EDF new Economy 7 Tariff

Romesh

Hi all,

I'm with EDF for electricity and have just seen the new rates from October.  The tariff is a 'deemed' economy 7 and the day rate is increasing to 49.8p but the night rate is dropping to 7.85p compared to the government stated cap of 34p an hour.  Based on my historic usage, I calculate I would be £500 better off a year if I could switch to a flat standard rate at 34p (ie not Economy 7).  EDF don't appear to have any other tariffs available and most energy providers aren't accepting new customers.  Any advice?

[Deleted User]

Call them.  They do, but they might say that you need a smart meter.

Romesh

[Deleted User] said:

Call them.  They do, but they might say that you need a smart meter.

Thanks! I do have a smart meter, I'll give them a ring tomorrow 

mmmmikey

Hi - it should be easy enough to swap to a single rate tariff with EDF if that's what you want to do. All you need to do is contact them via online chat and ask them to make the change. Once you're on a single rate tariff it doesn't make any difference which supplier your with as they're all charging the same at the moment.

Before you change, though, might be worth posting you total day and night usage in kWh here so that one of us can double check your figures.

Romesh

mmmmikey said:

Hi - it should be easy enough to swap to a single rate tariff with EDF if that's what you want to do. All you need to do is contact them via online chat and ask them to make the change. Once you're on a single rate tariff it doesn't make any difference which supplier your with as they're all charging the same at the moment.

Before you change, though, might be worth posting you total day and night usage in kWh here so that one of us can double check your figures.

Many thanks Mikey, I've crunched the numbers (Chartered Accountant and spreadsheet nerd here!), I've got forecasts going forward by month based on last year's usage and split by day/night with projected new prices. With the Economy 7 tariff, it comes out at £2,971 for the year (inc st charge & VAT), vs £2,446 if I can get a single rate tariff.

FYI Usage:
Day: 7,168
Night: 1,430
Night %: 17%

I should point out, I'm not a 'typical' household - my flat is electricity only, so my heating during the winter pushes up my day usage a lot!

Mobtr

You’ll need to do a quote with them for the new rate but should be simple enough to change you over as long as they have good comms with the meter 

sebtomato

Be careful as some properties/flats on economy 7 also have circuits only switched on during the night, like hot water cylinder.

If economy 7 is disabled, some circuits may never switch on, and may need some electrician to rewire.

Hysteron

Romesh said:

FYI Usage:
Day: 7,168
Night: 1,430
Night %: 17%

I should point out, I'm not a 'typical' household - my flat is electricity only, so my heating during the winter pushes up my day usage a lot!

You are spending an awful lot on heating charged at the day rate with those usage figures. I too am in an all electric 1 bedroom flat and my annual usage is Day 1250 Night 5500, of the night rate about 1000 of that is for heating hot water and the remaining 4500 is for charging up the storage heaters.

On the E7 rates you quote my yearly bill would be £1206 for the year. I don't know if you use storage heaters but if you are not then there might be a substantial saving to be made by investing in them if that was possible.

Swipe

That new E7 night rate is an absolute steal for anyone with storage heaters.

Romesh

Hysteron said:

Romesh said:

FYI Usage:
Day: 7,168
Night: 1,430
Night %: 17%

I should point out, I'm not a 'typical' household - my flat is electricity only, so my heating during the winter pushes up my day usage a lot!

You are spending an awful lot on heating charged at the day rate with those usage figures. I too am in an all electric 1 bedroom flat and my annual usage is Day 1250 Night 5500, of the night rate about 1000 of that is for heating hot water and the remaining 4500 is for charging up the storage heaters.

On the E7 rates you quote my yearly bill would be £1206 for the year. I don't know if you use storage heaters but if you are not then there might be a substantial saving to be made by investing in them if that was possible.

Wow! You'd be quids in with this tariff!  Storage heaters would be a good option for a lot of people on these rates.  I'm in a 2 bed flat and with 2 people working from home throughout the year.  I also had the standard electric heaters replaced with IR heating panels last year, which are more efficient but of course, can't charge up at night. 

Update: I tried the web chat but when I got through, I was told to ring 0333 200 5100, which I did this morning and got it switched over.  Thanks for the advice all!

Phones4Chris

@Romesh Are you in the South East region? Wow indeed, why do the SE get such cheap E7 off-peak DD rates, I wish that was the case for the SW. All other regions are also a lot more expensive apart from East Midlands (which is cheaper again) according to their rate card!