Economy 7 confused

donnaaldridge

Hi, I have economy 7 with EDF, if I have worked it out correctly I only use 25% of my bill on E7. My day rate is 45.05p and my night rate is 6.57p. Would I save more with not being on it, I am so confused.

lohr500

Which region are you in and how do you pay for your electricity (pre-pay, variable Direct Debit, fixed monthly amount).
We need to see what the single rate tariff is for your prefered payment method to calculate if you would be better off switching to a single rate.
What were the day and night actual kWh usage numbers over say the past 3 or 6 months? Is it 25% of kWh you are using on the night rate, or 25% of the cost?

victor2

donnaaldridge said:

Hi, I have economy 7 with EDF, if I have worked it out correctly I only use 25% of my bill on E7. My day rate is 45.05p and my night rate is 6.57p. Would I save more with not being on it, I am so confused.

Think in kWh, and only then convert it to cost. You really need your annual kWh usage to get an idea of which tariff will be better for you. If you can get your meter readings close to a year apart, then people will be able to offer advice. There is a huge difference between 25% of the cost and 25% of the usage being on the night rate. Your latest bill may tell you what your annual usage has been.

donnaaldridge

My annual cost for day is 2575kwh and night is 903kwh does that help?

donnaaldridge

I am on direct debit, East Midlands area

victor2

donnaaldridge said:

My annual cost for day is 2575kwh and night is 903kwh does that help?

OK, so it's 25% of your usage is at the night rate and you presumably have gas or other non-electric heating as well, so your electricity usage is probably not so seasonal.
If you can find out what EDF's rate would be on a single rate, you can get an idea what that total usage would cost per year. It might work out cheaper. If it does, you would need to also find out if they could switch you to a single rate tariff at no cost to you.

Jyana

Single Rate - 3,478 units at 0.328p is £1,140.78 & £167.02 SC making £1,307.80/year

E7 - 2,575 units Day at 0.5192p is £1,336.94 and 903 units Night at 0.0588 is £53.10 & £167.39 SC making £1,557.43/year

Therefore you'd be £249.63 better off on the single rate (Please check my figures someone?)



ETA: Incidentally, you'd be even better off on PAYG Single Rate as that would only be £1,290.80/year

Spoonie_Turtle

I went to work it out for you and found your prices don't match any of the current rates according to EDF's updated prices.  Is that from a bill before the prices changed for 2023?

Current prices https://www.edfenergy.com/sites/default/files/government_energy_price_guarantee_prices._standard_variable_deemed_and_welcome._credit_meters.pdf

[Sometimes people get their supply region wrong - easy to do, they don't always tally with what we geographically think should be named the respective regions - but yours don't match any of them, even if your quoted prices were before VAT.]

For East Midlands on direct debit according to current prices (51.92p/kWh day, night 5.88p/kWh), with your usage figures (just usage, I'm not including standing charge):
E7 would be day £1336.94 night £53.0964 total £1390.04(2dp)
Single rate 3478kWh x 32.8p/kWh = £1140.79(2dp)

If you're right about your supply region then unless you can shift some more usage to the off-peak rate (or cut down any from the peak rate), single rate would be significantly cheaper for you.

Officer_Dibble

If you want to compare tariffs, my spreadsheet's still available

https://docs.google.com/spreadsheets/d/1dMm0I3s2vlAp8DdnM0LTcM_td4BwdHArpufAzicz__E/edit?usp=sharing

I've left it with your numbers in (subject to VAT beiong included/not included) and E7's worse than single rate for you by around £70 a year.

Swipe

I'd kill for a 6.57p night rate and sleep all day

Officer_Dibble

Me too, our night time usage is well over 80%