Replacing old storage heaters

AliceBanned

I recently bought a modest sized two -bed flat with electric supply only. It was a concern prior to buying but the location and everything else were perfect so I decided to go for it. I also factored the outdated heating in when I put in an offer and was pleased with the acceptance price. It was just as the stamp duty holiday began and the couple were making a big saving when buying a house, so took a lower offer (£265k asking price, £237k my offer). I mention this as there may be some leeway for work to be done to update.
The flat has storage heaters from around 1993 when the flat was built, and my first bill from E.On on Economy 10 came back at £65 for just 3 weeks. This seems excessive (just me living here)  so I've looked into this further and found that the old storage heaters, though on a cheap tariff, are on to store all night (no timer option) and also leak a lot of that out from the start and through the day. 
The positive side is that the flat has very good insulation and double glazing, no draughts at all and is top floor in a 3-storey block with good loft insulation. So I won't need as much heating as I needed in my previous more draughty flat. I did get some advice on MSE prior to buying with many saying that modern electric is ok, sometimes better option for flats but opinion varies on this quite a bit. When I had the heaters on more it was cosy, but that was before I saw what I was paying!  I now realise it is a priority to modernise the heating and make it more energy efficient, given the cost of electricity. Would I be better on a single or dual tariff (E7), with new storage heaters? on E10 I have to pay 2 standing charges coming to 55p a day! E7 just one standing charge of 25-28p with most of the big six. Plus of course the immersion is electric and that is an expensive way to heat water, so I've reduced the timer on that so that I don't heat up excessive hot water and don't use it. 
Also the previous owner told me that they only used one of the storage heaters, to heat the whole flat by leaving the living room door open. She didn't say there might be something wrong with the other storage heater, but I think so so I've switched it off to gauge what my bills will then be. It seems crazy to me that they heated the flat in this way, but since moving in I realise the storage heater in the corridor seems to go berzerk and be on at all hours, so I've switched it off at the wall. One of the controls on it seems to be broken. Their bills didn't look too bad and its EPC rating is C so when I got this information from the solicitor I thought electric is not preferable to me but not too bad.

Any advice welcome. I'm new to dual tariffs but it is starting to make some sense..just need to decide do I go for single tariff and change to electric radiators, or just upgrade the storage heaters to save energy? I am slightly colder than I used to be..but I realise to keep the place cosy warm it would cost too much, especially as I am working from home five days a week at the moment (probably back to 3 days a week post Covid). Thanks for any advice. 

Le_Kirk

I don't understand why you have two daily standing charges (on a separate subject I don't know how energy companies get way with any standing charge).  I have Economy 7 (with Octopus) and I pay one standing charge per day (£0.22).  Is your immersion on Economy 7 also, might be worth looking at.  Is it a double immersion, i.e. a long one for night use and a short one for top up?  Look very carefully at replacement storage heaters as there are some that don't get good reviews and there are several threads on here about some.  The best ones are those where you can set times and temperatures for different times of the day and different days (including a week-end versus week-day).  This means you can regulate what time you switch on and off the off peak and, more importantly, the peak.  Some of the latest ones have a thermometer that you mount on a wall near the radiator and it detects the temperature at night and decides how much charge to put into the storage bricks.

AliceBanned

Thanks Le Kirk that’s very helpful. I found out when I spoke to Octopus to get a quote, that there are 2 standing charges with Economy 10!! Then I looked at my E.on bill and saw that. Economy 10 is bit of a rip off I think. Sounds like upgrading the storage heaters and moving to Economy 7 would be better perhaps. If I use daytime energy for heating it is only needed for ten minutes or so. Though I’ve not experienced flat in depths of a cold winter yet. The bathroom just has a very old fashioned wall fan heater but I’ve never needed it so far.
yes it’s double immersion. I’ll check it’s set up correctly. I have an electrician coming over on Fri to advise and check current heaters and quote for lighting upgrade too. That’s for aesthetics but I’m definitely going to get LEDs and focus on economy. Electrician said elec heating will always be more than gas. But I’ve been quoted £111 per month and that sounds wrong. I don’t yet know my energy usage so it’s hard to get accurate direct debit.

Hasbeen

OP.
Perhaps posting in the dedicated Energy forum. Where there is discussions  about storage radiators would get more advice?

Click on the big black Energy button.

AliceBanned

Thanks Hasbeen will do!