Economy 7 tariff vs single rate tariff

Rich1964

Moved into a house earlier this year which has a economy 7 and therefore our bills are charged using two different tariffs based on usage, ie a night and a day rate. However, I don't have anything that takes advantage of the lower night rate - Would the billing rate on a single tariff plan be cheaper than the current day rate as I can't seem to get hold of any single tariff info? 

Qyburn

It should be less than the E7 day rate.  See for example Octopus pricing for our location which is N Scotland.  If your meter is on "the system" as E7 most suppliers won't quote anything else online, you'll need to speak to them to see how they want to handle it.

dunstonh

Rich1964 said:

Moved into a house earlier this year which has a economy 7 and therefore our bills are charged using two different tariffs based on usage, ie a night and a day rate. However, I don't have anything that takes advantage of the lower night rate - Would the billing rate on a single tariff plan be cheaper than the current day rate as I can't seem to get hold of any single tariff info? 

Depending on your E7 pricing, you need around 30-70% overnight to be cheaper than the single rate.    The lower the overnight rate, the more expensive the day rate is.
You have one example of pricing in the post above.  Ours is 5p / 38p.   So, ours would need more off peak use than the one above would need.

Converting to single rate is easy with most suppliers.   They will keep you on two registers (off peak/peak) but apply the same single rate to both registers.

You can find the pricing for single rate by using a third party comparison site and put in the figures as if they are single rate.  You can then look at the unit pricing on the results to get an idea of the difference.

Scot_39

Rich1964 said:

Moved into a house earlier this year which has a economy 7 and therefore our bills are charged using two different tariffs based on usage, ie a night and a day rate. However, I don't have anything that takes advantage of the lower night rate - Would the billing rate on a single tariff plan be cheaper than the current day rate as I can't seem to get hold of any single tariff info? 

Most big suppliers charge (Octopus used to discount sc c2% per fuel iirc) pretty much tge Ofgem cap rates on single rate.

But as above suplliers are free to set tge off peak peak balance around the Ofgem total cap for e7.

The previous occupants may have as above been billed on single rate - but suppliers will default to meter type as installed codes in many cases - so show you e7 when ask online.  You'd need to phone some.

See current and Jan Ofgem single electricity rates by region here as a guide.  


https://www.ofgem.gov.uk/information-consumers/energy-advice-households/get-energy-price-cap-standing-charges-and-unit-rates-region

WiserMiser

Go to unravelit.co.uk and tell them that you have a standard (non E7) meter and they'll quote for single rate.  Remember to search the whole market by clicking on the inconspicuous Show Filters icon.

QrizB

Rich1964 said:

Moved into a house earlier this year which has a economy 7 ... I don't have anything that takes advantage of the lower night rate - Would the billing rate on a single tariff plan be cheaper

What are the rates on your current tariff?

Over the period that you've been in the house, how many kWh have you used on each of the rates?

Rich1964

Thanks to all for responding - Day rate is 29.97p per kwh and night is 13.62p per kwh with standing charge of 39.43p per day 

Scot_39

What deal are you on with such a low SC ?

Youd need to be careful about factoring in the SC to any total cost comparisons.

Its c5p cheaper than the Ofgem table for cheapest region (Southern) - and about 15p cheaper than the UK average.