Economy 7 vs rate 1 tariffs

rowly731

Hi everyone

we are with Npower and last month transfered onto their fixed rate "Go fix 6" tariff. We also installed central heating and removed our night storage heaters. We intended to have our dual tariff meter removed to move onto a single rate meter. This is being done on Monday but I'm just wondering if I am doing the right thing.

We both work during the day during the week and could use the washing machine overnight. I was wondering how economy 7 tariffs work and at what point do they become more cost effecient than a single tariff.

Many thanks in advance

Airmike23

Yes, if both water and heating are being done by gas there is no benefit to be charged a day and night rate, as you will almost certainly use less than 30% of total electric in the night read.

NittyGritty

hi we are on eco 7, our night rates start at 11pm till 8am next morning, but it will be diffrent depending on which area you are in i would of thought anything used before or after those times revert back to day time rates,

not sure if thats any help to you, you just need to ring ur company and ask them what times the night rates start from.so you know you will be using the night rates n not the full day rates

we only use electric tho, we dont have gas

macman

Typically you need to use 33% of your units on cheap rate to make E7 work-for most people (not all) that means using night storage heaters, or leading a very nocturnal lifestyle.
Running the washing machine during the small hours (your neigbours may not appreciate that) is unlikely to help you very much to achieve that 33%. The big consumers are heating and hot water, both of which you will now get from your gas CH system.
It's not always necessary to have the meter changed, some suppliers will combine the dual rate readings. In your case, it all seeks a bit academic now since you've booked the meter change. You'll probably something, but not necessarily a lot.