Std variable electricity tariiff

nrmsmith

I read on line that: “ The per kWh cap essentially fixes the per unit costs at 27p/kWh for electricity”

any idea then why EDF is personally quoting me the rate of 34.48p (day) and 13.78p (night)?

thx

MattMattMattUK

nrmsmith said:

I read on line that: “ The per kWh cap essentially fixes the per unit costs at 27p/kWh for electricity”

any idea then why EDF is personally quoting me the rate of 34.48p (day) and 13.78p (night)?

thx

The cap figure quoted in the media is for single rate energy rather than E7, the 27p figure is also not real, it varies by region. As you are on E7 the day an night rates are calculated on a notional usage figure to be at or under the cap figure, although your mileage may vary. If you know your usage figures on both day and night you can shop around, there are significant variations in rates between suppliers on the way the split the day and night rates, some heavy night users for example can save significant amounts by moving to EDF, but it depends on the region. 

MultiFuelBurner

nrmsmith said:

I read on line that: “ The per kWh cap essentially fixes the per unit costs at 27p/kWh for electricity”

any idea then why EDF is personally quoting me the rate of 34.48p (day) and 13.78p (night)?

thx

Because you are on economy 7 and they apply the price cap as they like but they are good rates if you use 50% of usage during night rate and 50% during day rate as that's an average 24.13p kWh

Just check if you are maximising your Economy 7 use as much as possible.

QrizB

nrmsmith said:

any idea then why EDF is personally quoting me the rate of 34.48p (day) and 13.78p (night)?

There's an explainer I wrote a couple of years ago linked from my signature, if you want to know the gory details.

EssexHebridean

That's a decent night rate though - a good focus on load shifting to use as much of your energy requirements as possible at off peak times could save you a good deal and drive your average cost for kWh down to a level far below what most of us can achieve currently on standard single rate! 

dunstonh

nrmsmith said:

I read on line that: “ The per kWh cap essentially fixes the per unit costs at 27p/kWh for electricity”

any idea then why EDF is personally quoting me the rate of 34.48p (day) and 13.78p (night)?

thx

Your online reading has given you the single rate price cap.  However, you are not on single rate.  You are on TOU tariff.  So, you have multiple rates.   The most common of which is economy 7.

With economy 7, the weighting averages out to the price cap.

Surely you didn't think you would get cheaper night electricity and have the single rate price cap as well?

Plus, if your online reading has only given one figure then it too is averaging the regions rather than being region specific.  There is no one single price cap figure.

nrmsmith

Thanks all for the detailed explanations. 

 I’m currently on a 3 yr fix due to end in Sep24 so I’m just looking ahead.  Yes I do maximise my E7 usage; the split is about 60% night; 40% day.  

If electricity gets much more expensive I may switch to sleeping during the day and living during the night🤣

EssexHebridean

Definitely have a good think about how much more you can load-shift to overnight - we used to achieve around 75% night/25% day across a year, with the coldest months being closer to 85%/15%. One winner we found in particular was keeping a close eye on the off-peak "off" time in the morning and making sure that our electric shower was always used before that point.