Economy 7 - Is it worth it?

16
Found 3rd Aug 2015
Hi all,

I was wondering if anybody here is on an Economy 7 energy tariff. I am moving into a new place which already has an Economy 7 meter. Its a 2 bed flat and for just myself and my wife. We both work full time and will be using mainly evenings and weekends.

The flat doesn't have storage heaters however it does have a water tank, which I believe connects somehow to the Economy 7 meter. I have done my research which suggests to do the washing (dish and clothes) during the night. I guess we would come home for around 7pm and be using the energy 3-4 hours cooking and entertainment (tv etc). But then again we will be home all weekend.

Is Economy 7 really worth it? Is anybody here using it and finding it makes a big difference?

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16 Comments

I would love to know the answer to this as well as I have recently moved into a 3 bedroom house with an economy 7 meter. sorry for hijacking your thread op!

I have economy 7. 3 bed flat 6 of us living here. I pay £62 a month dd. my day bill is around £40 night £19 this is during the summer. This is when I don't use my storage heaters.
I put my washing machine on of a night. ( obv I use it during the day to ) dishwasher on of a night and charge everything up. We're I lived before. Between gas and electric I was paying £90 a month. So Deff find it a lot cheaper.

Are you able to work out how much it would be using your old itemised bills?
If not, it totally depends on how you use your electric. I used to be on economy 7 when I had storage heaters so would leave Turing on the dishwasher / washing machine until after midnight. Do you watch much TV? Will you use much electricity between getting home and going to bed?
You will generally pay more for electricity during the day / evening but get cheaper 12 - 0600 power, so you will need to offset your evening cost against your night time saving.

Dosn't the economy 7 tarrif only kick in after midnight??

I also used to have it in a flat (I don't think they fit them any more), and it was mainly used for the old storage heaters (heats them during night on cheap rate) and then gives out the heat during day.

Also get yourself some timers for washing machines- them with ovens use the most power!! on and hoover up after midnight too!!

use to have it when renting landlord said its 7 hours at cheaper rate, he said it was midnight to 7 in morning so use to as i had electric storage heaters set to warm up overnight.

I think the hours you get cheap might vary between suppliers? I get 10.30pm to 12.30am and then 2.30am to 7.30am. I use it for washing and tumble drying (most new appliances have a timer built in so you can delay start them) and I think it does save me money.

Anything at a discount has to be worth while. The first thing to do is to understand what you have from your supplier. Economy 7 is a term widely used, but there were as many differing tariffs as there were electricity companies (in the old days) these mostly were periods of low rate e.g. 11pm-6 am, 12pm - 7am etc, but some were split, mostly in north of England and Scotland, so you had Economy 10, this was three different periods in 24 hours, something like 7am to 10am , 2pm to 5pm and 10pm to midnight. Also worth noting that some change their timings with BST and some always remain at GMT, these are normally where a dual state meter is used.

I moved into a 2 bed house a year ago with Economy 7 still the energy package although it was normal central heating installed. I rang up the energy company, the cheap rate was from 1 AM TO 6 AM so I was supposed to turn into a night owl. I decided to pay for a meter change (£60) and my bills dropped by half. Money well spent but time varies with each energy company. Still unless your on night shifts cant see it saving anyone much anymore.

I'm on E7 ( Eon) I get 7 nightime hours of very cheap electric but the day rate is higher than standard tariffs. There are other similar tariffs even one where you get a 1 hour booster during the evening.

If you only have immersion heater then AFAIK E7 will not be the right tariff for you. How will you heat your home during winter is the next question. E7 will only be effective if you heat your home with something like storage heaters (like me) and do laundry etc during nightime.

What I would advise is contact the current supplier and ask them how much electric was used annually on both readings or ask for them to advise you based on your potential usage. There are several tools online to help approximate your annual usage.

HTH

googley2

I moved into a 2 bed house a year ago with Economy 7 still the energy … I moved into a 2 bed house a year ago with Economy 7 still the energy package although it was normal central heating installed. I rang up the energy company, the cheap rate was from 1 AM TO 6 AM so I was supposed to turn into a night owl. I decided to pay for a meter change (£60) and my bills dropped by half. Money well spent but time varies with each energy company. Still unless your on night shifts cant see it saving anyone much anymore.



thank you this really helped me. I'm on maternity leave currently and with two children under three, I am using most of my electricity during the day. Peppa pig is on all day and I am cooking and cleaning mostly before 7 and then hubby gets back and hardly any electricity is being used apart from TV. It's hard to do all these tasks during the night so I may just switch to a normal meter. thanks guys!

I can't stand the night storage heaters - they store **** all heat, it may work if you have a properly insulated house. But all the ones I've come across have been sorely inadequate for heating.

Economy 7 isn't that great as it varies in what hours you get the cheap rate on different tariffs. Better now to invest in solar panels and use the excess power to heat a heat store/hot water tank.

If you struggle with economy 7 you can also get an economy 10 tariff. We find it better over winter as I'm at home full time and we can put heaters, dryer etc on during the day and still get cheaper rate. You get three cheap rate time blocks through out the day, I think it's 1340-1640, 2040-0040 and 0340-0740 or there abouts.

Bigfootpete

I can't stand the night storage heaters - they store **** all heat, it … I can't stand the night storage heaters - they store **** all heat, it may work if you have a properly insulated house. But all the ones I've come across have been sorely inadequate for heating.



Mine (secondhand and free from someone on freecycle 3 years ago) work absolutely fine - yes they start to go cold about 9pm since I've had the greendeal external insulation fitted. Just need the roof to be upgraded and maybe change from double to triple glazed to complete the "greener home". Before the added external insulation they'd start to go cold about 6 or 7pm

E7 is only beneficial if you have some form of storage heating but the benefits increase/decrease depending on your lifestyle. If you are at home all day with a family, cooking, laundry etc then the benefits will reduce. If no family and at work with laundry during sleep time then your benefit will increase.

NO NO NO and NO again! They are absolutely useless. The do NOT warm the property, and they cost a lot to run. Being Economy 7 Electric it means you have to do your washing/drying/cooking between 12.30am till 7.30am.
You cannot use them as economical as Gas. Because if you have Gas heating, You are in control, if it gets to warm or cold.
With Eco7 if you use because it's a cold night, and the next day is lovely and warm, you can't just turn them on and off like the Gas.

Hi all,

sorry for the further question, I am now calling an energy supplier and asking about swapping my std meter to E7 or E10, since i have underfloor heating i plan to use at night.
They are saying i have to call electricians to install cabling once the Energy supplier replaces the meter? i thought that whatever is done, is done pre-installation at the Meter level and not further in?

Thanks
Tiago
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