Economy 7 Dilemma

Happyholidaygirl

We are on an Economy 7 Meter which means we are paying much more than the average user with Gas Central Heating. I have signed up to British Gas’s Fixed Price Loyalty June v2, which they predicted I would be paying £450 per month based on last years usage. This is a lot of money for people on low income or pensions like my husband and myself. I noticed that most of Martins money saving tips on energy applied only to people with Gas Central Heating. However I then noticed Martins post all about Economy 7, and was interested to read that you could apply to have a single rate meter where you would not get the cheaper night rate but you would get a reduction in the day rate and a slightly lower standing charge. As we are now both retired, we are in the house more in the daytime and so we have decided to switch off the old storage heaters, and go onto a single rate meter, I have also asked to go on a variable monthly direct debit so that we can see how much energy we are using each month. British Gas also used to get the meter readings the wrong way round each month, so it will put an end  to this if we go onto a Single Rate Meter, hopefully.  British Gas are still predicting around £4,500 per year for our energy but we are hoping by switching off the storage heaters, wearing more clothes and just heating the rooms we use, that we will hopefully save money. If anyone else on all electric has any money saving tips, I would be very pleased to read them and I also hope Martin can help with more tips on energy savings for All Electric households who seem to be paying a lot more than people on Gas. 

EssexHebridean

How will you be heating even the rooms you use if not with electric? If you already have gas in the house then absolutely it makes sense to use it for heating - no question about that, but if you don't then turning off the storage heaters in the rooms you use in the colder weather either means no heating, or it means using a seriously expensive form of heating to warm those spaces. How is your hot water heated? 

Storage heaters really don't need to be *that* expensive to run - that's a bit of a myth, and this particularly applies if you have any of the modern style high heat retention ones. the trick with Economy 7 is to use as much overnight as you possible can - our usage is around 77% night/23% day - and to really learn the specifics of using your individual heaters in order to get the best out of them. 

pochase

How many rooms are you planning to heat? I assume you are going to use radiators/panel heaters? This would be the most expensive way to heat your home possible.

What are the rates for the single tariff fix, what were they for E7? What was your split between day and night (usage over 12 months for day and night units).

Mstty

Do you really use 14000 kWh electricity a year (approx guessing the fix elec rate)

At £5400 a year could you consider a downsize in house maybe as well, one with gas central heating.

I suspect there is a lot of energy saving you can do but perhaps you can let us know the size of your house and wether you heat your hot water constantly and what you leave on all the time.

QrizB

Mstty said:

Do you really use 14000 kWh electricity a year (approx guessing the fix elec rate)

That's not a crazy amount for someone with storage heaters.

Happyholidaygirl said:

As we are now both retired, we are in the house more in the daytime and so we have decided to switch off the old storage heaters, and go onto a single rate meter, I have also asked to go on a variable monthly direct debit so that we can see how much energy we are using each month.

As EssexHebridean says, this will only make sense if you already use much more day-rate electricity than night-rate despite having storage heaters.

What is the estimated annual consumption for each of day and nigh-rate electricity from a recent bill?

Do you have meter readings from about a year ago, and a recent set, that you can share with us?

markin

Unless you have £15-20K to install a heat pump and water radiator system ,Or £8K for air to air units, Or £5K for Solar panels, Then charging the storage heaters on a cheap night rate will likely be the cheapest way, Unless you simply plan to be cold.

£7-£8k for Aircon system

Mstty

It is good that you are thinking about energy use and cost, especially with the expensive times ahead.

I wouldn't suggest turning it all off and I wouldn't go for a single rate meter as even old storage heaters can work and not cost the earth to run on economy 7.

As pensioners they will work even better as you will be at home when they are pumping out their warmth and when it starts to get chilly late afternoon into the evening look at heating the person. Hot water bottles and lots of other options here.

I think you just need to look at how you are using them and come October time start with them on as low as possible and make small changes, reviewing energy use so you know what you want to spend and where. Double check you are not heating your hot water all day.

[Deleted User]

Hi,

you didn't say how many heaters and in what rooms.

You don't need them churning out heat in empty bedrooms, hot water bottle or electric blanket half an hour before bedtime, if needed.

Are you using them properly, as Mstty said above, start low and adjust as weather gets colder, no point putting them on full blast at start of cold weather.

Have you got your immersion heater set to catch last of the cheap rate, a well insulated tank should last most of the day.

Here's a wee VIDEO with some tips.

EssexHebridean

QrizB said:

Mstty said:

Do you really use 14000 kWh electricity a year (approx guessing the fix elec rate)

That's not a crazy amount for someone with storage heaters.

Happyholidaygirl said:

As we are now both retired, we are in the house more in the daytime and so we have decided to switch off the old storage heaters, and go onto a single rate meter, I have also asked to go on a variable monthly direct debit so that we can see how much energy we are using each month.

As EssexHebridean says, this will only make sense if you already use much more day-rate electricity than night-rate despite having storage heaters.

What is the estimated annual consumption for each of day and nigh-rate electricity from a recent bill?

Do you have meter readings from about a year ago, and a recent set, that you can share with us?

Well, you say that - we’re currently on roughly 4800 kWh per annum - we are slightly non-typical in that our cooker is gas - everything else is electric though!