Hi, if I have an economy 7 meter am I at a disadvantage in terms of the rates you charge? I have storage heaters and never use them but seem to pay an awful lot.
Hi @annemarie3956 , apologies for such a late response. It is initially difficult to tell whether it is a disadvantage to have a Day and a Night tariff, as it really depends on your usage patterns. As you mentioned, you don’t really use your storage heaters, so then I would say having an Economy 7 meter is not really beneficial. However, during the winter most people start using those heaters a lot more (very understandable), which then makes the case again to have a lower Night tariff.
The rule that normally is easiest/best to apply is: if you are using, on average, more than 1/3 of your usage at night (i.e. 00:00-07:00), it is beneficial to have Economy 7 meters. If this is not at all the case, it might indeed be better to have a 1-rate credit meter, but this would costs to get it replaced if the meter is not faulty. Currently, that costs 120 pounds with us.