Octopus Electricity Only NOT Economy 7 Tarriff

MforumSManE

As title suggests does anyone know the current and post 01/10 Octopus Electricity Only NOT Economy 7 Tarriffs for the Eastern Region?

Spoonie_Turtle

Current, assuming you mean the standard variable?  https://octopus.energy/blog/energy-price-cap-july-2024/
They don't appear to have published October's yet.

HillStreetBlues

https://octopus.energy/blog/energy-price-cap-oct-2024/

Spoonie_Turtle

HillStreetBlues said:

https://octopus.energy/blog/energy-price-cap-oct-2024/

Ah I see my mistake - I put the full word 'october' into the URL (and it wasn't coming up via Google!).

MforumSManE

Thanks for that.

Looks like I could save £17 per month by switching from Economy 7 to Electricity Standard.

Do you know if I will need a meter change?

Currently I have a non Smart Meter.

Spoonie_Turtle

What type of heating do you have?

They should be able to bill both rates at the single rate so no smart meter required. 

However if single rate is cheaper than E7 year-round you might find there are further savings to be had from a smart tariff, so it could be worth requesting a smart meter anyway which would give you access to those and other money-saving events.

MforumSManE

Oil heating, E7 meter was a legacy of the previous owner with storage radiators.

Octopus have quoted me both rates at the single rate which is using the E7 meter.

RedFraggle

Are you charging a battery overnight or using overnight electric to heat water?

MforumSManE

No high usage at night of any kind (water is heated by oil boiler and is much cheaper than any E7 electric), and no electric car charging.

E7 rates just don't make sense for my usage pattern anymore hence the £17 saving per month by switching to non E7 tarrif.

Quote from Octopus now confirms my saving calculations, so will be switching end of month.

EssexHebridean

Yes - if essentially all your electricity use is being done on the day rate, and you aren't able to make sufficient use of load shifting to utilise the cheaper overnight rate, then you would pretty much certainly save by switching to single rate.