Economy 10, Economy 7 or Standard

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  • #2186
    MarcusR
    Participant

    Yes that’s what their online chat said to me yesterday and it is also what their web site states but I have applied and they have sent me a welcome pack with high and low rates (!) so I have queried it. I’ll let you know the outcome.

    #2185
    Michael
    Participant

    Bulb support e10 on a single rate tariff, I have had it confirmed by their social media team in the past. Let us know how you get on, any saving is always better in your pocket????

    #2184
    MarcusR
    Participant

    Hi Michael
    Thanks for that and what you say makes sense. My usage is around 50% off peak and comparing Economy 10 with a standard single tariff from the same supplier I am saving 25%.

    However because other suppliers are considerably cheaper for Economy 7 and/or single tariffs there are still considerable savings for me to make by moving away from Economy 10.

    I have been in discussions with Bulb Energy and I am waiting clarification as to whether they will only supply me on a single tariff but with my economy 10 meter (i.e. I supply them two readings) or whether they will supply me with an Economy 7 tariff on my economy 10 meter.

    Either way I can save between 24 and 29% against my current supply costs.

    If they do confirm Economy 7 pricing for Economy 10 I will update this post, submit my quotes and let Mark know.
    Talking of which my thanks to Mark for this excellent site. That with help from the forums has set me on a road to significant savings.

    #2183
    Michael
    Participant

    Hi Marcus

    Economy 10 is only beneficial if you are maximising your energy usage during the off peak periods i.e running your heating, hot water boiler, washing machine/tumble dryer during these hours as you do pay a higher than standard rate for usage outside these hours. If the vast majority of your usage is not during the off peak hours then you may well benefit from a single rate tariff. Using myself as an example I use 80% of my electricity off peak so economy 10 is the best option for my usage and saving over £100 on the cheapest single rate tariff. You would probably only benefit from economy 10 if you are using a minimum of 50% off peak.

    #2182
    MarcusR
    Participant

    Hi

    Hope someone can advise.

    I have an air source heat pump and hence, when installed, I was recommended to get Economy 10 and went with SSE. However they are now uncompetitive and having looked at various options it seems to me that the so called Economy tariffs are actually all more expensive than the standard single meter type tariffs.

    In all cases I used my actual last 12 months consumption and where necessary allowed for 5% VAT and variations in standing charges etc.

    I have looked at EDF and Green Energy UK as examples of other non SSE affiliated *FULL SUPPORT* suppliers and I have run general comparisons through Compare the Market and USwitch and whilst EDF and Green Energy would show savings the cheapest options, and there were several, were not to go Economy 10 or Economy 7 but just to opt for a standard single tariff!

    Avoiding the detail of the numbers I found the percentage savings interesting.
    Economy 10 with a *FULL SUPPORT* supplier I can save around 14% (maybe more still waiting for confirmed quotes).
    Economy 7 maybe 18% although I appreciate thats based on different hours.
    Just standard rate and I can save 25%+.
    So it looks as though it might be well worth changing to one of the suppliers who are happy to combine the reading?

    Am I missing something or is the whole ECONOMY thing just no longer a money saving option?
    Many thanks for any help anyone can offer.

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