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Economy 7 phasing out

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I posted something here more than a couple months ago, when asking about mixergy heaters, and if it's worth it. 

At the time, I was basically betting on economy 7 tariffs being phased out, given the rise of EV cars and therefore needing something to use at night, and therefore adding to demand during what was traditionally off peak 

Whilst I was wrong for the reasons for it being phased out, it appears I was correct in betting on that it will be phased out

https://www.checkatrade.com/blog/cost-guides/storage-heating-costs/

Just something to be aware of. 
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  • BUFF
    BUFF Posts: 2,185 Forumite
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    SSE have been saying  for a while that they would be stopping supporting multiple meter tariffs e.g. https://sse.co.uk/help/electric-heating/one-meter-two-rates & https://sse.co.uk/help/electric-heating/other-two-meter-tariffs.
  • paul991
    paul991 Posts: 370 Forumite
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    economy  7  may be phased out shortly  but  what will come is a multiple tariff  day where the price will vary on demand so  storage  heaters will still be  in use and  late evenings and weekends will for the foreseeable  future be the cheapest just you will need to  be a bit  more clever  when you  have them on just like   the people who charge  their cars at  night
  • waqasahmed
    waqasahmed Posts: 1,940 Forumite
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    paul991 said:
    economy  7  may be phased out shortly  but  what will come is a multiple tariff  day where the price will vary on demand so  storage  heaters will still be  in use and  late evenings and weekends will for the foreseeable  future be the cheapest just you will need to  be a bit  more clever  when you  have them on just like   the people who charge  their cars at  night
    It'd be cool if they could be a bit smarter, ie: pulling power at cheaper times, whatever that time is but that's not an easy task if it is no longer a simple eco 7 tariff
  • paul991
    paul991 Posts: 370 Forumite
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    some  of the tariffs are more or less there  already i think it was  octopus who  had  a  tariff that has  gone negative at  times  of peak production and a  company in America was paying people so they could control their immersion heaters to  dump excess power
  • waqasahmed
    waqasahmed Posts: 1,940 Forumite
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    paul991 said:
    some  of the tariffs are more or less there  already i think it was  octopus who  had  a  tariff that has  gone negative at  times  of peak production and a  company in America was paying people so they could control their immersion heaters to  dump excess power
    I wonder what that does for the energy market tbh, if there are enough people expecting their own back to the grid, do to speak. I'd hope that it'd make electricity a bit cheaper 
  • paul991
    paul991 Posts: 370 Forumite
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    as  you can on the forums on here some  people are already making money  from domestic batteries by  buying and then selling to the grid with  relatively cheaper and longer lasting storage systems coming on line this will only increase .I'm  now getting to the stage of adding storage to my  pv ,The only reason i haven't already is the fit payment
  • ispookie666
    ispookie666 Posts: 1,182 Forumite
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    I hope they don't or just rebrand it as TOU tariffs as long as it is more than 3 or 4 hours.  Givenergy AC coupled inverter tops off at 3000VA and will need at least 5 hrs to charge the batteries.  
    “Don't raise your voice, improve your argument." - Desmond Tutu

    System 1 - 14 x 250W SunModule SW + Enphase ME215 microinverters (July 2015)
    System 2 - 20 x 330W Jinko Panels + Enphase IQ7+ microinverters (Jan 2022) + Givenergy AC Coupled inverter + 2 * 8.2KWh Battery (May 2022) + Mitsubishi 7.1 KW and 2* Daikin 2.5 KW A2A Heat Pump
  • QrizB
    QrizB Posts: 13,822 Forumite
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    Whilst I was wrong for the reasons for it being phased out, it appears I was correct in betting on that it will be phased out
    https://www.checkatrade.com/blog/cost-guides/storage-heating-costs/
    Just something to be aware of. 
    If you're referring to this throwaway paragraph at the end of that blog article:

    Are storage heaters being phased out?

    Storage heaters are highly cost-efficient for the time being, but the Economy 7 tariff is being phased out as the UK moves towards the closure of all coal-based power plants by 2030. So, while it’s worth taking advantage of the low night-time rates for the next decade, it may not be the most long-term solution.

    ... I'd want something a bit more authoritative before declaring that E7 is being phased out.
    Do you have a reference to a Government or industry statement?
    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Taking a break, hope to be back eventually.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • Sterlingtimes
    Sterlingtimes Posts: 2,413 Forumite
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    Octopus is already disincentivising Economy 7 where the night rate is 71% of the day rate (West Midlands) while E.ON's night rate is 50% of its day rate. Octopus may already prefer to send thermal storage customers elsewhere.

    Is it desirable that thermal storage is phased out?
    I have osteoarthritis in my hands so I speak my messages into a microphone using Dragon. Some people make "typos" but I often make "speakos".
  • waqasahmed
    waqasahmed Posts: 1,940 Forumite
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    QrizB said:
    Whilst I was wrong for the reasons for it being phased out, it appears I was correct in betting on that it will be phased out
    https://www.checkatrade.com/blog/cost-guides/storage-heating-costs/
    Just something to be aware of. 
    If you're referring to this throwaway paragraph at the end of that blog article:

    Are storage heaters being phased out?

    Storage heaters are highly cost-efficient for the time being, but the Economy 7 tariff is being phased out as the UK moves towards the closure of all coal-based power plants by 2030. So, while it’s worth taking advantage of the low night-time rates for the next decade, it may not be the most long-term solution.

    ... I'd want something a bit more authoritative before declaring that E7 is being phased out.
    Do you have a reference to a Government or industry statement?
    No, but that is check a trade and they seem quite reputable 
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