Outfox Energy and Econ 7 - any pitfalls?

dave_dph

Ok, just another vote for UW - based on price. Just updated my spreadsheet with the new October prices - West Mids.

So my annual usage is:

895kwh day

5604kwh night

Annual cost with UW = £829.77

Octopus Snug would be in excess of £952. I wouldn't benefit by them moving a couple of hours cheap electric from the morning to the afternoon (when I'm at work), so in effect it would cost more than £952.

The next cheapest (based on standard tariffs) is with Eon Next Pledge, at £1253.88. 

So in effect I'm saving £424 by being with UW compared to the next cheapest option.

For reference, Outfox standard tariff would cost £1352.65.

I pay DD on receipt of bill, so never in debit or credit. Works for me!

lilac_dawn

dave_dph said:

Ok, just another vote for UW - based on price. Just updated my spreadsheet with the new October prices - West Mids.

So my annual usage is:

895kwh day

5604kwh night

Annual cost with UW = £829.77

Octopus Snug would be in excess of £952. I wouldn't benefit by them moving a couple of hours cheap electric from the morning to the afternoon (when I'm at work), so in effect it would cost more than £952.

The next cheapest (based on standard tariffs) is with Eon Next Pledge, at £1253.88. 

So in effect I'm saving £424 by being with UW compared to the next cheapest option.

For reference, Outfox standard tariff would cost £1352.65.

I pay DD on receipt of bill, so never in debit or credit. Works for me!

Is that on variable? Today the fixed rate for standing charge has gone up. 

dave_dph

Yes my figures are all variable tariffs.

lilac_dawn

OK thanks. I don't tend to like variables but am still deciding. The only other plus of not having such a high daytime rate is being able to switch on the oven and use the tumble dryer occasionally. With EDF, I managed some free electricity on a Sunday. UW don't seem to do anything like that so it really would be using the bare minimum during peak hours. 

dave_dph

Ideally you need to calculate figures using your annual kwh usage for both day and night. Then compare annual costs. In my case, night usage is about 86% across the year, and with UW's night rate being so low, nothing else comes close. If your night %age is lower than mine, then the savings will decrease due to UW's high day rate. 

I wouldn't worry too much about occasionally using the cooker / tumble dryer, if doing so matches your annual usage figures that you'll use for cost comparisons.

In my case, EDF's free electricty on Sundays would be of no benefit, as their tariff is so much higher to start with.

Swipe

Exactly, if do you sums you'll probably find that the savings on the night rate will far outweigh the extra cost of using heavy usage appliances occasionally during peak rate.

lilac_dawn

I have crunched the numbers it's just I am a slave to making sure hardly anything gets used during peak hours already - with UW any little luxuries like using the oven for an hour and the tumble dryer as a 'treat' (I kid you not!) will have to be forsaken. 

dave_dph

What are your annual day and night kWh usage figures?

Swipe

lilac_dawn said:

I have crunched the numbers it's just I am a slave to making sure hardly anything gets used during peak hours already - with UW any little luxuries like using the oven for an hour and the tumble dryer as a 'treat' (I kid you not!) will have to be forsaken. 

You said your usage figures are similar to mine i.e. 1200 day and 6000 night. In that case you will be saving at least £300 over Outfox. That's a hell of a lot of oven and tumble drier usage at peak rate. I do my laundry and run the dishwasher during the last 2 hours of off peak usage.