Energy Price Cap for Economy 7 - what are the day and night RATES?

reallygreen

A friend has just been sent the details of her April 2022 rate changes. Her Economy 7 night rate has more than doubled (136% increase), resulting in her predicted overall bill increasing by 85%!

I've spent some time searching the web and I can't find anywhere that gives any detail of price cap rates for Economy 7.

Everywhere you look in the press online it just reiterates the maximum annual total for "average" consumption. 

The only place I have seen mention of price cap RATES is on the ofgem web site, and the more precise figures on the MSE web site ("what is the energy price cap") but this only covers single rate electricity.

Is there anywhere that documents what the price cap means for Economy 7 customers, and in particular what the day and night RATES should be?

My friend, who has to use electricity for heating, has gone through considerable hoops in the last couple of years to ensure that her day rate consumption is as low a percentage as possible. She has achieve the amazing figures of 17% day and 83% night. Now all her efforts appear to have been wasted by this increase in the night rate.

QrizB

Welcome to the forum.

reallygreen said:

I've spent some time searching the web and I can't find anywhere that gives any detail of price cap rates for Economy 7.

That's because there isn't one, as explained here. Rates can (and will) vary from supplier to supplier.

If you want an example of typical capped E7 rates, you can see EDF's rates from April here.

Other suppliers can choose other combinations of day and night rates; they don't have to use the same ones as EDF.

EssexHebridean

She’s with Utility Warehouse I take it? I think most of us were shocked at that percentage increase to the night rate, and unfortunately the more use you make of it, the more painful it is. 

Thanks @QrizB for that link to the EDF rates - I’m going to be doing some sums as I have a feeling we might be slightly better off on those. 

QrizB

EssexHebridean said:

She’s with Utility Warehouse I take it? I think most of us were shocked at that percentage increase to the night rate, and unfortunately the more use you make of it, the more painful it is. 

Thanks @QrizB for that link to the EDF rates - I’m going to be doing some sums as I have a feeling we might be slightly better off on those. 

bristolleedsfan has provided this link to Octopus's rates effective from April; their E7 night rates look to be higher than EDF's.

nappy501

reallygreen said:

A friend has just been sent the details of her April 2022 rate changes. Her Economy 7 night rate has more than doubled (136% increase), resulting in her predicted overall bill increasing by 85%!

I've spent some time searching the web and I can't find anywhere that gives any detail of price cap rates for Economy 7.

Everywhere you look in the press online it just reiterates the maximum annual total for "average" consumption. 

The only place I have seen mention of price cap RATES is on the ofgem web site, and the more precise figures on the MSE web site ("what is the energy price cap") but this only covers single rate electricity.

Is there anywhere that documents what the price cap means for Economy 7 customers, and in particular what the day and night RATES should be?

My friend, who has to use electricity for heating, has gone through considerable hoops in the last couple of years to ensure that her day rate consumption is as low a percentage as possible. She has achieve the amazing figures of 17% day and 83% night. Now all her efforts appear to have been wasted by this increase in the night rate.

I am also an Economy 7 user.  I am on a fixed rate, but I have just realised it runs out 18th April.  I would so like to know the unit rate.  It appears that the standing charge is the same for the standard and economy 7 rate.  I am with EON Next electricity standing charge is moving from 18.9p to 48.61p and the gas standing charge is going from 17.43p to 27.22p.

I am particularly interested in how she manages to get 83% on the night rate?  Would love a list of what she does.  In particular, does she have a fridge and freezer?

QrizB

nappy501 said:

I am also an Economy 7 user.  I am on a fixed rate, but I have just realised it runs out 18th April.  I would so like to know the unit rate.  It appears that the standing charge is the same for the standard and economy 7 rate.  I am with EON Next electricity standing charge is moving from 18.9p to 48.61p and the gas standing charge is going from 17.43p to 27.22p.

You'll have to wait until E.ON Next update https://www.eonnext.com/tariff-search with the new rates. (The webpage says they already have, but so far as I can tell they haven't.)

Gerry1

QrizB said:

nappy501 said:

I am also an Economy 7 user.  I am on a fixed rate, but I have just realised it runs out 18th April.  I would so like to know the unit rate.  It appears that the standing charge is the same for the standard and economy 7 rate.  I am with EON Next electricity standing charge is moving from 18.9p to 48.61p and the gas standing charge is going from 17.43p to 27.22p.

You'll have to wait until E.ON Next update https://www.eonnext.com/tariff-search with the new rates. (The webpage says they already have, but so far as I can tell they haven't.)

Their incompetence almost matches that of EDF !  Don't think the Ombudsman and the Advertising Standards Authority would be very impressed.

EssexHebridean

QrizB said:

EssexHebridean said:

She’s with Utility Warehouse I take it? I think most of us were shocked at that percentage increase to the night rate, and unfortunately the more use you make of it, the more painful it is. 

Thanks @QrizB for that link to the EDF rates - I’m going to be doing some sums as I have a feeling we might be slightly better off on those. 

bristolleedsfan has provided this link to Octopus's rates effective from April; their E7 night rates look to be higher than EDF's.

Sadly Octopus have never been economic for us - which is a shame because they appear to be a decent company to deal with. 

Too add some further info into the mix, in the Eastern region, Utility Warehouse’s E7 rates are:
SC 36.24p.   Day 34.34p.    Night 17.65p
On our usage the EDF Standard Variable would work out very slightly cheaper as long as we can maintain - or improve on - our 25%/75% split - not inconceivable by any means. 

Can anyone confirm if EDF offer a dual fuel discount? I’ve been unable to get a conclusive up to date confirmation on this. 

I think I need to do some more sums relating specifically to the April > October (summer) period and see how that looks.