Changing from Economy 7

CashStrapped

Thats what I thought.

Whoever removed the stoage heaters made an error.

With that setup a switch to single rate and paying out of the contract may bethe best option.

For my area the best e7 tariff with 15% night use comes up as costing £577 annually assuming a annual KWH use of 5200KWH.

For the same usage the best single rate tariff comes in at £552.

So in reality there is not much of a difference (which is a lower saving than I thought there would be).

That is based on being on the best tariff in each case however. You need to test against your EE tariff specifically.

Taking into account the leaving penalties from EE, if you do the same for your area, you can work out if it is worth a switch. Knowing your annual KWH use will help alot. The higher the usage,the higher the saving I would expect.

NorskMann

Will Extra Energy not offer the ability to have your meter swapped to a single rate tariff meter? I'm not too sure who their MOP is, but normally this can be done for under £100.00.

Not too sure if this would be more than if leaving to a Big Six firm who might offer a free meter swap, but bear in mind some Big Six providers can offer a Single Rate Tariff on an E7 meter, while most small providers can't.

cranford

I have a E7 meter and have recently changed to Avro Energy(no exit fee) who use a single rate for both readings. I am paying 10% less for Electricity than I was under my previous big 6 fixed deal. I believe there are other companies that use a single rate for E7. I like the freedom It gives me from the fixed 7 hours so I dont need to use the tumble dryer anymore when I am asleep.

middletom

Thanks, I'll investigate Avro.

middletom

Interesting calculation - maybe there will not be as much difference as I thought. Thanks.

middletom

EE say they are too small to be able to change the meter, and will not allow us to switch to a single tariff.

middletom

From summary of final report:

Remedies for customers on restricted meters

242. We believe that the above remedies will help customers on any meter type engage effectively in retail energy markets. Further, to address the specific problems faced by customers on restricted meters in shopping around for better deals and in switching, we have decided on a set of additional remedies that: require all suppliers to make all their single-rate tariffs available to any domestic customer on any type of restricted meter, without making switching conditional on a restricted meter being replaced; and ensure that domestic customers on restricted meters have access to information on the options available to them.

footyguy

middletom wrote: »

From summary of final report:

Remedies for customers on restricted meters

242. We believe that the above remedies will help customers on any meter type engage effectively in retail energy markets. Further, to address the specific problems faced by customers on restricted meters in shopping around for better deals and in switching, we have decided on a set of additional remedies that: require all suppliers to make all their single-rate tariffs available to any domestic customer on any type of restricted meter, without making switching conditional on a restricted meter being replaced; and ensure that domestic customers on restricted meters have access to information on the options available to them.

Context

Customers on restricted meters

148. Restricted meters include any metering arrangement whereby a domestic customer’s consumption at certain times and, in some cases, for certain purposes (for example, heating) is separately recorded. These meters allow for customers to be charged lower rates for electricity used at times when overall demand is lower.

149. There are currently over 4 million restricted meters (around 17% of all customer accounts) of which around 700,000 (about 2% of all customer accounts) are non-Economy 7 restricted meters. Our analysis has focused on the position of non-Economy 7 restricted meters, about which we have heard specific concerns (and henceforth refer to this group as ‘customers on restricted meters’ unless otherwise specified).

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/531157/Energy-final-report-summary.pdf
(My highlighting.)