Signing Up New Contract With Energy Company

[newbie99]

Is it a good time to sign up to another company as our is coming up to an end soon. We are currently with "EDF blue promise March 2015". ?

The other question I have is that we out Economy 7 meters ( day and night). Previous to EDF we were with British Gas and the two meters are all treated as standard rate. But when moved to EDF they said we have to be on the Economy 7 tariff.

So can we go to other company and not having the Economy 7 rates as wd don't use much energy at night.

Thanks for your thoughts.

[newbie99]

My question really relates to the current fall in oil price. Does this have any effect on our electric and gas price?

[dance2trance]

Hello

You are in exactly same position as me. Last Sunday went to a energy comparison site, all the questions I had were answered and in minutes after pushing a button I had switched to a new supplier and will save £133 per year! I was mindful that energy prices might well fall because of World economic slow down and if you lock in to a long contract could be dearer in long term if prices fall. Switch it is dead easy.

[buildersmate]

You need to be careful about the rates charged because the unit charge for the day rate on Economy 7 is often higher than the single tariff day rate. It is typically hiked by about one penny a unit, but this becomes important if you are no longer using the main benefit of Economy 7 - the much less night time unit rate, which is often about one half the single tariff rate. People with night storage rads use this to their advantage, and night consumption forms perhaps 90% of their total electricity consumption.
For you that will not be the case, so I would seek out suppliers who will agree to charge equal day and night unit prices - or get the two meters combined, if you have no reason to need this arrangement anymore.

[johnny37]

economy 7 generally works out cheaper for people who are all electric if you do all you washing/drying/dishwasher overnight and storage radiators for heating. As already said the night rate meter and the day rate are not the same. Not really a benefit if your heating is gas. Any customer services person could work out the (approx) difference for you. They will need to know how much kwh you have used in the last twelve months.