How easy is it to switch between single rate and E7?
We're on E7 (two storage heaters) with EDF and now paying very low night rate (6.79p) and high day rate (54.97p). Soon, our storage heaters will go off and stay off until for months. Are there any potential problems of switching to single rate once the heaters go off in a few weeks and then switch back to E7 next November for the winter?
Debt Free: 01/01/2020
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5.25kWp SW facing (14 x 375 Longi) Lux 3.6kw hybrid inverter and 4.8kw Pylontech battery storage
Agile/ Outgoing Agile and Tracker gas
For us,in 2019, one month was better on single rate (in cost terms £3.22 per day vs £3.36) and in 2020, three months were better at £2.99 vs £3.18, £3.12 vs £3.31 and £3.30 vs £3.38).
No months were in 2021 or 2022. However, our meter timer went wrong in 2021 and our night rate now occurs between 8.50am and 3.50pm.
There are other E7 threads running that remark how some suppliers have tariffs that only need around 10%+ at night rate to be better whilst others need around 30%+ So, what is right for one person will vary for another depending on their supplier and their ratio of day/night use.
We have a smart meter. Wonder if EDF would let us do this, potentially we'd end up paying them less over the year which they might not like.
This last December with the storage heaters on we've used average 70% of our usage at night. Looking at some random days last June we used average 11% of our usage at night. If we were paying single rate during December our cost would have been doubled, last June (at todays prices) we'd have paid about a £1 a day more. It looks like switching to single rate once the heaters are off could potentially save over £200 over the year, but if we got stuck on single rate we'd be in financial trouble next winter.