Economy 7?

[mrs.chappie]

Does anyone know if Economy 7 really is economical to use?

I can remember being told, years ago, that you paid more for your leccy during the day, so you didn't really make a saving.

Any ABers on Economy 7?

[AlBags]

Most useful when you are using "storage" heaters or immersion heaters as there is a low tariff nightime and daytime boost. Not much else (officially)

[sophie_1003]

My boyfriend's mum was on Economy 7 but they are now on the new version of it. Previously she would only put the washing machine, dishwsher and tumble drier on at night so they only had to pay the lower rate for the electricity these used.

[mrs.chappie]

Thanks for replies.

[buildersmate]

"Is Economy7 economical to use?" - it really depends what you are comparing it to.
Its principle use is as a spaceheating solution, when it uses electricity at night to store heat in storage radiators. These then emit their heat during the day. Its advantage is that these are cheap to install compared to other forms of heating. That is about the only advantage. In terms of economy, the electricity used is about 2x more costly than oil or gas CH (but the price of oil is low right now).

This business about paying more for your electricity during the day. That is nonsense - with Economy7 you have two meters and two tariffs. The Economy7 meter clocks up the night use, the other normal domestic tariff is charged at the same price as anyone else who doesn't have Economy7 (and hence has just 1 meter). The price of day use electricity is approximately 2x the price of econmy7 electricity. This results in some customers having all of their domestic circuits running off the Economy7 meter at night, enabling them to save money on running the washing machine or dishwasher at night. But they have to plan carefully to make decent savings.
Ethel is one such ABer who does this - and may have more advice.
If you have any choice in the matter, do not use Economy7 - over the last 20 years it has consistently and reliably been one of the most expensive forms of spaceheating.

[mrs.chappie]

Thanks very much buildersmate, for that very helpful reply.

I am thinking of moving into a cottage in a village where there is no gas. The owner of the cottage has night storage heaters, and has told me Economy 7 has improved a lot since the days I had it, back in the eighties.

I am just wondering how it would compare against using gas central heating, for example (although of course I couldn't do that, seeing as there is no gas in the village).

Thanks again for reply. Appreciated. xx