Economy 7

BKD1972
BKD1972 Posts: 43 Forumite
First Anniversary First Post
in Energy
Good Morning
I'm buying an apartment that has Economy 7. However, it doesn't have storage heaters (not sure if it did have and they were replaced) so it defeats the object I think. i'd only be utilising the cheap rate with washing clothes through the night. Any heating would be outside cheaper rate hours so expensive as would all my other electric use (I dont watch TV through the night etc). It seems that moving away from Economy 7 would be better for me.

I'm not sure if the meter is linked into the central heating system. If so, can the meter be changed?

If the meter cant be changed Is it possible to switch to a single tarriff?

Thankyou for any help.
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Comments

  • jk0
    jk0 Posts: 3,479 Forumite
    Name Dropper First Anniversary First Post
    Does it have gas heating, then?
  • BKD1972
    BKD1972 Posts: 43 Forumite
    First Anniversary First Post
    jk0 wrote: »
    Does it have gas heating, then?

    No. Electric heaters that arent storage heaters so pretty much pointless being on E7
  • Haarlem
    Haarlem Posts: 345 Forumite
    First Post First Anniversary Combo Breaker
    BKD1972 wrote: »
    Good Morning
    I'm buying an apartment that has Economy 7. However, it doesn't have storage heaters (not sure if it did have and they were replaced) so it defeats the object I think. i'd only be utilising the cheap rate with washing clothes through the night. Any heating would be outside cheaper rate hours so expensive as would all my other electric use (I dont watch TV through the night etc). It seems that moving away from Economy 7 would be better for me.

    I'm not sure if the meter is linked into the central heating system. If so, can the meter be changed?

    If the meter cant be changed Is it possible to switch to a single tarriff?

    Thankyou for any help.

    Do your sums before you ditch E7.

    I have E7 and no electric heating. I get the cheap rate 1.00am to 8.00am (East Midlands) all year round and easily achieve a saving. With our life style we get 35% on average for the year at the cheaper rate and save around £60 a year. How is your water heated?.

    There are some good E7 tariffs for our area around, and the savings have got better over the last few years.
  • poppasmurf_bewdley
    poppasmurf_bewdley Posts: 5,909 Forumite
    Name Dropper First Post First Anniversary
    edited 21 October 2019 at 10:02AM
    Are you sure you haven't got underfloor or ceiling heating? Both run on E7. I've had flats with both over the years. Is there/Are there thermostats on the wall?
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • BKD1972
    BKD1972 Posts: 43 Forumite
    First Anniversary First Post
    Haarlem wrote: »
    Do your sums before you ditch E7.

    I have E7 and no electric heating. I get the cheap rate 1.00am to 8.00am (East Midlands) all year round and easily achieve a saving. With our life style we get 35% on average for the year at the cheaper rate and save around £60 a year. How is your water heated?.

    There are some good E7 tariffs for our area around, and the savings have got better over the last few years.

    Thanks for your reply. The EPC says electric immersion (off peak) for the water heating.

    I just thought that with not having storage heaters I'd be using them as an when at the higher rate and everything else other than washing machine would be higher rate i.e TV from about 6-11 each night, set top boxes, PC/laptop, fridge, lights.
  • BKD1972
    BKD1972 Posts: 43 Forumite
    First Anniversary First Post
    poppasmurf_bewdley wrote: »
    Are you sure you haven't got underfloor or ceiling heating? Both run on E7. I've had flats with both over the years. Is there/Are there thermostats on the wall?

    There's no underfloor or ceiling heating.

    The plus is its top floor so i'll get the heating from the two flats down below :)
  • Talldave
    Talldave Posts: 2,002 Forumite
    First Anniversary First Post Name Dropper
    You don't necessarily need to change the meter to not be on an E7 tariff, many suppliers can happily add two readings together to bill on a single tariff.

    More worrying is that you're buying a flat on which you're unsure if the heating is going to bankrupt you? That said, the free heating from the neighbours is handy. A couple of years ago I was in a "middle" flat and was insulated on four sides; heating bills were amazingly low!
  • Gerry1
    Gerry1 Posts: 9,936 Forumite
    Name Dropper First Post First Anniversary
    Oh dear, if you're all electric you'll have massive bills. Don't change the meter: many suppliers will happily add up both readings and charge a single tariff.

    However, keep a close eye on your meter readings and keep checking from time to time whether a single tariff or E7 is cheaper.

    Yorkshire Energy might be a good start: they are cheap and good, and they are competitive at low (25%) levels of off-peak usage. Their bills are extremely clear and are sent within a few minutes of you supplying your meter readings.

    Update: Just seen Talldave's post. Telepathy is at work...
  • Biscuit_Tin
    Biscuit_Tin Posts: 782 Forumite
    First Post First Anniversary Combo Breaker Name Dropper
    BKD1972 wrote: »
    Good Morning
    I'm buying an apartment that has Economy 7. However, it doesn't have storage heaters (not sure if it did have and they were replaced) so it defeats the object I think. i'd only be utilising the cheap rate with washing clothes through the night. Any heating would be outside cheaper rate hours so expensive as would all my other electric use (I dont watch TV through the night etc). It seems that moving away from Economy 7 would be better for me.

    I'm not sure if the meter is linked into the central heating system. If so, can the meter be changed?

    If the meter cant be changed Is it possible to switch to a single tarriff?

    Thankyou for any help.
    BKD1972 wrote: »
    No. Electric heaters that arent storage heaters so pretty much pointless being on E7

    So what forn of central heating does it have? :huh:
  • Biscuit_Tin
    Biscuit_Tin Posts: 782 Forumite
    First Post First Anniversary Combo Breaker Name Dropper
    edited 21 October 2019 at 10:37AM
    BKD1972 wrote: »
    Thanks for your reply. The EPC says electric immersion (off peak) for the water heating.

    I just thought that with not having storage heaters I'd be using them as an when at the higher rate and everything else other than washing machine would be higher rate i.e TV from about 6-11 each night, set top boxes, PC/laptop, fridge, lights.

    It's up to you. It's going to cost you an arm and a leg trying to keep the place warm with normal rate electricity, as you accept. But at least you could save a bit on your hot water. :money:

    I'd think very carefully about proceeding with the purchase, or at leasr allow in the purchase price enough money so that you can install a heating system that you can afford to run.

    Any expenditure in upgrading the heating will be reflected in the resale value whenever it is resold.

    Don't be tempted to put the car before the horse. Decide what form of afforadble heating you plan to install (if you do ahead with the purchase) and then decide what is the best energy tariff(s) for you.

    As mentioned above by another, E7 can be cheaper even for very low (or in some circumtances, zero) overnight usage.
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