PHEV2 & Economy 7

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PHEV2 & Economy 7

Post by » Fri Oct 23, 2020 9:29 am

Hello, New-boy here.

I'm a new owner of a PHEV 2 and seek advice on whether its worth changing my smart meter to Economy 7.

The Standing charge would be a little higher but my existing kWh cost would increase 25% from 16.3p to 20.5p to get a saving of 56% or 9.1p during the 7hrs from 00.30 to 07.30.

(We have no other existing overnight usage 'tho I guess we could run the washing machine and dishwasher etc overnight.)

We used about 6,000 kWh costing around £1,000 in last 12 months. So I guess my question is how much in kWH would I use each night with the PHEV 2 charging in the E7 period?

Also is "Departure Time" on the PHEV screen the latest time to stop the changing?

Many thanks. John C.

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Re: PHEV2 & Economy 7

Post by radar2018 » Sat Oct 24, 2020 7:26 am

Are there really tariffs that charge £0.20 ppKHw that has to be a TYPHO
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Re: PHEV2 & Economy 7

Post by djbobbins » Sun Oct 25, 2020 11:25 am

Not necessarily a typo. Electricity retailers buy wholesale energy in blocks and for “old style” customers where the shape of consumption is assumed between day and night, they will price accordingly.

However when the shape between day and night is known, the retailer can set prices cheaper overnight - but the consequence of doing so is a higher rate during the day. 20p/kWh seems a bit steep but bear in mind that wholesale prices for electricity in daytimes at the moment can be £80 to £100/MWh (I.e. 8 to 10p per kWh) and the wholesale only makes up about half of the overall cost of electricity sold to the end customer. The remainder is green subsidies, costs of operating the networks etc.

The granularity of pricing is going to get smaller - companies like Octopus are already moving in that direction. Sooner or later it will be a cost for every half hour.

To answer the OP’s question - it depends on how much electricity you are going to use in the daytimes and night times.

At the moment you use 6,000 kWh and it’s cost you £x. This is a good comparison but the historic cost is a moot point really, unless you can extend a contract at those prices.

The key questions are:

- what can you buy electricity for if you stick with your existing meter and a conventional single price tariff?

- how much electricity are you going into use on days and nights if you switch to a tiered tariff? Based on the tiered tariffs, you will then have a cost of:

(Say 2,800 kWh at 20p) = £560, plus
(Say 3,200 kWh at 13p or whatever the night price is) = £416

If you think you can move enough consumption into the overnight periods, it probably makes sense. How much electricity are you using to charge the PHEV on a regular basis??

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Re: PHEV2 & Economy 7

Post by AlanW55 » Sun Oct 25, 2020 4:18 pm

Assume you use X kWh per year charging your car.
If you don't change to E7, then cost = (6000 + X) x 16.6p.
If you do change, and assuming you only charge car and do nothing else at night,
then cost = (6000 x 20.5p) +(X x 9.1p)
Tipping point is when these two costs are equal, so X = 3,500 kWH.
At around 3.5 miles per kWh, this means around 12,000 miles. Will you do this mileage on pure electric power alone? I would have thought unlikely in a PHEV.
If you want to go ahead, I think you will have to consider running high consumption appliances in the night to make it worthwhile.
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Re: PHEV2 & Economy 7

Post by » Thu Oct 29, 2020 12:31 pm

Thank you all for your responses.

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Re: PHEV2 & Economy 7

Post by SeanNugent » Sat Nov 07, 2020 2:16 pm

Something like Octopus Go would surely be a better idea that that E7 rate.

4 hours @ 5p / unit (00:30-04:30)
20 hours @ normal rate

You can set your car to charge at the low rate (and washing machines / dishwashers) which should generally be enough depending on what rate you can charge at and how big the battery is.


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Re: PHEV2 & Economy 7

Post by radar2018 » Sun Nov 08, 2020 8:01 am

how did you manage that i thought that referals were banned on this forum
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