Economy7 ??

beany

I'm sure this question has been asked before, but can anyone tell me if I am better with economy 7 or on the ordinary tarrif.
During the past 12 months we used 1663 units economy 7 and 4415 daytime units
Thanks

Grimbo_2

the nature of economy 7 is such that you pay a higher daytime rate to afford the cheaper nightime rate. Eco 7 is generally only used now for flats and such other places that have no gas supply and use storage heaters, washing machines etc etc all on timers that switch on during the night rate period.

You basically have to ask yourself do you run electric hungry appliances during the night rate such as heating and washing ? or does your central heating and/or cooker run off gas and you run most of your appliances in the day ? If the answer is yes to the first question then stick with Economy 7, if its yes to the second question then you will benefit from changing onto standard rates.

Cardew

It is really a matter of arithmetic to work it out. Just look at the tariff from your supplier for standard rates for the total consumption of 6078 units and compare it with the tariff for Economy 7.

I suspect that on the figures you give there will be very little difference in your bill on either system - the break even point for me is about 30% of total consumption on Economy 7 and you are just below that figure.

However without knowing exactly who your supplier is, and what part of UK you are in, it is not possible to give a definitive answer to your query.

silverlady_2

I have often wondered the same thing.
Two oldies in the house
Central heating gas but in the summer find it cheaper to use electric immersion heater for hot water on eco 7.
Gas hob but electric oven
Washing machine on time clock eco 7
Fridge and freezer must use both
Usual TV, PC etc

Is there some equation or percentage as it seems to me you need to use about 35 to 40 % on eco 7 before it pays, but I'm guessing.

silverlady_2

Thanks Cardew
Seems we posted at the same time.
You have answered my question, when I worked out the cost of eco 7 plus day rate and compared it with 'standard' rate it was a difference of about £7 over a full year so for me it doesn't make much difference.

Cardew

silverlady wrote:

Thanks Cardew
Seems we posted at the same time.
You have answered my question, when I worked out the cost of eco 7 plus day rate and compared it with 'standard' rate it was a difference of about £7 over a full year so for me it doesn't make much difference.

I was on Economy 7 and changed to standard. Even working at using as much at night as possible it was marginal; and frankly a bind! For instance we would put the dishwasher on at night when it wasn't full as there was not enough room in it for the next day's load.

Are you sure that Economy 7 for your immersion heater even at night rates is cheaper than gas? Gas is 1.6 -1.7p per KwH (all day)and off-peak electricity 2.7 - 2.8p per KwH. It is not a straight comparison as the efficiency of the gas boiler must be factored in; but for me gas was cheaper.

Cardew

I worked out the exact figures for Beany's consumption in the opening post and with my supplier - BG in the Midlands - he would be £17 pa better off remaining on Economy 7.

Incidentally I was surprised at the difference in Economy 7 night time rates from BG in the different regions. They ranged from 2.787p per unit in the South region to 3.724p per unit in North Scotland(both including VAT and paying by DD) a 34% differential.

Similar differences in Standard rates ranging between 6.036p per unit(East Midlands) and 7.351p per unit(South Wales) - again both including VAT and paying by DD. - a 22% differential.

ednotdave

How do you change from one to t'other? And is there a charge?

Gracias...

Cardew

ednotdave wrote:

How do you change from one to t'other? And is there a charge?

Gracias...

Simply ring your supplier and ask them to change.

There was a thread on this a while back.

I certainly wasn't charged when I discontinued Economy 7 and I retain both meters - they simply add the consumption obtained from both meters together and I pay all at the same rate.

I don't think they charge to go the other way and change to Economy 7.

Now say after me "Well done Chelsea" - that wasn't difficult was it?