Big Changes for E7 as part of EPG

mmmmikey

I was surprised earlier to see the following changes to EDFs E7 SVR rates for East Midlands for payment by DD:

Day: April 35.28p/kWh to Oct 47.31p/kWh (34% increase)

Night: April 13.40p/KWh to Oct 6.9p/kWh (48% decrease)

Standing Charge: April 44.84p/day to Oct 45.86p/day (small increase as expected)

I've checked British Gas and they're showing a 33% day time increase and 18% night time decrease and the same SC

Both EDF and BG indicate a published cap rate going from £1200 to £1373 for a customer in the East Midlands paying by DD

As a customer who's usage is heavily loaded towards night time use, this means I'll be paying less in October than I am before.

Make of this what you will, it would be interesting to hear any thoughts......

dunstonh

As with the other thread on this subject, which I already replied to, these splits would certainly suit me better.  It would lower my spend back to around January 2021 levels. 

I just hope we see similar on bulb.  

powerful_Rogue

I'm hoping Octopus do something similar with the Eco 7 plan.

mmmmikey

Just to give you an idea of the significance of this....

When I was heating my house with night storage heaters on E7 and using cheap rate overnight electricity, my annual consumption averaged over 3 years was 860kWh (day) and 9170kWh (night). The day figure is low because I have solar panels to provide much of my daytime usage and I have invested in energy efficiency appliances where I can.

At the EDF SVR for my region, my annual bill would be £1207

At the BG SVR for my region, my annual bill would be £2034

(can provide workings out if anyone wants them)

These are both capped standard variable rates but the difference is huge as EDF have opted for a low night / high day structure and vice versa for BG.

I'm not a typical case, but I certainly won't be alone in seing a big difference between the different suppliers.

Some people may well find that they would be better off considering a single rate tariff. Others will find that they might not be with the best supplier for them. And everyone has a powerful incentive to switch as much usage to night as they can.

enomis

I hope switching comes back, Sainsbury's for the Eastern region are quoting me;
Day: 62.30595p/kWh
Night: 32.5878p/kWh
Standing Charge: 39.03p/day

[Deleted User]

enomis said:

I hope switching comes back, Sainsbury's for the Eastern region are quoting me;
Day: 62.30595p/kWh
Night: 32.5878p/kWh
Standing Charge: 39.03p/day

I can't see that being under whatever new cap has been agreed for E7.  Is that the standard variable?

enomis

[Deleted User] said:

enomis said:

I hope switching comes back, Sainsbury's for the Eastern region are quoting me;
Day: 62.30595p/kWh
Night: 32.5878p/kWh
Standing Charge: 39.03p/day

I can't see that being under whatever new cap has been agreed for E7.  Is that the standard variable?

Yes, and updated within the late 48hr.

[Deleted User]

enomis said:

Deleted_User said:

enomis said:

I hope switching comes back, Sainsbury's for the Eastern region are quoting me;
Day: 62.30595p/kWh
Night: 32.5878p/kWh
Standing Charge: 39.03p/day

I can't see that being under whatever new cap has been agreed for E7.  Is that the standard variable?

Yes, and updated within the late 48hr.

That looks like a mistake.  That would make the "typical usage" cost over £2200 at the OFGEM split - for the EdF tariff it is about £1440 (likely similar for BG given mmmmikey's report).  If the Sainsbury's prices are right, that means EdF (and BG) are charging far under the cap level which I can't see them doing.

mmmmikey

Deleted_User said:

enomis said:

Deleted_User said:

enomis said:

I hope switching comes back, Sainsbury's for the Eastern region are quoting me;
Day: 62.30595p/kWh
Night: 32.5878p/kWh
Standing Charge: 39.03p/day

I can't see that being under whatever new cap has been agreed for E7.  Is that the standard variable?

Yes, and updated within the late 48hr.

That looks like a mistake.  That would make the "typical usage" cost over £2200 at the OFGEM split - for the EdF tariff it is about £1440 (likely similar for BG given mmmmikey's report).  If the Sainsbury's prices are right, that means EdF (and BG) are charging far under the cap level which I can't see them doing.

My workings out, sorry was being lazy before not including them

EDF rates from the tariff shown in my account online...

Day 47.31

Night 6.9

SC 45.86

Total using Ofgem standard user (0.4731 * 2436) + (0.069 * 1764) + (0.4586 * 365) = £1,442

BG rates from their website

Day 40.293

Night 16.582

SC 45.86

Total using Ofgem standard user (0.40293 * 2436) + (0.16582 * 1764) + (0.4586 * 365) = £1,442

So it looks almost certain the cap for E7 for East Midlands for monthly DD is 0kWh-£167 4100kWh-£1,442 inc VAT or 0kWh-£159 4100kWh-£1,373 exc VAT

Other regions and payment types will be different and if you use more you pay more yada yada yada....

enomis

Deleted_User said:

enomis said:

Deleted_User said:

enomis said:

I hope switching comes back, Sainsbury's for the Eastern region are quoting me;
Day: 62.30595p/kWh
Night: 32.5878p/kWh
Standing Charge: 39.03p/day

I can't see that being under whatever new cap has been agreed for E7.  Is that the standard variable?

Yes, and updated within the late 48hr.

That looks like a mistake.  That would make the "typical usage" cost over £2200 at the OFGEM split - for the EdF tariff it is about £1440 (likely similar for BG given mmmmikey's report).  If the Sainsbury's prices are right, that means EdF (and BG) are charging far under the cap level which I can't see them doing.

Just notice that it says 'If you pay by Direct Debit you’ll see a reduction in your prices', which I do, so there's some hope for me yet! I'm coming to the end of my 1 year fix so still a big big jump in price for me regardless. I would just like some clarity 

[Deleted User]

enomis said:

Deleted_User said:

enomis said:

Deleted_User said:

enomis said:

I hope switching comes back, Sainsbury's for the Eastern region are quoting me;
Day: 62.30595p/kWh
Night: 32.5878p/kWh
Standing Charge: 39.03p/day

I can't see that being under whatever new cap has been agreed for E7.  Is that the standard variable?

Yes, and updated within the late 48hr.

That looks like a mistake.  That would make the "typical usage" cost over £2200 at the OFGEM split - for the EdF tariff it is about £1440 (likely similar for BG given mmmmikey's report).  If the Sainsbury's prices are right, that means EdF (and BG) are charging far under the cap level which I can't see them doing.

Just notice that it says 'If you pay by Direct Debit you’ll see a reduction in your prices', which I do, so there's some hope for me yet! I'm coming to the end of my 1 year fix so still a big big jump in price for me regardless. I would just like some clarity 

That’s the standard direct debit discount wording, I wouldn’t take any notice if it for this point.