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Economy 7 phasing out



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.
Comments
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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.1
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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 night2
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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 night0
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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 power1
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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 power0
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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
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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 - 9.2 KWp + Enphase IQ7+ and IQ8AC (Feb 22 & Sep 24) + Givenergy AC Coupled inverter + 2 * 8.2KWh Battery (May 2022) + Mitsubishi 7.1 KW and 2* Daikin 2.5 KW A2A Heat Pump1 -
waqasahmed 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?N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 33MWh generated, long-term average 2.6 Os.Not exactly back from my break, but dipping in and out of the forum.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!3 -
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".0 -
QrizB said:waqasahmed 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?0
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