Economy 7 - is it worth it?

gph73

We're currently on an Economy 7 tariff (EDF Blue+ Sept13), which is soon to come to an end.

I'm not sure whether we should change to a normal tariff however, as we only use between 25-30% of our electricity during the night. And this is after we've made a concerted effort to put the washer, dryer and dishwasher on during E7 hours. There's nothing left for us to run at the cheap rate.

I think I've read that you need to use about 50% of your elec at night in order to benefit from E7, but when I use the price comparitors, they don't seem to find anything that is cheaper.

Does anyone have any advice? In particular, can anyone recommend a comparison site that will actually tell you if you should move from E7 to a normal tariff? The one's I've seen tend to compare E7 with E7, and not across different tariffs.

Thanks Moneysavers!

notbritishgas

gph73 wrote: »

We're currently on an Economy 7 tariff (EDF Blue+ Sept13), which is soon to come to an end.

I'm not sure whether we should change to a normal tariff however, as we only use between 25-30% of our electricity during the night. And this is after we've made a concerted effort to put the washer, dryer and dishwasher on during E7 hours. There's nothing left for us to run at the cheap rate.

I think I've read that you need to use about 50% of your elec at night in order to benefit from E7, but when I use the price comparitors, they don't seem to find anything that is cheaper.

Does anyone have any advice? In particular, can anyone recommend a comparison site that will actually tell you if you should move from E7 to a normal tariff? The one's I've seen tend to compare E7 with E7, and not across different tariffs.

Thanks Moneysavers!

The % to break even or gain will depend on each suppliers tariff, you may be just about breaking even.

To find out go on a comparison site, I always use energyhelpline, and put in your E7 figures using EDF blue as the tariff. It will tell you your current annual spend.
Then go on again but this time do not put in as E7 but add together your day and night totals and enter as a normal tariff. Then check the current annual cost and compare with the E7 figure.

Richie-from-the-Boro

we only use between 25-30% of our electricity during the night

- that's a good enough quantity depending on your supplier and tariff

There's nothing left for us to run at the cheap rate

- what ? you never heat your home and never heat your water ?

I've read that you need to use about 50% of your elec at night in order to benefit

- bunkum, I don't know anyone with a 50%+ figure, someone is telling porkies

Does anyone have any advice?

- yes - begin by telling the group the most important thing, how do you heat your home and how you heat your hot water
- then tell the group how many kW you use per year in (1) core rate and (2) cheap rate
- then tell the group your current supplier and tariff so the comparison can be made
- then we can help - best of luck !

AndyPK

It's only worth it if you have night storage heaters.

Your paying more for your day rate.

Broadwood

gph73 wrote: »

We're currently on an Economy 7 tariff (EDF Blue+ Sept13), which is soon to come to an end.

I'm not sure whether we should change to a normal tariff however, as we only use between 25-30% of our electricity during the night. And this is after we've made a concerted effort to put the washer, dryer and dishwasher on during E7 hours. There's nothing left for us to run at the cheap rate.

I think I've read that you need to use about 50% of your elec at night in order to benefit from E7, but when I use the price comparitors, they don't seem to find anything that is cheaper.

Does anyone have any advice? In particular, can anyone recommend a comparison site that will actually tell you if you should move from E7 to a normal tariff? The one's I've seen tend to compare E7 with E7, and not across different tariffs.

Thanks Moneysavers!

We've lived here in a 2 bedroomed bungalow since 1986 and it already had an Economy 7 meter installed so we decided to keep it and see if we could adapt to it. I installed a timer on the immersion heater and we complemented the gas central heating with (all on timers) 2 electric skirting-board panel heaters in the bedrooms and one large panel heater in the lounge. All timed to switch off just before the tariff change at 7am GMT. Four lights are on continuously from dusk til bedtime all year round and these are all LED bulbs of various types. The tv is probably on for about 6 hours a day and the pc for about 3 hours. Wife refuses to do washing and drying during cheap rate hours but we still manage to use over 50% of our electricity between midnight and 7am GMT.

Our analogue E7 meter was faulty and replaced in 1999 by a refurbished Siemens digital radio telemeter type S2S-700A. The MEB hung a card by it with the date and old and new readings on installation, so I know exactly what we have used in the last 13 years & 8 months since. Roughly night use 28000 kWh......day use 24000 kWh. Call that 5000 days/nights. That's about 54% cheap rate use. If my maths are right that works out as an average of 4.8 kWh per day plus 5.6 kWh per night or a total average of 10.4 kWh per 24 hour period over the last 14(ish) years. We've only had the LED bulbs for the last couple of years (same applies to LCD tv & PC screens) so our present usage is probably less than it was previously.

I'd be interested to know how we compare with other people's usage in a similar sized property with 2 adults residing. Electric cooker and kettle forgot to say.

I annually check to see if Economy 7 is still worth keeping and it always has been for us. We're on Atlantic E7 online tariff.

Hope this helps.;)

yangptangkipperbang

AndyPK wrote: »

It's only worth it if you have night storage heaters.

Not often so, I'm afraid.

I use E7 only for water heating at night. I am quids in by doing that. My apartment is well insulated so what heat I use (not much) is day rate.
Many suppliers say that 20% of total use at night rate starts to save the consumer money.

Richie-from-the-Boro

There are many here who have an E-tariff designed for night store heating of space & water. Many others such as Broadwood in #5 manage to benefit from an E-tariff with no storage whatsoever. Those who benefit most will be those who store most heat at cheap-rate night and release that heat during the expensive core-rate day.

gph73 has yet to declare whether s/he has gas heated space & water or a night storage system. All heating costs should be calculated as an annual cost ÷ 12 or whatever. Clearly at this time of the year very little night cheap rate use skews peoples thoughts on their tariff and use. Think back to last winter however, and unless you have gas central heating the reality of paying 60% less for your room heat & boiling water is a not to be ignored benefit.

Annual cost ÷ 12

marmitepotato

I concur with broadwood, I just save loads with my e7 metre. All my washing and dish washing, is done on night rate. All the vacuuming and ironing also on night rate. I make my own bread and that also goes in the oven before 7am. This summer I had 8 kilos of blackcurrants which I turned into jam, all done before the metre clicks over to day rate. I don't have an immersion heater, nor do I have storage heaters. Some quarters my night consumption is about the same as my day comsumption, but about a third of the price. It's about what's right for you in the end OP. I know we would never change to an ordinary meter, it would cost us too much!

AndyPK

You do your vacuuming at nite? Lol.

Neighbours must love u! Or think your mad.

marmitepotato

AndyPK wrote: »

You do your vacuuming at nite? Lol.

Neighbours must love u! Or think your mad.

In the morning! Only have one neighbour and they are off to work at six. I wouldn't dream of disturbing them if they were in.

gph73

Thanks everyone.

I should have said that our water and c/h is gas.

In the last 12 months we used 4835 Kwh. 27% at the cheap rate.

Currently on EDF Blue + September 2013, E7.