Economy 7 from April 2022

Sterlingtimes

I thought that the variable/flexible tariffs from April 2022 would result in price parity.

This may not be the case.

My mother is age 93 and lives in a one-bedroom flat within a residential complex for older people. She has storage heaters and uses annually 665 kWh in the day and 5268 kWh at night.
 
E.ON Economy 7 prices including VAT
Day 665 x 0.3315 = 220.44
Night 5268 x 0.1669 = 879.23
Standing charge 48.31 x 365 = 175.97
TOTAL £1,275.64

Octopus Economy 7 prices including VAT
Day 665 x 0.2992 = 198.97
Night 5268 x 0.2139 = 1126.83
Standing charge 4792 x 365 = 174.91
TOTAL £1,500.71

So there is not too much "love and power" here from Octopus for very old people.

The switching sites are not playing ball with switchers at the moment. Would any supplier be better than E.ON in these circumstances?

P.S. E.ON night rate is 50% of the day rate but Octopus night rate is 72% of the day rate. Octopus appears to be moving away from time of day pricing except for owners of electric cars.

MattMattMattUK

Sterlingtimes said:

I thought that the variable/flexible tariffs from April 2022 would result in price parity.

This may not be the case.

My mother is age 93 and lives in a one-bedroom flat within a residential complex for older people. She has storage heaters and uses annually 665 kWh in the day and 5268 kWh at night.
 
E.ON Economy 7 prices including VAT
Day 665 x 0.3315 = 220.44
Night 5268 x 0.1669 = 879.23
Standing charge 48.31 x 365 = 175.97
TOTAL £1,275.64

Octopus Economy 7 prices including VAT
Day 665 x 0.2992 = 198.97
Night 5268 x 0.2139 = 1126.83
Standing charge 4792 x 365 = 174.91
TOTAL £1,500.71

So there is not too much "love and power" here from Octopus for very old people.

The switching sites are not playing ball with switchers at the moment. Would any supplier be better than E.ON in these circumstances?

P.S. E.ON night rate is 50% of the day rate but Octopus night rate is 72% of the day rate. Octopus appears to be moving away from time of day pricing except for owners of electric cars.

This is not age related, the fact that your mother is on E7 does not mean that it is related to older people.

You probably will not find one better than the EON option at the moment, though the different suppliers are reaching the E7 cap in different ways and so for many it will depend on their exact split of Day/Night usage. Long term we will probably all be on ToU tariffs, though that is probably five years away. 

MWT

Sterlingtimes said:

I thought that the variable/flexible tariffs from April 2022 would result in price parity...

With E7 the capped tariff assumes the split as 58/42% day night, so it is up to the supplier to price the day/night units in a way that does not exceed the cap at that percentage split, so all suppliers will have a similar charge right now if your use is close to that percentage.

Sterlingtimes said:

So there is not too much "love and power" here from Octopus for very old people.

It has nothing to do with age, and everything to do with not trying to attract people at the extreme end of the curve.

Your mother used 89% of her energy at the low rate which makes her a rather extreme example of E7 use and not one that Octopus would find attractive.

Each supplier is going to set their own tolerance for just how far away from the 58/42 split they want to go and clearly E.ON are prepared to go further than Octopus.

It certainly isn't a judgement on age but on use pattern.