Economy 7. Check your options!!

Mikesww

We’re being told that switching suppliers right now isn’t worth it.  HOWEVER, it might be worth looking into different suppliers if you are on E7 as I’ve realised they vary massively.  We moved into a 60s flat with ancient night storage.  Later this year we will be renovating and bin off the NSH and E7. In the meantime, we are being charged 23.80p per unit for night usage and 39.83p per unit for day usage (OVO).  I’ve not bothered looking around until now as I thought all unit rates were the same.  Our NSH and immersion cost an absolute fortune and in the last month (28 days) we have used 246 day units and 794 night units.  This worked out to be a total of £188.97 of night usage and £97.98 - total £286.95.  EDF’s E7 plan is a MASSIVE SAVING - 6.79 per unit on the night rate and then an extortionate 54.97 per unit day rate.  Doing the same sums with our usage, that would have resulted in £53.91 of night usage and £135.22 of day usage - total £189.13!  A saving of nearly £100. So it’s worth checking other suppliers E7 rates.  I’ve had a look around and they vary drastically between suppliers. Hope I’m not missing something, and my calculations are rounded, but it’s worth looking at how much you could potentially save by changing your E7 supplier! Hope this has helped some people out who are in our position with really old, inefficient NSH!

Mikesww

P.s.  I haven’t taken into account standing charges.  They are 3p per day more expensive.  Still a huge saving! 

EssexHebridean

The big question from this, for me, is what you are planning on installing in place of the NSH’s? 

You might also want to consider what else you can load shift to overnight too - your day use is still very high? 

Mikesww

EssexHebridean said:

The big question from this, for me, is what you are planning on installing in place of the NSH’s? 

That’s the question… we’re in a flat and there is gas to the whole building (but not out flat).  So relatively easy to get a gas connection but then a lot of expense to get a boiler and central heating.  We’re thinking all electric - a megaflo for hot water and Rointe electric rads.  We briefly looked at air source (we had that when we rented and was great) but very expensive and lots of issues with where the equipment would go in the flat.  There are some bespoke air source systems for flats but (as far as I’m aware) they are not mainstream and VERY pricey.  Any ideas/advice welcome!!!

EssexHebridean

If you think the current NSH’s are pricey to run that is nothing on what the Rointe heaters will cost. Lots of threads here already, and you won’t find much complimentary. Contrary to what their sales agents will tell you, they are not powered by some mythical magic dust, and they are not more efficient than “any other electric heater”. 

I would strongly suggest you do a lot of research on this - and also that you consider modern Storage heaters too - Dimplex Quantum, or Elnur make various models. You already have the cabling in place, and the modern ones are a very different thing to what you have currently. They’re not cheap, but they also won’t bankrupt you in the running costs! 

RedFraggle

Rointe will cost more than NSH to run. I would avoid. 

Mikesww

EssexHebridean said:

If you think the current NSH’s are pricey to run that is nothing on what the Rointe heaters will cost. Lots of threads here already, and you won’t find much complimentary. Contrary to what their sales agents will tell you, they are not powered by some mythical magic dust, and they are not more efficient than “any other electric heater”. 

I would strongly suggest you do a lot of research on this - and also that you consider modern Storage heaters too - Dimplex Quantum, or Elnur make various models. You already have the cabling in place, and the modern ones are a very different thing to what you have currently. They’re not cheap, but they also won’t bankrupt you in the running costs! 

I saw the Dimplex NSH but I worry about how long E7 will last.  With smart meters etc, will E7 still be an option in 4/5 years +?  The whole place needs re-wiring and to go to the expense of getting the E7 re-done too, for E7 (as we know it) to be phased out in a few years - to be replaced by time of use smart meters?  I’m not an electrician so not sure on the technicalities. 

macman

Ditching E7 is insane. Why? Any electric heating running on single rate is going to cost you at least 250% more for heating and hot water, which is up to 80% of your total energy usage.

70sbudgie

I have a smart meter and E7 tariff. Smart meters won't be the end of E7 tariff. In my opinion, just the opposite. Time of use tariffs (of which E7 is one of the longest offered) will become increasingly commonplace. Having the ability to load shift within your house will be more and more beneficial.

Mikesww

RedFraggle said:

Rointe will cost more than NSH to run. I would avoid. 

We’re told electricity is cleaner/greener… but it’s so much more expensive than gas!  Air source isn’t a viable option.  Installing gas and putting in central heating is a huge job.  Which is why we are tempted by the Rointe rads.  There’s a ceiling price here (and we’re on a tight renovation budget as we are first time buyers) so need to be careful how much we spend.  So many options and lots to think through.  I’m glad we haven’t made a decision yet and will give it a lot more thought. 

Mikesww

macman said:

Ditching E7 is insane. Why? Any electric heating running on single rate is going to cost you at least 250% more for heating and hot water, which is up to 80% of your total energy usage.

Good point.  I just felt that E7 was a very old tariff that may not be around for much longer.  Need to reconsider our options and have a chat with the electrician.