Smart meters and Economy7

I am on Economy 7 - the daytime tariff is currently 15.314p compared to 13.335p for non-Eco7. When smart metering comes in, will you use a similar increase in price, or a decrease in off-peak price? Furthermore, as the rate variance will be at random times how do I know when to set the time switches on my appliances to make best use of the tariffs? Or is it all just one big con?

Hi @RickSalisbury - how do you mean the rate variance will be at different times? Do you mean in terms of our tariff? We always aim to make price increases equivalent, as our tariff aims to be equal for all our members. Bulb Labs are working on how our smart rollout will help you to make the most of your smart devices to save both energy use and money.

One of the changes that smart meters will bring in is the ability of the supplier to charge different rates at different times of the day - I think it works on 30minute slices. So it’s similar to the current Economy7, but that is set to change rates at specific times - which I know in advance - so I can set time switches for the washing machine, the dishwasher, and whatever else (the storage heaters, the water heater etc are controlled directly at the meter). How will I control these items when you introduce this sort of charging? Additionally, will you be increasing the “high” rate above the present to counteract the reduction in profit with the introduction of the “low” rate? If so, taking both points into account, how will that help me to reduce my consumption?

Hi @RickSalisbury. Bulb won’t be introducing different rates at different times of the day. Your rate will stay the same unless we inform you of a price decrease or price increase. This will be the same rate 24 hours a day. If there are any changes to our tariff then we’ll give you at least 60 days notice.

Thank you . I await with interest exactly how the smart meter use pans out eventually!