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Economy 7

edited 30 November -1 at 1:00AM in Energy
13 replies 7.5K views
Legacy_userLegacy_user
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MoneySaving Newbie
edited 30 November -1 at 1:00AM in Energy
Does anybody know how many units of electricity one must use to save money on Economy 7 at night time? thanks
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Replies

  • sabelusabelu Forumite
    1.1K posts
    Part of the Furniture 500 Posts Combo Breaker
    ✭✭✭
    1 unit is about five times cheaper I believe
    It pays to challenge
  • FastflysFastflys Forumite
    344 posts
    Hi Juanita,

    Not sure but I believe that your night time use should be at least 20% of your day time use to make Economy 7 worthwhile.
    ;)Do It To Them Before They Do It To You ;)
  • silverlady_2silverlady_2 Forumite
    181 posts
    Don't forget you can increase your night time use with the use of cheap plug in time clocks I use my washing machine, tumble dryer,dish washer etc during the night.
  • Crayola_3Crayola_3 Forumite
    17 posts
    although u get a cheaper rate during the night, your day rate is higher than that of a standard meter

    you need to be using at least 60% of your total consumption during night (any 7 hours between 7 n 7 i think)

    ;)
  • FastflysFastflys Forumite
    344 posts
    although u get a cheaper rate during the night, your day rate is higher than that of a standard meter

    you need to be using at least 60% of your total consumption during night (any 7 hours between 7 n 7 i think)

    ;)

    Not so.

    I’m on Economy 7 and have calculated my last bill’s consumption using London Energy’s Standard and Economy 7 tariffs.

    Total consumption = 965 units
    Day units = 781
    Night units = 184 [23.56% of day rate]


    London Energy’s Standard tariff

    10.96 pence first 225 units
    6.69 pence the rest

    Consumption charge = £74.17


    London Energy’s Economy 7 tariff

    12.05 pence first 225 units
    7.23 pence rest of day units
    2.84 pence night units

    Consumption charge = £72.55……………. £1.62 cheaper.


    As I posted above…… Your night time use should be at least 20% of your day time use to make Economy 7 worthwhile.


    Unless I've missed something :-/
    ;)Do It To Them Before They Do It To You ;)
  • SmartasssSmartasss Forumite
    873 posts
    Hi Fastflys
    Unless I've missed something

    There is another element.

    The standing charge for Economy 7 is usually higher than the charge for just having a single rate supply - though your own personal tariff may be a 'no standing charge' one.
  • Crayola_3Crayola_3 Forumite
    17 posts

    Not so.

    I’m on Economy 7 and have calculated my last bill’s consumption using London Energy’s Standard and Economy 7 tariffs.

    Total consumption = 965 units
    Day units = 781
    Night units = 184 [23.56% of day rate]


    London Energy’s Standard tariff

    10.96 pence first 225 units
    6.69 pence the rest

    Consumption charge = £74.17


    London Energy’s Economy 7 tariff

    12.05 pence first 225 units
    7.23 pence rest of day units
    2.84 pence night units

    Consumption charge = £72.55…………….  £1.62 cheaper.


    As I posted above…… Your night time use should be at least 20% of your day time use to make Economy 7 worthwhile.


    Unless I've missed something  :-/





    your units on the standard meter would work out at £63.36

    making your Economy 7 meter more expensive by £9.19

    am pretty sure your night rate has to be 60% of your total elec usage

    ;)
  • FastflysFastflys Forumite
    344 posts


    your units on the standard meter would work out at £63.36

    making your Economy 7 meter more expensive by £9.19

    am pretty sure your night rate has to be 60% of your total elec usage

    ;)


    Crayola, your calculation is incorrect.


    London Energy’s Standard Tariff

    Total units = 965

    225 @ 10.96 pence = £24.66
    740 @ 6.69 pence = £49.51

    Total charge = £74.17
    ;)Do It To Them Before They Do It To You ;)
  • Crayola_3Crayola_3 Forumite
    17 posts
    sorry - didnt account for your night usage

    :o

    ur totally right and i am just thick and shall go bow my head in shame

    ;)
  • FastflysFastflys Forumite
    344 posts
    Hi Smartasss

    Yes, London Energy tariffs are “No standing charge” ones.

    I’ve been on Economy 7 for 10 years. In that time I have been a customer of Eastern Electricity, Independent Energy, London Energy, PowerGen, Atlantic E & G etc., etc.
    Most with a Standing Charge built into their Standard and Economy 7 tariffs.

    In all cases Economy 7 has proved slightly cheaper for me.

    I would however not recommend that anyone on a Standard meter change to Economy 7 if their ratio of day/night units are similar to mine [23.56%]. The saving per year does not in my opinion warrant it.

    The original post by Juanita Ping asks how much electricity has to be used at night to make Economy 7 worthwhile?

    I still stand by my original post – No less than 20% of your day time use.
    ;)Do It To Them Before They Do It To You ;)
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