Economy 7 Price hike

Swipe

Stubod said:

18.5p still sounds very cheap to me??

Not when you have half a dozen storage heaters it doesn't

EssexHebridean

atalosstoo said:

My night day split is around 80/20 because of the storage heaters and the hot water heater. So the hike in night pricing affects me a lot.

So have a look round, see what other suppliers are quoting for your postcode - just be sure to check that the tariff card you are looking at gives prices from 1st April). EDF have been remarkably cheap for a lot for night rate - although some say that the trade off comes in poor customer service. I'm in the eastern region and have found Octopus to be a decent compromise - slightly more expensive but very good customer service and I like their ethos. If looking at Octopus then remember to ask around family and friends to get a referral code - it will give both you and the referrer £50 bill credit once you have been a customer for a while. 

Stubod said:

18.5p still sounds very cheap to me??

Not really - there have been plenty of night rates around the regions cheaper than that in recent months. Even post 1st April mine will still be a penny or so below that level. 

Scot_39

atalosstoo said:

My night day split is around 80/20 because of the storage heaters and the hot water heater. So the hike in night pricing affects me a lot.

Is that your annual split, or your winter split ?.

And is it your spring split - which is the only period, based on last three Q price changes, they are likely to apply for.

And we expect next Q to lose any epg distortions.

Scot_39

Swipe said:

Stubod said:

18.5p still sounds very cheap to me??

Not when you have half a dozen storage heaters it doesn't

Are you still using them for most of April to Jun.

And perhaps be thankful for the past cheap rate over winter  - when you were

What were your rates in Oct ?

Swipe

Scot_39 said:

Swipe said:

Stubod said:

18.5p still sounds very cheap to me??

Not when you have half a dozen storage heaters it doesn't

Are you still using them for most of April to Jun.

And perhaps be thankful for the past cheap rate over winter  - when you were

What were your rates in Oct ?

I wasn't speaking personally. I was speaking for people in general with a bunch of storage heaters. And realistically, it won't be any cheaper next winter when they are switched on.

Scot_39

Then  they can consider that very question.

Complaining about a rate on something less likely to be being used, is arguably pointless.

Especially when it comes with a balancing reduction in units more likely to be used.

Conveniently ignored as usual in first post.

The new tariffs will in all likelihood change again in July, Oct etc etc

Panic about next winter now ifs  - seems only likely to lead to stress and anxiety.

Swipe

Scot_39 said:

Then  they can consider that very question.

Complaining about a rate on something less likely to be being used, is arguably pointless.

Especially when it comes with a balancing reduction in units more likely to be used.

Conveniently ignored as usual in first post.

The new tariffs will in all likelihood change again in July, Oct etc etc

Panic about next winter now ifs  - seems only likely to lead to stress and anxiety.

The predictions are a dip in July then back up in October last time I checked. And who was complaining about prices? I was just stating that 18p wasn't cheap.

Scot_39

pochase said:

There is no reason for a complaint.

E7 rates can be freely set by energy suppliers as long as they follow the rules set by Ofgem. Those rules are that based on 4200KWh and a 58%/42% day/night split the calculated unit rate needs to equal or lower than the single rate price.

A supplier can set the rates however they want as long as they follow the above rules. And they can change that comp;l;etely around when the cap changes every 3 months.

Does that apply per quarter or per year - the 58 42 thing.

Because EOn put E7 day and night rates up in regions when their SR epg dropped.

Effectively shifting the break even point up over 10% against SR.

Which is why some left E7 for flat rate.

And are you 100% sure it's the single rate price, and not the multirate price - they are not the same.

In Jan the Ofgem SR rate dropped 0.2p here, the multirate increased by over 2p.

And lastly  - should it apply to all multirate or just E7 ?

Spoonie_Turtle

Scot_39 said:

pochase said:

There is no reason for a complaint.

E7 rates can be freely set by energy suppliers as long as they follow the rules set by Ofgem. Those rules are that based on 4200KWh and a 58%/42% day/night split the calculated unit rate needs to equal or lower than the single rate price.

A supplier can set the rates however they want as long as they follow the above rules. And they can change that comp;l;etely around when the cap changes every 3 months.

Does that apply per quarter or per year - the 58 42 thing.

Yes it's annual, technically.  The calculation is simply 4,200kWh at the 58/42 split and it has to come in at the cap set by Ofgem (or in this case, the artificial cap imposed by the EPG).

If you check Octopus' rates tables you'll see the weighted averages and annual cost as the outcome for each region.

MattMattMattUK

Scot_39 said:

pochase said:

There is no reason for a complaint.

E7 rates can be freely set by energy suppliers as long as they follow the rules set by Ofgem. Those rules are that based on 4200KWh and a 58%/42% day/night split the calculated unit rate needs to equal or lower than the single rate price.

A supplier can set the rates however they want as long as they follow the above rules. And they can change that comp;l;etely around when the cap changes every 3 months.

Does that apply per quarter or per year - the 58 42 thing.

The 58/42 applies regardless of the time of year.

Scot_39 said:

Because EOn put E7 day and night rates up in regions when their SR epg dropped.

They can shift it at any point, it will depend on the rate that they can buy the energy and their surpluses in different regions at different times of day. 

Scot_39 said:

And lastly  - should it apply to all multirate or just E7 ?

That split is for E7, E10 has a different split, outside of those other multi rate tariffs such as EV tariffs, etc. are at the suppliers discretion as they are not subject to the SVT.