We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Economy 7
Comments
-
OFGEM gives them the flexibility to do so, yes. They're' not very prescriptive on how it's calculated though.I've seen a few suppliers tariff tables show a 'weighted average' to convert the two rates into an equivalent single rate, although I don't know what the calculation is.For my current E7 tariff from Octopus the rates are 41.11 Day and 15.36 Night, which requires 1/3 of the consumption to be at night to be cheaper than the single rate.3.6 kW PV in the Midlands - 9x Sharp 400W black panels - 6x facing SE and 3x facing SW, Solaredge Optimisers and Inverter. 400W Derril Water (one day). Octopus Flux0
-
The weighted average of 42% of the night rate plus 58% of the day rate cannot be more than the relevant regional capped kWh price.A day rate of 39p/kWh would suggest a night rate of about 27p/kWh (subject to regional variations).N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill Coop member.Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs, Best kettle!
2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 35 MWh generated, long-term average 2.6 Os.1 -
The calculation they use for the ratio between night rate and day rate varies with suppliers but it must tie in with the EPG.BKD1972 said:Hi
Does anyone know if energy suppliers are allowed to charge more than the cap on Economy 7 if the day and night rate average is less than the cap? My supplier has put my day rate up to 39p.
So, a supplier like EDF has a very low night rate but a higher day rate. Whilst others may have smaller differences.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards