In shock at 290% increase in my EDF E7 nightime rate since 1 Apr - why ?

crazycarl

I am on EDF Standard E7 tariff paying by monthly DD, and I have only just learned that my nightime rate has increased from £0.0588 to £0.169 /KWh (290% more than the previous quarter), yet the goverment I understood has maintained the EPG support, anyone know why there has been such a monumental change and shift in the Night rate since the 1 Apr as it doesnt make any sense.

In Apr 21 it was £0.0979, in Apr 22 it was £0.134, in Oct 22 it was reduced to £0.069 in Jan 23 it was £0.0588 and now from 1 Apr it is £0.1693, it is just plain ridiculous.... and so frustrating.

Anyone have any clues why such a humungous increase that will be flying below the radar for many people who are so reliant on an affordable night rate...

[Deleted User]

Have a read of this thread:

https://forums.moneysavingexpert.com/discussion/6436562/mse-news-government-changes-how-the-energy-price-guarantee-should-be-applied-to-economy-7-tariffs/p1

MultiFuelBurner

That was a ridiculously low night rate, one which you will have gained extreme savings over the winter period.

Many would have rushed to get those rates.

However that ride is over but then so is the reliance on night time rates for storage heaters etc with the weather finally on the turn to the bright side.

MattMattMattUK

crazycarl said:

I am on EDF Standard E7 tariff paying by monthly DD, and I have only just learned that my nightime rate has increased from £0.0588 to £0.169 /KWh (290% more than the previous quarter), yet the goverment I understood has maintained the EPG support, anyone know why there has been such a monumental change and shift in the Night rate since the 1 Apr as it doesnt make any sense.

In Apr 21 it was £0.0979, in Apr 22 it was £0.134, in Oct 22 it was reduced to £0.069 in Jan 23 it was £0.0588 and now from 1 Apr it is £0.1693, it is just plain ridiculous.... and so frustrating.

Anyone have any clues why such a humungous increase that will be flying below the radar for many people who are so reliant on an affordable night rate...

In come areas EDF had huge differentials between night and day rates, they had by far the cheapest night rates in some parts of the country, less than half what their closest competitor offered, this hugely benefitted their customers over winter, when energy usage is at it's highest. 

The night rate will have increased, but the day rate will have proportionally decreased, meaning that the tariff is still compliant with the EPG rates. 

Part of the reason is changes in the way the EPG is applied, others is them seasonally adjusting. In areas where they have made these changes they are generally still the cheapest night rate available (and because of that, proportionally the highest day rate). You can look to change supplier, but it would also be worth factoring in that now we are out of winter and heating is no longer required the night rate rising is likely to have far less effect than the benefit if it being very low over winter. 

crazycarl

Just for total clarity and reference the Daytime rates over the same period I quoted above are:
Apr 21 £0.258, Apr 22 £0.3528, Oct 22 £0.473, Jan 23 £0.519 and now Apr 23 is £0.423.  I just dont get the need for the ridiculously huge jump, all I can guess is that they benefit from their own nuclear baseload at night and sought to pass that on to customers and shelter us from the worst of the winter. 

It is just a huge shock to see such a massive dramatic shift in price strategy of 290% which a lot of customers may not have picked up until they get they next bill.

Hence me seeking to raise the profile to make other E7 EDF customers aware, before they get a huge bill shock

MattMattMattUK

crazycarl said:

Just for total clarity and reference the Daytime rates over the same period I quoted above are:
Apr 21 £0.258, Apr 22 £0.3528, Oct 22 £0.473, Jan 23 £0.519 and now Apr 23 is £0.423.  I just dont get the need for the ridiculously huge jump, all I can guess is that they benefit from their own nuclear baseload at night and sought to pass that on to customers and shelter us from the worst of the winter. 

It is just a huge shock to see such a massive dramatic shift in price strategy of 290% which a lot of customers may not have picked up until they get they next bill.

Hence me seeking to raise the profile to make other E7 EDF customers aware, before they get a huge bill shock

The thing is the day rate falls proportionally, so the overall cost, based on the target split (58/42) remains in line with the EPG, but those on the EDF E7 rates over winter have actually had a cost that should have effectively been half the EPG rates in real terms when accounting for seasonality. 

The need for the jump is partially the way the EPG is now being applied to E7 rates, a change instigated by the government, and the need to rebalance the split based on usage trends, particularly as we head into summer. It has come up many times on here already and it was in the media as well, so it is not being sneaked in by the back door. With changes to seasonal usage there should be no "bill shock", heating is no longer required, water heating energy usage will fall as inflow temperature rises and on top of that we generally use less energy in other ways as the weather warms as we eat less hot food, do not need lighting on as long etc. Even with the E7 rebalancing one would expect monthly cost over this quarter to drop below the last two quarters. 

EssexHebridean

I think this is really demonstrating a problem with suppliers using ultra low night rates to draw in customers - which is presumably what EDF did last quarter. This then creates a false sense of "this is what we should be paying" - unsurprisingly really as let's be honest, the suppliers aren't going to be telling people what they're up to, are they! 

Something to remember though is that E7 is one area where shopping around for a better rate according to your own circumstances is still worth it so it could well be worth a little look to see if there are suppliers which would be cheaper based on your own day/night split.

Swipe

Blame Martin Lewis

EssexHebridean

Swipe said:

Blame Martin Lewis

Not sure how Martin is responsible for suppliers wanting to draw customers in with super cheap night rates....? 

Swipe

EssexHebridean said:

Swipe said:

Blame Martin Lewis

Not sure how Martin is responsible for suppliers wanting to draw customers in with super cheap night rates....? 

https://forums.moneysavingexpert.com/discussion/6436562/mse-news-government-changes-how-the-energy-price-guarantee-should-be-applied-to-economy-7-tariffs

EssexHebridean

Swipe said:

EssexHebridean said:

Swipe said:

Blame Martin Lewis

Not sure how Martin is responsible for suppliers wanting to draw customers in with super cheap night rates....? 

https://forums.moneysavingexpert.com/discussion/6436562/mse-news-government-changes-how-the-energy-price-guarantee-should-be-applied-to-economy-7-tariffs

I'm not convinced that is why EDF have so dramatically changed their rates I'm afraid - I think that is a lot more to do with needing to attract extra customers over the past few months. And we've seen from here - that's worked!