Eon moving from economy 7

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Hi all

Hope someone is able to help, my sister has recently moved to a flat which is all electric - she doesn't have storage heaters but does have a hot water tank. Eon is the provider and she is currently on the Next Flex tariff with the rates being as follows:

Day rate = 62.58 
Night rate = 34.37
Standing charge = 50.61

They emailed her on 20th September to say from 1st September her rates would be changing to the following:

Day rate = 44.735
Night rate = 16.519
Standing charge = 51.861

She had a smart meter fitted today and the guy from Eon who did it says he can't see why she needs to be on economy 7 and not standard. She currently works from home so having higher rate in day to me doesn't make sense. I guess my question is, is it possible to move to standard tariff and does anyone know what the rates are for that from 1st Oct and if financially it is better or should she try moving to another company such as Octopus? She has emailed them, last week but no contact yet although I imagine they are very busy.  At the moment she is being super cautious and is very anxious about her energy use - she doesnt switch on the tank and uses cold water/boils kettle instead and she also hasnt switched on the heating.

Thank you very much for any help, she is finding it quite confusing so I appreciate any information!

WDW
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Comments

  • All standard single-rate tariffs are the same.  There is no financial benefit to switching if you are on a single rate SVT.

    If you have a smart meter, you can be moved to single-rate almost instantaneously.

    On Economy 7, there are differences in the day/night split that means considering moving to another supplier might be sensible.
  • lohr500
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    Do you know what the standard variable single rate tariff will be for the area where your sister lives?
    How long has she been in the flat and how many units has she used on both the day and night readings?
    Is the flat heated by electric heaters which are switched on and off as needed? (Almost always this will be the most expensive form of heating :( )
    I am also assuming she is only heating the water during the off peak rate time window.

    The decision to switch between the Economy 7 and a standard single rate tariff will depend on how much electricity she currently uses in the off peak period and if she could shift any more of her usage into the off peak time window. 

    Without seeing the actual day/night consumption figures and understanding a bit more about the heating setup, it is hard to say which would be the better option

    My gut feel though is that if she is using peak time on-demand electric heating, then a single tariff would probably work out cheaper than Economy 7.  The premium day rate being used currently for any day time heating will more than likely wipe out the night time saving on heating the water. Especially if she doesn't use a lot of hot water.
  • QrizB
    QrizB Posts: 13,822 Forumite
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    WDW2010 said:
    Hope someone is able to help, my sister has recently moved to a flat which is all electric - she doesn't have storage heaters but does have a hot water tank.
    All-electric flats would normally have storage heaters. I suspect they were removed by the landlord or a previous owner who wasn't concerned about electricity bills. How is her flat heated now?
    ... she is currently on the Next Flex tariff with the rates being as follows:
    Day rate = 62.58 
    Night rate = 34.37
    Standing charge = 50.61
    Those aren't (or shouldn't be) the current rates, the current ones should be *much* lower than that. Do you know which electricity region she is in? Those rates could be the ones that would have applied from the 1st of October if the government hadn't stepped in with their Energy Price Guarantee (EPG).
    They emailed her on 20th September to say from 1st September her rates would be changing to the following:
    Day rate = 44.735
    Night rate = 16.519
    Standing charge = 51.861
    Those look like they could be EPG rates applicable from 1st October.
    She had a smart meter fitted today and the guy from Eon who did it says he can't see why she needs to be on economy 7 and not standard. She currently works from home so having higher rate in day to me doesn't make sense. I guess my question is, is it possible to move to standard tariff and does anyone know what the rates are for that from 1st Oct and if financially it is better or should she try moving to another company such as Octopus?
    Sadly if she has only recently moved in it's far too early to for her to know how much electricity she's using on the night rate, and how much on the day rate. But here's a complete guess.
    Imagine she's using 3kWh/day on the night rate to heat her hot water tank and 10kWh/day for everything else. Excluding the standing charge, on those new E7 rates, that will cost £4.97 a day. If she instead used those 13kWh on a single-rate tariff of 34p/kWh, it would cost £4.42 a day.
    If my guess is anything like right, she'd be better off on a standard single-rate tariff.
    As others have said, all standard single-rate tariffs are the same at the moment due to the EPG.
    At the moment she is being super cautious and is very anxious about her energy use - she doesnt switch on the tank and uses cold water/boils kettle instead and she also hasnt switched on the heating.
    Being careful with your energy use is a good thing but while she's on that E7 tariff she should be able to run her immersion heater and have hot water on tap for around 50p/day.
    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.
  • WDW2010
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    Hi all 

    Thank you for the replies so far - much appreciated!
    @QrizB and @lohr500 I shall try and answer your questions - she has sent me her first months bill today as submitted her readings and she has only been in the flat a month.

    The rates on the PDF bill are different to what is on her account and what I initially put in the message. So @QrizB I think you could be right. On her bill for September it is showing the rates she was charged this month as:

    Day rate = 32.28p/kWh
    Night rate = 17.73p/kWh
    Standing charge = 48.202p/day

    However this presumably will change from tomorrow to the rates they emailed her about and in my message above.

    In her month she used:
    Energy Used (Peak) 31.0 kWh @ 32.28p/kWh £10.01
    Energy Used (Off Peak) 16.0 kWh @ 17.73p/kWh £2.8
    Standing Charge 27 days @ 48.202p/day £13.01
    Total inc VAT = £27.15
    Average electricity usage during this bill period was 1.74 kWh/day.

    She is based in the East Midlands, the radiators in the flat are not storage ones but just standard normal radiators. So far she hasn't switched on the hot water tank and has been using cold water or filling the bowl with hot water from shower. She also hasn't switched the heating on yet.

    Thanks again for your help.
    WDW
  • stewie_griffin
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    The new EPG rates for E.ON Next in the East Midlands from tomorrow are day 42.25p, night 13.88p and sc 45.86p. The non E7 prices are 33.02p and 45.77p per day. This is what I was given when I asked (I pay by DD).
  • QrizB
    QrizB Posts: 13,822 Forumite
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    WDW2010 said:
    In her month she used:
    Energy Used (Peak) 31.0 kWh @ 32.28p/kWh £10.01
    Energy Used (Off Peak) 16.0 kWh @ 17.73p/kWh £2.8
    Standing Charge 27 days @ 48.202p/day £13.01
    Total inc VAT = £27.15
    Average electricity usage during this bill period was 1.74 kWh/day.
    If she used that same amount of electricity in October, she would pay:
    • Energy Used (Peak) 31.0 kWh @ 44.735p/kWh £13.87
    • Energy Used (Off Peak) 16.0 kWh @ 16.519p/kWh £2.64
    • Standing Charge 27 days @ 51.861p/day £14.00
    • Total inc VAT = £30.51
    Alternatively, on single-rate electricity (info from Octopus) at 35.73p/kWh and 51.78p/day SC:
    • Energy Used (Peak) 47.0 kWh @ 35.73p/kWh £16.79
    • Standing Charge 27 days @ 51.78p/day £13.98
    • Total inc VAT = £30.77
    So, so far at least, there's not a lot in it. However ...
    ... the radiators in the flat are not storage ones but just standard normal radiators. So far she hasn't switched on the hot water tank and has been using cold water or filling the bowl with hot water from shower. She also hasn't switched the heating on yet.
    When she starts using the heating, her daytime electricity use is likely to rise significantly (unless the people in the flats around her run theirs so high that they keep hers warm too).
    If she likes a practical experimental challenge she could try making better use of the E7 cheap rate period to heat the flat, but otherwise she's likely to be better off on a single-rate tariff during the winter months.
    (PS using an instantaneous electric shower to heat water is no different in price to using a kettle.)
    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.
  • WDW2010
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    The new EPG rates for E.ON Next in the East Midlands from tomorrow are day 42.25p, night 13.88p and sc 45.86p. The non E7 prices are 33.02p and 45.77p per day. This is what I was given when I asked (I pay by DD).
    Thanks for this much appreciated. I am confused as to why they have told her in an email that her rates from 1st October will be the following then:

    Day rate = 44.735
    Night rate = 16.519
    Standing charge = 51.861

    This is different to the rates you have mentioned. She also pays by DD.

    Thanks again.
  • QrizB
    QrizB Posts: 13,822 Forumite
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    edited 30 September 2022 at 3:35PM
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    WDW2010 said:
    This is different to the rates you have mentioned. She also pays by DD.
    Your sister's prices look to be the cash/cheque prices, not the DD ones.

    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.
  • WDW2010
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    QrizB said:
    WDW2010 said:
    This is different to the rates you have mentioned. She also pays by DD.
    Your sister's prices look to be the cash/cheque prices, not the DD ones.

    That makes sense as she only moved to DD about week and half ago once she got her online account set up. She will ring and check this as well as seeing about the standard rate.

    I think looking at the SVT would be a good idea as like you mentioned once she does put heating on its going to be during the day as she WFH (at least until she gets another job). I am on octopus as is our parents and have always had good service from them so I think she might contact them.

    Thank you.
  • QrizB
    QrizB Posts: 13,822 Forumite
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    WDW2010 said:
    QrizB said:
    WDW2010 said:
    This is different to the rates you have mentioned. She also pays by DD.
    Your sister's prices look to be the cash/cheque prices, not the DD ones.

    That makes sense as she only moved to DD about week and half ago once she got her online account set up. She will ring and check this as well as seeing about the standard rate.

    I think looking at the SVT would be a good idea as like you mentioned once she does put heating on its going to be during the day as she WFH (at least until she gets another job). I am on octopus as is our parents and have always had good service from them so I think she might contact them.
    If she does switch to Octopus, make sure she has a referall code from you or your parents.
    Good luck!
    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.
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