Why do I have economy 7????

[Multiplex]

Hi,

Just moved into a new property (built 2004) and am puzzled why we have an economy 7 meter?

It's a 5 bed house with a gas central heating system. No storage heaters of any kind...

My neighbour just did his nut when he got his electric bill of £250!

Are their any rules governing when economy 7 meters should be installed in new properties? It seems very strange to us that they should be allowed to do this!

Simon.

 

[masona]

My neighbour just did his nut when he got his electric bill of £250!

The last few bills may have been estimates and once a year (?) the electric meter caller read the latest reading so may have caught up during the year ??? Is the £250 a quarter reading ?

Are their any rules governing when economy 7 meters should be installed in new properties?

I have no idea, the only thing I can think of is to encourage the householder to use off-peak time.

 

[Stoday]

The fact that you have an economy 7 meter dosn't mean that you have to have an economy 7 tariff.

Get quotes & choose the cheapest tariff and cheapest supplier. Look here for help:
http://www.energywatch.org.uk/

 

[Malc]

Very odd. I used to be on E7 by choice since I used electric water heating in the summer when the boiler was off. Used to save about 10 quid per year. But most suppliers charge a higher standing order for E7, plus the charge more for daytime electric too. Why I don't know since the arguement for E7 is that electric is cheaper at night when there is spare capacity, so why on E7 is day more. No logic I suspect the answer is because they can they do.

Perhaps something is in the pipeline to change that which would make E7 economic for all, and thus encourage people to use timeclocks for dishwashers etc.

BTW I've just changed supplier and now the figures work that E7 costs me more than standard so I've changed back. You can do this by having the meter changed for about 50 quid or just opting to have the two readings added together, which is a lot cheaper, sometimes free.

 

[Stoday]

E7 is for consumers who use more than average at night. So if you have average night use, you should pay the same on either tariff. That means that the day rate has to be higher than the 24-hour rate.

However there are some suppliers whose day E7 rate is the same as their 24-hour rate.

You don't have to pay for a meter change to change tariff.

 

[Multiplex]

Ok, well my electric company has just agreed to change the meter to a standard one free of charge.

Still unsure why the E7 meter was installed in the first place though.

Simon.

 

[Lectrician]

Even if you only heat one tank of water a night, the extra standing charge works out equal with the cost saved.

 

[Malc]

Even if you only heat one tank of water a night, the extra standing charge works out equal with the cost saved.

Not always. I used to heat my water and run dishwasher, washing machine and tumble dryer at night. But with my new supplier, utility warehouse, it works out cheaper to be on standard rate. Since I'm using the E7 figures for last year this is an accurate figure. You need to work out the numbers, especially as on E7 you pay more for daytime units as well as the standing order.

 

[RacquelDarrian]

Some company's don't have a standing charge British Gas and Powergen are two.
Sweb also have a very hidden Tariff called 3 rate heating which is perfect for someone like me that works all day and wants really cheap electric at night.

 

[Thermo]

what happened to economy 1-6?

 

[plugwash]

sure BG don't have standing charges but where their E7 tarrif really stings you is on daytime use below the threshold level (they have a threshold level of use after which the price per unit drops dramatically)

 

[Malc]

Economy 7 is called this because you get 7 hours cheap electric. Before that it was called white meter as the night time meter was white and I think you used to get 8 hrs.

Most no standing order tariffs charge more for the first N units. Anyone using more than N will find that the end price is the same. All they do is take the standing order charge, divide by N and that's the markup for the first N units. And N is not a large number so I'd think only second homes would stand a change of benefiting

 

[RacquelDarrian]

My last gas bill, for the quarter, with British gas, was £2.97! Having no standing charge really benefits me.

 

[masona]

My last gas bill, for the quarter, with British gas, was £2.97!

What do you use the gas for, is it just the gas oven ?

 

[RacquelDarrian]

Hob and oven.