All the cost of electricity and all the maintenance issues of a wet central heating system.
Get some new storage heaters if the existing ones need replacing.

HappyMJ

I have no idea why people install wet electric central heating. The best rate for you to be on is the best 24 hour rate you can find. Look for around 7.5p/kwh. Get off the E7 rate as it will cost you more during the daytime than a 24 hour rate. You can still keep the E7 meter but you will be billed the same rate for all units used.

Premier_2

HappyMJ wrote: »

I have no idea why people install wet electric central heating. The best rate for you to be on is the best 24 hour rate you can find. Look for around 7.5p/kwh. Get off the E7 rate as it will cost you more during the daytime than a 24 hour rate. You can still keep the E7 meter but you will be billed the same rate for all units used.

Oh yes please, but where could I get that magnificent deal from? :huh:

For the West Midlands area, the only supplier/tariff that I know that offers electricity at anywhere near that price is Scottish Power Online Energy Saver 12.

The single rate is 7.577p per kWh (after the initial higher tier 1 rate)

This compares to the 7.985p per kWh on E7 (after initial tier 1 rate) ... but of course that only applies for 17 hours per day (about 70%) whereas the remaining 7 hours (about 30%) will be over 50% less at just 3.711p per kWh :beer:

(Of course, if the OP were to get storage heaters then all the electricity they use will be all at this low price)

But the reason for my added confusion is that Scottish Power will not normally allow a customer to receive a single rate tariff whilst they have a dual rate meter. In fact they will charge to change the meter (about £45 iirc). I can't see anyone doing that this week ... especially as it's already Friday evening

But remember, unit prices are usually only part of the story too. I would always suggest people use a comparison site to see what is the best deal available, as they will show the total cost to the user. (but you won't find E10 tariffs on there as they are not generally available)

HappyMJ

That's the one 7.577p/kw plus standing charges. Change the meter if they want mine is digital just needs to be read twice. Everyone I've been with does not charge to change to a standard tariff. That's E-on, Npower, Ebico, and EDF. They don't like it but I change to an E7 tariff for the summer then back to a Standard tariff for the winter. Works out cheaper for me.

edit: It's probably because I claim poverty that they don't charge me or get too upset about it. If they refuse I leave. Just went through my Quidco account and I have also been with Scottish Power but it was only for 2 months. It was summer so I would have selected an E7 tariff then they must have refused to change to standard tariff so switched to EDF on a standard tariff. Doesn't matter I got £90 from quidco and they got £20 for 2 months electric. Their loss. Then I switched back to Npower this March onto an E7 tariff. Npower have since switched it to a standard tariff for this winter.

Former_E.ON_Company_Representative:_Malc

Emmy101 wrote: »

I moved into a property with no gas which had electric storage heaters on Economy 7. They were very old and the water boiler needed replacing, so I am having electric central heating (radiators) installed. It is a Heatrae Sadia boiler and I have been advised by the plumber to switch to an Economy 10 meter (as per the boiler manufacturer's advice.) I phoned Eon but they gave me the impression that this was not a good idea as there is not the option to change providers and apparently it costs more unless you are very careful. However I did get the impression the man didn't really know anything about it and I didn't feel well informed. Also I need it done this week! Do I need economy 10 or is it a bad idea? Help!

Hi Emmy

Thought it might help if I gave you a bit of background info on this type of meter.

Economy 10 meters are usually only installed at properties with storage and water heating.

They give 10 hours of lower off peak electricity per day. This is spread over three separate periods in the morning, afternoon and evening.

Economy 10 is a bit of a hybrid tariff and may not always be cost effective. It really depends on the individual circumstances as to the benefits of such an arrangement.

They tend to help customers who are constantly running out of hot water; or where the storage heaters are becoming cool by the evening. Economy 10 allows the water/heating to be boosted during the off peak periods throughout the day.

However, the cost of electricity used outside of the off peak times makes this arrangement prohibitive to many.

There are also wiring implications as the meter will need to be connected into the water/heating circuitry at the property. This may not always be possible and you will need to arrange for an independent electrician to check this out before proceeding.

Should you decide to go ahead, a new meter will need to be installed and there is currently a £50 charge for this work.

The agent you spoke to was correct in pointing out the drawbacks of this type of arrangement. As others have said, you will be limiting yourself to a very narrow choice of tariff alternatives, both with us and other suppliers.

I'm no expert, though, and would suggest you talk to our metering specialists about the advantages/disadvantages of such a set up before deciding to go ahead.

Sorry I can't offer more positive advice Emmy but hope this helps point you in the right direction.

Malc

Emmy101

Thanks. I know that wet central heating is in many ways not economical but I have chosen to go with it as the flat is above a cafe which has a huge log fire. This means it can be roasting or not heated at all, depending whether they're open/have lit it etc. The storage heaters I had previously were not flexible enough. Also I am at work all day and the heat from stroage heaters had always run out by the time I got home. I could put a boost on but I literally missed all of the heat stored during off-peak times, which somewhat negated their value. Although the new boiler is 9Kw, I am told the size of the flat (only 4 rads, 1 of which is likely to be off the majority of the time) means it won't be working full power full time, likely to use 5-6KW per hour max. The wet central heating is really a lifestyle choice, for convenience - I know this costs!!

Thanks for the advice. Have decided not to go Eco 10 as the times don't really suit me. Am sticking with current tariff for now though looking into Eco 7, which I think costs less than standard rate but can't find unit prices online anywhere!

Former_E.ON_Company_Representative:_Malc

Emmy101 wrote: »

Thanks for the advice. Have decided not to go Eco 10 as the times don't really suit me. Am sticking with current tariff for now though looking into Eco 7, which I think costs less than standard rate but can't find unit prices online anywhere!

Hi Emmy

Generally, for daytime usage, our Economy 7 prices are higher than a single rate tariff. However, night time usage is cheaper.

You can see the Economy 7 prices for your area on our website. They are on the Products and Services page under Prices and Discounts. Just type in your Post Code and it will show the prices applicable to the different tariffs.

For a fuller picture, pop your details on to one of the comparison sites. This will list out all the prices both with us and the other suppliers.

Hope this is useful Emmy. Give me a shout if I can help further as will be happy to do so.

Malc