EDF Economy 7 Price East Anglia Region

atco1

I am currently on Economy 7 tariff with EDF in East Anglia.  I run an Electric 30 Amp AGA which heats the whole kitchen area of the home.  This plus Dishwasher, Immersion Heater etc means I use daily in winter 37kWh at night rate and 6kWh at day rate.  Current price is 39.911p per kWh 'day' rate and 8.568p per kWh night rate.  Around 80% of my consumption is night rate.   I was expecting a gentle uplift in prices as indicated by all sources only to find EDF have changed the price to 36.414p per kWh 'day' and 16.664p per kWh from 01 January 2024.  This is pretty much a 100% increase in the night rate and will mean approximately £800pa extra in one hit with no change in usage.  EDF tell me by reducing the day rate and increasing the night rate they are staying within the price cap but it stills means a huge increase for us.  I have escalated the complaint and am waiting for further contact from EDF but to say I am dismayed ( being polite ) is an understatement.  I assume there are others in my boat and if you are with EDF on Economy 7 suggest you look closely at the new rates.  It would appear that everybody else is charging similar.  EDF also say it costs 16p per KwH for them to produce night electricity but I can't believe they would be selling at only 8p per unit over the last year or so and make a loss of 8p per unit.  Something is not adding up.  If anybody has any good is ideas or suggestions they would be gratefully received.  

QrizB

Welcome back to the forum!

atco1 said:

If anybody has any good is ideas or suggestions they would be gratefully received.  

Luckily for you, you've had unusually low rates for the last year or so. They are now returning to normal.

There are a few threads on this already; see for example:

https://forums.moneysavingexpert.com/discussion/6493314/economy-7-doubling-in-cost

https://forums.moneysavingexpert.com/discussion/6493111/economy-7-tariffs-from-1-1-24

https://forums.moneysavingexpert.com/discussion/6491090/edf-e7

https://forums.moneysavingexpert.com/discussion/6492512/edf-91-price-hike

EssexHebridean

I think a good number of people are taking the cynical view that EDF have been charging a far below market-normal night rate on E7 particularly in the Eastern region for the past little while in order to attract new E7 customers - and that now they have done that, they are increasing back in line with other suppliers knowing that an awful lot of those new customers will simply sit tight without changing supplier again. Can you do anything about it? No. Have you had a decent run of VERY cheap for the current day off-peak electricity. Yes. 

QrizB

EssexHebridean said:

I think a good number of people are taking the cynical view that EDF have been charging a far below market-normal night rate on E7 particularly in the Eastern region for the past little while in order to attract new E7 customers ...

Whether the cynical view is right, or wrong, will never be known.

For comparison here are some previous EDF SVTs for October 2020, April 2021, April 2022 and October 2023. In previous years, Eastern, South East and East Midlands often had cheaper E7 night rates than other regions.

Compare to January 2024 where the variation between regions is much smaller, and Eastern is just another region like all the others.

JSHarris

Not just EDF, I noticed the same pattern here (Southern region) with several suppliers.  I swapped to Utility Warehouse to dodge a big increase in E7 off-peak rates last year, but their service wasn't great.  Swapped to EDF this summer as they lowered their E7off-peak rates here.  Now EDF have increased their E7 off-peak rates here, but "only" by 22.5%.  Like the OP, most of our consumption is at the off-peak rate (we have storage heating and hot water plus a battery system that charges overnight).

dunstonh

I am currently on Economy 7 tariff with EDF in East Anglia.  I run an Electric 30 Amp AGA which heats the whole kitchen area of the home

Just for reference, I do not have a second account     

EDF tell me by reducing the day rate and increasing the night rate they are staying within the price cap but it stills means a huge increase for us.

They are correct. Their hand is somewhat forced on this.

  I assume there are others in my boat and if you are with EDF on Economy 7 suggest you look closely at the new rates.

Many people, as mentioned above.  However, the 8p night rate was so much cheaper than everyone else.   Which is why I took advantage of one of the several fixes the ran over the last 6 months.

 EDF also say it costs 16p per KwH for them to produce night electricity but I can't believe they would be selling at only 8p per unit over the last year or so and make a loss of 8p per unit.

Ignore that as it isn't how it works and a call centre staff member wont have a clue.

f anybody has any good is ideas or suggestions they would be gratefully received.  

Glass half full or half empty.....

You had a period when you were able to save money compared to most.

You had a period when you could have moved to fixed rate as there were rumblings that it wouldn't last.

JSHarris

atco1 said:

EDF also say it costs 16p per KwH for them to produce night electricity but I can't believe they would be selling at only 8p per unit over the last year or so and make a loss of 8p per unit.

EDF the energy supply company have nothing at all to do with producing electricity.  They buy electricity on the open market, just like every other supplier, some at fixed rates, some on the hour time slot day-ahead auction rates.  The latter vary vary a lot over the course of a day, cheap at night, expensive late afternoon during the day.  They aim to set their retail prices to recover their costs and make a profit. 

Anyone can track the day ahead wholesale prices that suppliers are paying to buy in electricity to retail here: https://www.nordpoolgroup.com/en/Market-data1/GB/Auction-prices/UK/Hourly/?view=table

From the latest wholesale prices (for today, 20/12/2023) suppliers are paying 2.387p/kWh for the cheapest off-peak slot, 7.996p/kWh for the most expensive peak rate slot, or an average of 5.772p/kWh over the whole day.