Economy 7 tariff

dereedwa

Hi am I correct in being told that Economy 7 tariffs are not in the new Gov price guarantee scheme for electric and unit kwh rates are higher because the night rate is cheaper to balance things out?

Price Guarantee 34p/kwh average 

My E7 Energy supplier 45p/ kwh Day 
11p/ Night


 Thanks 

stewie_griffin

The way E7 prices work are different but they still fall under the EPG. On the plus side the low night rate means you only need to use 35% on the night to start seeing a benefit of being on E7.

dereedwa

Thanks so I take it the 45p/ kwh is correct and I need to perhaps stay awake at night and sleep in the day lol.
cheers

Getferret

You should have received some form of communication from your supplier by now advising of the new rates.  Those rates look like EDF, standard variable by DD.

EssexHebridean

dereedwa said:

Thanks so I take it the 45p/ kwh is correct and I need to perhaps stay awake at night and sleep in the day lol.
cheers

Nope, you need to let your off-peak rate do exactly what it's meant to - charge your storage heaters, heat your hot water, and if possible you might programme your washing machine/dishwasher to run at that time as well. At this time of year it's also very achievable to use the shower/blow dry or style hair (if applicable) and similar on the off peak rate as well. We get in the region of 75% of our use on the night rate, and are aiming to try and push it even higher if we can! 

dunstonh

Hi am I correct in being told that Economy 7 tariffs are not in the new Gov price guarantee scheme for electric and unit kwh rates are higher because the night rate is cheaper to balance things out?

Yes they are but the workings are different to reflect the fact there are two rates.  Different suppliers apply their differences in different ways.  For example, EDF have a low nigh rate which is great for heavy night users whilst others can be double the EDF rate at night but less on the day rate.

My E7 Energy supplier 45p/ kwh Day 
11p/ Night

That is a cracking night rate and a not so good day rate.   If you are weighted more to night, then its good news for you

dereedwa

Thanks for all the comments 
cheers.

Scot_39

I have E10 and just recieved my 1st bill.

It was not abnormal for the E10 day rate to exceed the Ofgem cap - but the night/offpeak to be cheaper.

Same for E7

The key thing is the balance - which depends heavily on your actual usage patterns.

E10 and E7 were primarily designed for all electric - including heating and hot water - homes.

Re Energy Price Guaranteee (EPG c34p)

Suspect you may also be seeing the impact of the application - of a little publicised part of the price cap.

The section on variable tariffs not subject to the price cap - and so the 34p limit doesn't apply - and is replaced by a discount of 17p on suppliers rates.

See

https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

Or if the link doesn't work - had trouble posting them in past - search for

gov uk energy bills support factsheet

RE Ofgem rates

These are almost always only ever quoted for duel fuel single rate supply - they do do seperate tables for duel rate electric - but never worked out the link from Ofgem published tariffs for dual rate electric and my actual tariffs.

For peace of mind - you might want to work out your average annual kWh rate

If you have just had a price update - you may have had an annual usage summary / annual forcast - don't just use a summer month without much heating.

Ave = (Day Units*Day Rate + Night Units*Night Rate) / (Day Units+Night Units)

And compare that to the 34p (actually regional)

[Deleted User]

Scot_39 said:

I have E10 and just recieved my 1st bill.

It was not abnormal for the E10 day rate to exceed the Ofgem cap - but the night/offpeak to be cheaper.

Same for E7

The key thing is the balance - which depends heavily on your actual usage patterns.

E10 and E7 were primarily designed for all electric - including heating and hot water - homes.

Re Energy Price Guaranteee (EPG c34p)

Suspect you may also be seeing the impact of the application - of a little publicised part of the price cap.

The section on variable tariffs not subject to the price cap - and so the 34p limit doesn't apply - and is replaced by a discount of 17p on suppliers rates.

See

https://www.gov.uk/government/publications/energy-bills-support/energy-bills-support-factsheet-8-september-2022

Or if the link doesn't work - had trouble posting them in past - search for

gov uk energy bills support factsheet

RE Ofgem rates

These are almost always only ever quoted for duel fuel single rate supply - they do do seperate tables for duel rate electric - but never worked out the link from Ofgem published tariffs for dual rate electric and my actual tariffs.

For peace of mind - you might want to work out your average annual kWh rate

If you have just had a price update - you may have had an annual usage summary / annual forcast - don't just use a summer month without much heating.

Ave = (Day Units*Day Rate + Night Units*Night Rate) / (Day Units+Night Units)

And compare that to the 34p (actually regional)

That’s not how the cap works on multi rate tariffs, the 17p discount is on fixed tariffs not directly on multi rate tariffs, and 34p isn’t the cap for those tariffs either. 

You don’t do an average based on your usage. You do it based on 58% day and 42% night.

Apart from that, some of what you said might be correct.

QrizB

[Deleted User] said:

Scot_39 said:

I have E10 ...

That’s not how the cap works on multi rate tariffs, the 17p discount is on fixed tariffs not directly on multi rate tariffs, and 34p isn’t the cap for those tariffs either. 
You don’t do an average based on your usage. You do it based on 58% day and 42% night.
Apart from that, some of what you said might be correct.

I don't think it's 58/42 for E10 tariffs; judging from SSE's tariff in my area, and assuming the same multi-rate cap applies as with E7, it's more like 15/85 day/night.

My local E7: 38.02p day / 20.38p night

vs E10: 37.14p day / 25.62p night

That's for DD payment, and the daily SC is 44.5p on both.

Scot_39

I can assure that is exactly how my bill is laid out for October usage

Did you look at the section of the fact sheet.

On my Oct bill - I have 2 added lines for the discount on day and night

  SC                                    £ X

  Usage at higher rate        £ Y

  Usage at 17p discount    - £ Z

And the Total = X+Y-Z

Mix of Day / Night

And 58/42 might be some breakeven, even the regulatory price setting weighting factor - but it is not your personal one.

And if that is E7 - do you have one for E10 ?

So if - as another post - no longer using E7 for heat - might be close to

100% day @ 45, 0% 11p night - Ave Cost 45p

58% day/ 42% - Ave = 31p  - looks pretty close to cheap regional EPGs

50% day/50% - ave =28p

Or long hand

1000 units at day, 1000 units at night pa - annual bill =  1000*.45 + 1000*.11 = £560

Same as using 2000 units at an ave of 28p = £560 (so 28p the most he should look to pay if went to flat rate)

So unless can get 28p on a flat rate - better off.

25%day/75% - ave = 20p

Or again albeit very unlikely -

0% day/100% - ave 11p

Or in simple terms - the more of the share of your use at the lower rate - the less it will cost.

Stay in detched or semi - where it wont annoy the neighbours - put your washing machine on at night - saves money - and increases night rate share

And in terms of happy or not to stay E7

Needs to compare actual average cost with the available flat rate.

And if the 58% day is the rule - I didn't know there was one - is he uses less than that share - he is probably

going to be worse off