Over the last 6 months I have gone through trials and tribulations in installing an overnight meter.with a reduced rate. Successfully done. However…
despite the ambitions of this, which was to use overnight green electric where the grid is low but still being fed by wind etc and yes - its a pain in getting all your schedules changed to use timers for the washing machine, dishwasher, tumble drier etc to run overnight I found that there was no economic benefit as Bulb simply increased my day time rate. Is it only me that finds this a little curious for an organisation that is promoting the use of green wherever possible? Bulb - is this a policy which you think is fair and more importantly do other Bulb users find this fair? [BTW - the 6 month experiment of me using overnight electricity resulted in no significant saving on my part (75p per month) due to this policy]
I’m a single tariff customer.
My initial thoughts were that your circumstances and anyone else on a two tariff arrangement was that it was not fair to increase the day tariff rate.
Until logic came into play, if there wasn’t a differential between the day rate for two tariff customers and single tariff customers then all single tariff customers would just as well change to two tariff for their energy.
Also as a single tariff customer it also means that I am not paying to help someone on a two tariff arrangement charge up their EV during the night. Should add I’m all for charging up EV’s to help the environment.
Any thoughts on my comments as to why economy 7 day rates are justifiable higher than the standard (i.e. single) tariff?
If you search the Internet you will find advantage and disadvantage of ecomcony 7 , one article mentioned it is cost effective if you use over 50% of your energy during the night.
I hope I am allowed to post this link https://www.moneysupermarket.com/gas-and-electricity/economy-7-meters/ to support to what I wrote earlier:
The logic behind an Economy 7 tariff and a single tariff being priced as they are is so:
Single rate tariffs are priced an average of the day and night based upon the average consumer of electricity using about 75:25 (day:night)
The Economy 7 tariffs are priced reflective to the cost of the energy in the actually time slots as electricity at night is cheaper to purchase compared to the energy during the day and peak hours.
That’s why if you use something in the region of 40-50%, as @Allanr of your electricity at night, then you’ll notice a saving on your bill. The pay off compared to the cost of the meter is mostly likely if you shift a significant amount of usage to the night time, which may be limited to the appliances mentioned.
If you had an electric car or storage heaters, you’re mostly like to see the huge benefit of the E7 meter.
Yeah, as others have said you have to use a significant amount of energy at night for it to be worth it. Bulbs setup currently makes it hard to track as well, so I monitor it myself. I see significant savings, but both of Bulbs recent price hikes have gone up more for night than the day.
Average cost per day on Bulbs regular tarrif would be £4.06 / day, so E7 saves me £1.18 per day.
I’m also on E7, and I do make a (negligible) saving as my electricity usage is higher over night (approx 50%) due to the timed charge of my electric vehicle.
I’d love to just plug in and charge whenever I’m at home, however 99.99% of the time it’s unnecessary and I feel it puts excess strain on the grid at peak periods.
I don’t know if this will change when a second EV arrives in the household and it becomes restrictive to rely on a seven hour window to complete a charge cycle shared between two cars - but right now, it works.
I'm also on E7, and I do make a (negligible) saving as my electricity usage is higher over night (approx 50%) due to the timed charge of my electric vehicle. I'd love to just plug in and charge whenever I'm at home, however 99.99% of the time it's unnecessary and I feel it puts excess strain on the grid at peak periods. I don't know if this will change when a second EV arrives in the household and it becomes restrictive to rely on a seven hour window to complete a charge cycle shared between two cars - but right now, it works.
If you get two chargers it’s probably not a big deal.