I want truth about Economy 7 :)

MarcusAurelius

Hi,

Currently I don't have an Economy 7 plan.

I heard that the suppliers must offer Economy 7 when a customer asks to switch to E7.

Is that so? Does E7 require any additional equimpemt apart from a new meter?

Thank you.

tberry6686

I believe that not all suppliers do economy 7 so would not be able to switch you to an E7 tarriff. The suppliers that do offer them would have no problems switching you to one.

You would need a new meter and (probably) a time switch or radio switch to switch between peak and off peak power.

1st thing to check is if E7 is right for you. It is only suitable for a minority of people.

[Deleted User]

Eco 7 is suitable for an all electric supply only. Gas central heating beats any electric heating system . the day rate on eco 7 is abysmal so you would have to really make the most of the cheap 7 hours to make it pay.If you have gas supply in your house cancel your plans unless you are a night owl. 30 % night use of total usage is considered to be the amount needed to break even against a single rate meter

Cardew

sacsquacco wrote: »

Eco 7 is suitable for an all electric supply only. Gas central heating beats any electric heating system . the day rate on eco 7 is abysmal so you would have to really make the most of the cheap 7 hours to make it pay.If you have gas supply in your house cancel your plans unless you are a night owl. 30 % night use of total usage is considered to be the amount needed to break even against a single rate meter

The 'break even' point for total usage varies from company to company.


Although 30% was the normally quoted figure, currently(sorry!) it varies from 20% to over 40%.


I have both gas CH and E7, and E7 is marginally cheaper for me. Much depends if you get up early enough to take advantage of the cheaper electricity and do washing/drying/dishwashing overnight.


Some people on MSE with older gas boilers(with a pilot light) switch their boiler off in the summer and use the immersion heater on E7.

MarcusAurelius

Thanks.

Are the suppliers allowed to charge for the installation of the E7 meter? I thought E7 was a govt backed initiative that made it possible to have an E7 meter installed for free?

Bluebirdman_of_Alcathays

MarcusAurelius wrote: »

Thanks.

Are the suppliers allowed to charge for the installation of the E7 meter? I thought E7 was a govt backed initiative that made it possible to have an E7 meter installed for free?

No. E7 has nothing to do with the Government. If you want to change the metering set up in your house, you have to pay for it.

Unless you have an all electric property with night storage heaters, or are a particular night owl it's unlikely (but not impossible) that E7 will save you any money at all. The day rate is abysmal.

Bark01

Some suppliers don’t charge for a meter change and some suppliers do you’ll have to ring up and ask. EDF currently provide a meter swap for free, you may need to sign up as standard meter customer then request the switch.

[Deleted User]

Hi,

Marcus, have a look here for some info.

MarcusAurelius

Bluebirdman_of_Alcathays wrote: »

The day rate is abysmal.

Peak is only 15% higher than the standard rate with ovo.

Bluebirdman_of_Alcathays

MarcusAurelius wrote: »

Peak is only 15% higher than the standard rate with ovo.

And considering that I (like most people) don't use much energy at all between midnight and 7am, paying a 15% premium is pretty foolish.

By all means change over if you've costed it through thoroughly, but for most it would be an expensive mistake that would cost even more money to remedy.

wavelets

MarcusAurelius wrote: »

Peak is only 15% higher than the standard rate with ovo.

Where did you get that figure from??? :huh:

When I compare any region using their 12 month fixed rate cheaper energy tariff, the premium appears to be more like 8.5%-9%

http://www.ovoenergy.com/uploadedFiles/Content/Energy_Plans/Energy%20Rates_090414.pdf