Is Economy 7 worthwhile?
Once upon a time, back when the cost of electricity was much lower per unit, the cheapest way to heat your home was with old style night storage heaters on an Economy 7 tariff. But with time time there’s many different options which might lead you to ask, Is Economy 7 Worthwhike?
So how did Economy 7 work?
Your old style storage heaters kick-in into gear overnight using the lower tariff, and then release that heat throughout the day.
The major problem with this arrangement is that in return for your lower night-time electricity rate (which you only likely use for your night storage heaters) your daytime rate would be
much higher than a normal standard tariff !
Most people are unfortunately blissfully unaware of this, and are therefore paying too much overall on their electric bill.
So what does this actually mean and is Economy 7 not worthwhile nowadays?
So, it’s basically a trade-off…you get a slightly reduced rate per unit of electricity for 7 hours, (midnight-7am) which you can utilise to charge up your storage heaters and save a few pennies
However, any electricity you use in daytime hours (7am-midnight) which is more than twice as long (17 hours) is sold to you a much lower rate per unit, than Economy 7
Also consider that in a domestic household today, we have many more electrical devices than we did 30+ years ago such as dishwashers, tumble dryers, computers, games consols, etc and these items really suck up electricity !
So what is the solution and what makes financial sense today?
Firstly, it’s time move away from Economy 7, and go for the lowest unit rate of electricity (24 hour basis)
This might mean finding a new supplier at the best rate possible, but we’ll do for you FREE it’s easy and it’s all part of the service ?
Secondly, it’s time to look at installing new storage heaters, that will save you a considerable of amount money on your electric bill and give you the CONTROL and COMFORT that old style storage don’t.
Introducing our GLOW Electric Heaters
Our GLOW™ electric heaters are generally considered the equivalent of old style night storage heaters, but actually work more like a standard central heating system.
Typically within an hour, you’ll only actually pay for 15-20 mins of electricity!
This is because the heaters are highly efficient at storing heat with the chamotte clay core, and saving it for later use…thus considerably reducing your need for electricity…Quality German engineering, owned and installed by a British company, what could be better?
So if you’re thinking “is Economy 7 Worthwhile or should I update or replace my night storage heaters?” then please do CALL US on 0800 193 4320 and lets have an informal chat or request FREE a brochure or book a FREE home survey, and let GLOW show you what’s available and what difference we can make to your heating bills as well as offering you COMFORT and CONTROL 24/7