Night rate/Day rate.
dobbiesloan
Posts: 2,211 Forumite
in Energy
Can someone settle an argument between my sister and myself.
She moved into a house that once had storage radiators and still had the day/night meter. She had it taken out as she is convinced that the electric companies charge a higher day rate to make up for the money they loose on the cheaper night rate.
Is she right? Scottish rules if there different
She moved into a house that once had storage radiators and still had the day/night meter. She had it taken out as she is convinced that the electric companies charge a higher day rate to make up for the money they loose on the cheaper night rate.
Is she right? Scottish rules if there different
GONE ENGLAND
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Comments
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Yes, she is absolutely right - and usually a higher standing charge too. ECO 7 only makes sense if you can use most of your electricity in the off peak time - or if, for example, you have solar panels so use little daytime electricity anyway.0
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She is partially right. However, the difference is very small. So, they are not making up what they lost at night rate.
She didnt need the meter removed. You can go onto a single price tariff using an E7 compliant meter. You just give both readings and day/night get charged the same rate.
You need about 1/3rd of your use during the night rate for E7 to work out cheaper.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
She is partially right. However, the difference is very small. So, they are not making up what they lost at night rate.
She didnt need the meter removed. You can go onto a single price tariff using an E7 compliant meter. You just give both readings and day/night get charged the same rate.
You need about 1/3rd of your use during the night rate for E7 to work out cheaper.
Very true. I can't remember the last time I lived somewhere without an E7 meter but I've never been on an E7 tarrif (and have been paying electricity bills for around 30 years! ).0 -
E7 tarriff deals aren't very good, so that is another good reason, not to be on E7 if you don't need to be0
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Eco 7 prices are constantly moving as are single rate but at the moment in my area at least, its cheaper to be on an Eco 7 with day/night reads than a single rate tariff..Yes, she is absolutely right - and usually a higher standing charge too. ECO 7 only makes sense if you can use most of your electricity in the off peak time - or if, for example, you have solar panels so use little daytime electricity anyway.
Eg , based on 3000 kwhs with Symbio , the cheapest in my area with a split of 2000 kwhs day/1000 night it is cheaper to be billed Eco 7 two rate than 3000kwh s single rate.
Eco 7 prices day =13.35p/kwh night =11p/kwh 10.50 dsc..total for year is £415
single rate billing for 3000 kwh s =day 13.41p/kwh, dsc 10.50 dsc total for year is £440.
So Eco 7 trumps single rate , at least in South Yorkshire..
Advice is to consult ,, say Ukpower.co.uk trying your annual estimated in both Eco 7 and single..
Bulb are also in the running for cheapest UK rates on 3000 kwhs on Eco 7 at a total of £465 , less the £50 referral fee0 -
They are good in my area..Day 13.35p/kwh night 11p kwh DSc is 10.50 p. That is with Symbio ..E7 tarriff deals aren't very good, so that is another good reason, not to be on E7 if you don't need to be
Bulb and Yorkshire Energy are also giving rates which can beat single rates even with low night rate usage.
The old advice that Eco 7 is always dearer may not be true.
.Consult a comp site to get the truth0 -
dobbiesloan wrote: »Can someone settle an argument between my sister and myself.
She moved into a house that once had storage radiators and still had the day/night meter. She had it taken out as she is convinced that the electric companies charge a higher day rate to make up for the money they loose on the cheaper night rate.
Is she right? Scottish rules if there different
Depends. Varies by supplier & region
Hopefully she consulted a comparison site and made an educated decision.0 -
Yes, she is absolutely right - and usually a higher standing charge too. ECO 7 only makes sense if you can use most of your electricity in the off peak time - or if, for example, you have solar panels so use little daytime electricity anyway.
Whatever has happened to this forum???
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Nonsense. Sorry, but that really is total nonsense.
Agreed. If you use a significant portion of power overnight E7 deals will be better. Years ago, last time I bothered looking, the break-even point was 35% or more at night. No idea what the figure is nowadays, but I'm around the 20% mark.
Annoyingly, some comparison sites work out that you have an E7 meter and insist on showing only E7 tarrifs. Utterly stupid.0
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