Economy 7 help

Gemzie555

We have just bought our first flat and have economy 7. The first thing I did was swap to Octopus for a fixed rate. They told me we only get eco7 for heating and hot water. We have ripped out all of the storage heaters so currently have no heating. 
But I am confused... does this mean that if I use the washing machine, tumble dryer, tv, lights, kettle etc. during off peak hours that I will be charged standard day rate, or do all electrical devices use the eco7 rate? 
Trying to determine whether eco7 is going to work out too costly for us. Although Octopus have said if we change to standard rate it will work out roughly the same price.

Torry_Quine

All  devices will be at the E7 rate. Depending on the times it can be very useful. 

Robin9

@Gemzie555

Why have you ripped out the storage heaters ? What are your long term intentions for your heating ?  I do hope you are not considering panel heaters filled with magic dust ?

Robin9

@Gemmzie

Do read your meter regularly - every day for a while - and get a picture of your consumption. Then you can do your own sums

EDit - if you have any problems reading your meters do give us details. On modern meters watch out for the decimal point !

Reed_Richards

This web page has lots of useful information on Economy 7 https://www.cse.org.uk/advice/advice-and-support/economy-7

Gerry1

Sounds like an expensive mistake if the flat is all-electric and you have ripped out all the storage heaters.

Tallerdave

Gemzie555 said:

We have ripped out all of the storage heaters so currently have no heating.

Errr, what did that achieve, other than devaluing the flat?

Gerry1

Reed_Richards said:

This web page has lots of useful information on Economy 7 https://www.cse.org.uk/advice/advice-and-support/economy-7

"With Economy 7, the electricity you use at night costs about a third of the price of the electricity you use during the day – a big difference."

Which planet are they on?  Historically that's never been the case, nor is it today apart from a few niche EV tariffs and they're not E7 anyway.

macman

What are you intending to replace the NSH's with? If you are planning for convectors, then expect much bigger heating bils, and you may need to change the meter to a single rate one.
You'll now be paying peak rate (day) for all your usage except the immersion heater, assuming that's wired to a cheap night rate on the E7 meter.
It's not easyto make E7 worthwhile without NSH's as well, but it's not impossible, depending on tariff. The old benchmark used to be that you need to use at least 33%of your total units on night rate.