Economy 7
Legacy_user
Posts: 0 Newbie
in Energy
Does anybody know how many units of electricity one must use to save money on Economy 7 at night time? thanks
0
Comments
-
1 unit is about five times cheaper I believeIt pays to challenge0
-
Hi Juanita,
Not sure but I believe that your night time use should be at least 20% of your day time use to make Economy 7 worthwhile.Do It To Them Before They Do It To You0 -
Don't forget you can increase your night time use with the use of cheap plug in time clocks I use my washing machine, tumble dryer,dish washer etc during the night.0
-
although u get a cheaper rate during the night, your day rate is higher than that of a standard meter
you need to be using at least 60% of your total consumption during night (any 7 hours between 7 n 7 i think)
0 -
although u get a cheaper rate during the night, your day rate is higher than that of a standard meter
you need to be using at least 60% of your total consumption during night (any 7 hours between 7 n 7 i think)
Not so.
I’m on Economy 7 and have calculated my last bill’s consumption using London Energy’s Standard and Economy 7 tariffs.
Total consumption = 965 units
Day units = 781
Night units = 184 [23.56% of day rate]
London Energy’s Standard tariff
10.96 pence first 225 units
6.69 pence the rest
Consumption charge = £74.17
London Energy’s Economy 7 tariff
12.05 pence first 225 units
7.23 pence rest of day units
2.84 pence night units
Consumption charge = £72.55……………. £1.62 cheaper.
As I posted above…… Your night time use should be at least 20% of your day time use to make Economy 7 worthwhile.
Unless I've missed something :-/Do It To Them Before They Do It To You0 -
Hi FastflysUnless I've missed something
There is another element.
The standing charge for Economy 7 is usually higher than the charge for just having a single rate supply - though your own personal tariff may be a 'no standing charge' one.0 -
Not so.
I’m on Economy 7 and have calculated my last bill’s consumption using London Energy’s Standard and Economy 7 tariffs.
Total consumption = 965 units
Day units = 781
Night units = 184 [23.56% of day rate]
London Energy’s Standard tariff
10.96 pence first 225 units
6.69 pence the rest
Consumption charge = £74.17
London Energy’s Economy 7 tariff
12.05 pence first 225 units
7.23 pence rest of day units
2.84 pence night units
Consumption charge = £72.55……………. £1.62 cheaper.
As I posted above…… Your night time use should be at least 20% of your day time use to make Economy 7 worthwhile.
Unless I've missed something :-/
your units on the standard meter would work out at £63.36
making your Economy 7 meter more expensive by £9.19
am pretty sure your night rate has to be 60% of your total elec usage
0 -
your units on the standard meter would work out at £63.36
making your Economy 7 meter more expensive by £9.19
am pretty sure your night rate has to be 60% of your total elec usage
Crayola, your calculation is incorrect.
London Energy’s Standard Tariff
Total units = 965
225 @ 10.96 pence = £24.66
740 @ 6.69 pence = £49.51
Total charge = £74.17Do It To Them Before They Do It To You0 -
sorry - didnt account for your night usage
ur totally right and i am just thick and shall go bow my head in shame
0 -
Hi Smartasss
Yes, London Energy tariffs are “No standing charge” ones.
I’ve been on Economy 7 for 10 years. In that time I have been a customer of Eastern Electricity, Independent Energy, London Energy, PowerGen, Atlantic E & G etc., etc.
Most with a Standing Charge built into their Standard and Economy 7 tariffs.
In all cases Economy 7 has proved slightly cheaper for me.
I would however not recommend that anyone on a Standard meter change to Economy 7 if their ratio of day/night units are similar to mine [23.56%]. The saving per year does not in my opinion warrant it.
The original post by Juanita Ping asks how much electricity has to be used at night to make Economy 7 worthwhile?
I still stand by my original post – No less than 20% of your day time use.Do It To Them Before They Do It To You0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards