Economy 7 Help Please!!!

Crispy796

I need help from anyone who knows about Economy 7.

My home has economy 7 fitted at the moment. It doesn't have storage heaters. So should i change my meter?.

I have a friend at work who changed his meter from an economy 7 system to a standard one reading system, and he says it has saved him loads of money (when i quizzed him how much he said he wasn't sure how much but he thought it was a lot!)

I try to set as many appliances on timers to run between 1am and 5am (washing machine, dishwasher, phone chargers etc) and according to my latest bill, 1 out of 5 units of electricity used was at the night rate.

I used 5564kWh last year in total according to my supplier.

Thanks,

:hello:

Cardew

At 20% off-peak usage you probably won't be saving any money. However how much extra you are paying depends on the Utility company and the tariff.

On some Scottish power tariffs you can just about break even with 20% usage, but on most you will be paying extra.

Go to a comparison website www.energyhelpline.com enter your tariff and 20% for E7 usage of the 5564kWh, and then do the same without being on E7 and compare

espresso

Crispy796 wrote: »

I need help from anyone who knows about Economy 7.

My home has economy 7 fitted at the moment. It doesn't have storage heaters. So should i change my meter?.

I have a friend at work who changed his meter from an economy 7 system to a standard one reading system, and he says it has saved him loads of money (when i quizzed him how much he said he wasn't sure how much but he thought it was a lot!)

I try to set as many appliances on timers to run between 1am and 5am (washing machine, dishwasher, phone chargers etc) and according to my latest bill, 1 out of 5 units of electricity used was at the night rate.

I used 5564kWh last year in total according to my supplier.

Thanks,

:hello:

Assuming that your location is Kent from your profile, can you give us your supplier and tariff details? You may be surprised how many night units that you need to use just to break even and the seventeen hours of day units are likely to cost you more.

footyguy

Crispy796 wrote: »

I need help from anyone who knows about Economy 7.

My home has economy 7 fitted at the moment. It doesn't have storage heaters. So should i change my meter?.

I have a friend at work who changed his meter from an economy 7 system to a standard one reading system, and he says it has saved him loads of money (when i quizzed him how much he said he wasn't sure how much but he thought it was a lot!)

I try to set as many appliances on timers to run between 1am and 5am (washing machine, dishwasher, phone chargers etc) and according to my latest bill, 1 out of 5 units of electricity used was at the night rate.

I used 5564kWh last year in total according to my supplier.

Thanks,

:hello:

Run your figures through any comparison site a couple of times and see if you will save anything.

It doesn't matter what supplier & tariff you put in as your current, just do one run as an E7 customer & another as a single rate tariff customer) and compare the annual costs of the best offerings

Remember to allow a possible charge of about £50 if you decide to change and need a new meter as a result.

footyguy

I've just done the comparison for you, and iSupply come up the cheapest supplier for you on their iFix tariff.

E7 for your usage and the Seeboard supply region would cost £14 a year extra (not including the cost of any meter change).
Or less than 4p a day :cool:

Source: energyhelpline

espresso

footyguy wrote: »

I've just done the comparison for you, and iSupply come up the cheapest supplier for you on their iFix tariff.

E7 for your usage and the Seeboard supply region would cost £14 a year extra (not including the cost of any meter change).
Or less than 4p a day :cool:

You don't know what percentage of night units the OP uses, so you don't know what the best tariff is!

Crispy796

Thanks,

I have tried to input different situations into the comparison sites (economy 7 and normal) and I see a small saving for keeping with economy 7. - not much though!

I presume once you change from economy 7, you couldn't go back?! or at the very least it would be an extra £50+ to change the meter again (my supplier would change the meter Free but has said they no longer fit Economy 7 meters at all so they wouldn't be able to switch back)

I just wondered if anyone had done this switch and found it good/bad?

:T

Cardew

I am on a Scottish Power fixed tariff(now no longer available) and use approx. 25% on off-peak and it is slightly cheaper than a 24/7 tariff.

At 20% the position is reversed but only by a couple of pounds.

Cardew

espresso wrote: »

You don't know what percentage of night units the OP uses, so you don't know what the best tariff is!

You missed this from the OP's post??

according to my latest bill, 1 out of 5 units of electricity used was at the night rate.

I used 5564kWh last year in total according to my supplier.

Crispy796

FYI...

I'm on Scotish Power 'Online Fixed Price Energy January 2014' tariff - will need to change soon!

Between 12th May and 12th August I used 858kWh daytime units and 222kWh nightime units.

Crispy796

Cardew wrote: »

I am on a Scottish Power fixed tariff(now no longer available) and use approx. 25% on off-peak and it is slightly cheaper than a 24/7 tariff.

At 20% the position is reversed but only by a couple of pounds.

I found the same but it's not so clear if you look at tariffs you can switch to now!