Electricity Meters Types

[iMCaan]

Hi

 

We just had services connected to our self build and was applying for a new electricity meter. One of the options on the form, is type of meter required, 1 or 2 rate. After some Googling, I think this is economy 7 and 10 meter types.

 

Economy 7 makes sense since different rates are applied as to when you use electricity (day or night (cheaper)). Is economy 7 an old technology replaced by smart meters? Should I request a SMETS2 meter?

 

Thanks

[SteamyTea]

My understanding is that SMET2 meters are the only ones fitted now.

 

An ordinary single rate meter can handle multiple rates, the 'accountancy' is just done in an office.  You will need to fit timers to individual devices, but that is probably cheaper than separate circuits.

 

I think, while we transition to a ToU tariff system over the next few years, there will be a lot of 'solutions' being pushed, no one really knows what the winner will be, but it will be a compromise.

[billt]

Economy 7 is just a tariff, no technology involved. I would expect that you will have a smart meter installed, you may not get a choice.

 

You should check the rates carefully. Economy 7 usually has a large increase in day rates; unless you use a significant part of your electricity during the night time period it can work out more expensive than a standard tariff.

[Conor]

Get a dual rate. I'm surprised they are not the standard now. You can have an normal tariff on a dual rate meter, but not the other way round.

[SteamyTea]

24 minutes ago, Conor said:

Get a dual rate. I'm surprised they are not the standard now. You can have an normal tariff on a dual rate meter, but not the other way round.

Good point.

 

26 minutes ago, billt said:

Economy 7 usually has a large increase in day rates

Mine is currently 40p day and 15p night.

That is the best differential it has been for years.

There is a strange way of working out the E7 rates though.  The price cap takes and average cost per household i.e. £1000/year on electricity.

The problem is that E7 heated properties tend to be smaller, so use less kWh overall, so they multiply the rates to get them up to the £1000/year (or whatever the amount is).

Just looking though my last 4 full weeks of data:

Last week was 72.4 kWh, £21.48

Week before 63.8 kWh, £18.40

3 Weeks ago 67.2 kWh, £20.02

4 Weeks ago 60 kWh, £17.53

5 Weeks ago 64.4 kWh, £17.97

 

Converting to overall unit prices:

Last week was 29.7p/kWh

Week before 28.8p/kWh

3 Weeks ago 30.1p/kWh

4 Weeks ago 29.2p/kWh

5 Weeks ago 27.9p/kWh

 

Mean price for that period is 29.1p/kWh

I am not 100% sure, but I think that includes meter rental at 65p/day and VAT.

I also don't know what the current price cap rate is for a non ToU supply is, is it 35p/kWh still?

 

 

Edited November 27, 2023 by SteamyTea

[iMCaan]

Good thing I asked the question. Thank you.

 

1 hour ago, Conor said:

Get a dual rate. I'm surprised they are not the standard now. You can have an normal tariff on a dual rate meter, but not the other way round.

Is SMETS2 a dual rate meter?

 

[SteamyTea]

Just now, iMCaan said:

Good thing I asked the question. Thank you.

 

Is SMETS2 a dual rate meter?

 

No, it is just the second iteration of some smart meters.

 

https://www.smartme.co.uk/smets-2.html

 

[iMCaan]

Thank you

[CalvinHobbes]

On 27/11/2023 at 13:24, Conor said:

Get a dual rate. I'm surprised they are not the standard now. You can have an normal tariff on a dual rate meter, but not the other way round.

What meter should I ask for? I see you are on economy 7 . 

[Conor]

Just now, CalvinHobbes said:

What meter should I ask for? I see you are on economy 7 . 

Just say economy 7 import / export meter. I think they are the same anyway.

[JohnMo]

On 27/11/2023 at 13:48, SteamyTea said:

Mine is currently 40p day and 15p night

You are on expensive rates.

 

Mine E7, is 13.67p night, 30.88 day and 60p standing charge.

 

All metered via a standard (Octopus) smart meter, which comes pre configured for E7 tariff times - our smart meter is actually dumb, due to zero communication with the outside world due to our location.

8 minutes ago, CalvinHobbes said:

What meter should I ask for?

You will have zero choice, you will get a stock smart meter. If it communicates with the outside world, they just change the settings to suit your tariff. If it doesn't it's either standard tariff or E7 - nothing else.  Been there got a tee shirt.

 

 

[dpmiller]

2 hours ago, JohnMo said:

You will have zero choice, you will get a stock smart meter.

 

No you won't.

 

No smart meters in NI...

[Conor]

The meter you get here is determined by the tariff you choose.

 

Fyi, we're on economy 7 and save about £300 a year compared to standard tariff. You need to shift a good 50% of usage on to the night time to make it worth it.

[JohnMo]

11 minutes ago, dpmiller said:

 

No you won't.

 

No smart meters in NI...

Wish this site would show people's location on your phone 

[SteamyTea]

3 hours ago, JohnMo said:

You are on expensive rates.

Just got my latest bill

 

Day Rate 30.71 p/kWh

Night Rate 12.27 p/kWH

Daily Theft Charge 70.1p/day

 

I have recently had the Ombudsman uphold a complaint against EDF and that totals 200 quid off my last 6 months bills.

 

And now I have another incorrect bill, so that will be another 50 quid back.

They are constantly estimating my bill even though they are getting automatic meter readings.

And as they put me on monthly billing, they have been sending me bills for a few days usage at a time.

How a company can get it so wrong, time after time, is just unbelievable.

 

 

[ProDave]

6 minutes ago, SteamyTea said:

How a company can get it so wrong, time after time, is just unbelievable.

 

If you want to switch to Octopus for a better service PM me for a referal code.

[Alan Ambrose]

FYI Octopus Agile is 13-21p 'off-peak' today, 26-32p 'peak' and 'peak is 4-7pm.

[SteamyTea]

35 minutes ago, ProDave said:

PM me for a referal code

I may well do that, shall see if I can get another 50 quid out of them first.

At the rate they have been paying out, I will be paying less for my electric than most people pay for gas.