Price Capped Direct Debit tariff

buckrogers

I just got a email from

MSE's Cheap Energy Club

Most of the cheapest fixes have already been pulled. As I write this, there are two left – both, on average, over 6% cheaper than the current Cap (so likely 12% cheaper than the April Cap)

I am on a price Capped Direct Debit tariff for the last 3 years,

i check the MSE Cheap Energy Club , but none of the deals are cheaper.

We are all electric in our home. storage heating economy 7, so most of our electric is used nightly.

I am with Utility Warehouse

my day electric is   36.065

night    5.508

on last monthly bill we used Kwh 593 day

and night e7  1894 kwh

when i check other firms quotes the day electric is  23.016p per kWh

and night electric  14.732p per kWh

So its around £83 more a month if i go with  Ecotricity

As we use storage heating as we have to keep our home warm as my wife is 70 years young and has had two stents for her heart and suffers with angina

I have asthma and copd

so as we use more electric at night priced at 5.508 a kwh 'i know it will go up in April' but am i better to stay who i am with ?

Just it gets scary when you panic and don't know what to do if i am making the right choice.

Thank you

Scot_39

If you have a smets2 smart meter - and your talking conventional wall mounted Night Storage Heaters - switched by your meter's restricted supply output automatically - you might want to consider Snug by Octopus.

Prior to Xmas it was offering an e7 beating 9p / kWh for 6 hours at night - and 1 hr in winter afternoons - like 3 to 4 pm from users posts - to top up your heaters - that might be more useful depending on your heater's generation - to make heat last into the evening.

https://octopus.energy/smart/snug-octopus/?

Have a read and see what you think.

Its still more expensive than obviously the dealy you signed up to 3 years ago - but at least not as much as the current e7 variable rates - night for me is almost a third off and even the day rate is 10% cheaper against their standard e7.

Octopus just quoted me   9p     night, 26.58p day and 54.57p Standing charge

Their e7 here in EM         13.4p          30.16p               54.57p

But your quoted rates       14.57         23.016 (you sure ? - who with - as thats cheaper than the current single rate cap)

A normal day rate on e7 would command a premium - as per the Octopus pricing above - whos Single Rate SVT 24.17p so as night down to 13.4 but to balance day up to 30.16p?)

(Note - Ofgem only set the total price based on a nominal 42% night use - and suppliers are free to choose day and night rates to suit - so e7 is still quite regional and also can be be very supplier dependent)

Sadly I need a meter upgrade - and I am used to running my old lossy NSH on e10 with afternoon and evening boost periods - so still not 100% convinced it's the right move even if could get my meter replaced in a short time.

Ildhund

Just a reminder: make sure you're comparing like with like. Some rates will be quoted ex VAT, others VAT inclusive, and the difference can swing the balance.

buckrogers

Scot_39

First of all, thank you very much for that info and taken the time to write all that information for me and answering my post,

We have Duo night storage heaters that come on at 12.30am at night till 7.30am morning in winter, the heat lasts quite good till around 10.00pm at night, our house is well insulated,  and have a smart meter that was installed 2 years ago.

The quote was from  Ecotricity

Unit rate

23.016p per kWh
Economy7 unit rate

14.732p per kWh
Standing charge

44.006p per day

buckrogers

Just went on Ecotricity , from MSE's Cheap Energy Club, came up differant

Day Tariff rate (does not include future price changes)

31.7p per kWh

Night Tariff rate (does not include future price changes)

8.05p per kWh

Standing charge

51.2p per day