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Economy 7 Metre - basic question

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hshen
hshen Posts: 109 Forumite
Hi,

I have a very basic questions which I might have worked out the answer to but wanted a definitive answer!

I have just moved into a new property with economy 7 meters pre-installed. When I signed up with EDF I made sure I was on an economy 7 tariff.

The meter itself has 2 readings. One labelled normal and another labelled low. Below it is a timer with a label 23:30 - 6:30.

My assumption is that the timer will switch the meter to low for the period of 23:30 - 6:30 each night. And all my appliances will run off low during that period. Outside that period, all my applicance will run off the normal tariff. i.e. there is no separate wiring for normal and low usage, it's all controlled at the metre based on the timer.

Is my understanding correct?

Thanks. :)

Comments

  • mattcanary
    mattcanary Posts: 4,420 Forumite
    Yes, except that the clock on the timeswitch does not adjust when the clocks change. That means the cheap prices will be between 12.30 and 7.30 in the summer
  • hshen
    hshen Posts: 109 Forumite
    mattcanary wrote: »
    Yes, except that the clock on the timeswitch does not adjust when the clocks change. That means the cheap prices will be between 12.30 and 7.30 in the summer

    Thanks for the clarification!
  • And if your circumstances change and you find you do not use enough electric at night, then it would be cheaper for you to go onto a single rate.
  • hshen
    hshen Posts: 109 Forumite
    pothole50 wrote: »
    And if your circumstances change and you find you do not use enough electric at night, then it would be cheaper for you to go onto a single rate.

    I have 2 storage heaters which I heat up during night. And the water boiler is usually turned on over night.

    What's the rough % to make economy 7 worthwhile?
  • hshen wrote: »
    I have 2 storage heaters which I heat up during night. And the water boiler is usually turned on over night.

    What's the rough % to make economy 7 worthwhile?

    I was told by british gas to make ECO7 pay then use 40% of electric at night, if you have storage heaters then I think you are on the right tariff.
  • hshen wrote: »
    I have 2 storage heaters which I heat up during night. And the water boiler is usually turned on over night.

    What's the rough % to make economy 7 worthwhile?

    I was told by british gas to make ECO7 pay then use 40% of electric at night, if you have storage heaters then I think you are on the right tariff.
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