To tell you EDF have DOUBLED most of our electric tariff overnight

[Snorkers]

I am so mad, we're on Economy 7 as live out in the sticks with storage heaters that charge overnight and let heat out in the day.

EDF just nonchalantly advised they are DOUBLING my overnight rate from tomorrow and adding another 20% on to the daily standing charge which is now 57p. There's a small reduction in the daytime rate but this is useless to us as the house is geared up to use most of our electric at night - around 80-85% is drawn overnight. I don't think anyone else offers E7 now so we are stuck at the mercy of EDF's insane rises.

AIBU to think people on Economy 7, oil and LPG have been completely cast adrift by this useless government? Why are energy suppliers being allowed to do this?

To put this in perspective - Shell just posted $10BILLION in profits (not revenue, profit after everything else has been paid) for the last quarter - so over just three months of the year). EDF made £1.1billion in profit last year. Trebles all round.

😡
(Vent over thanks for listening)

Amazing! Thanks so much

We are EDF E7 too and our tarrif sounds completely different to yours? We are on the standard variable and I just logged and this is what they are now and changing to tonight (still sh1t but our daily standing charge is less?). Why would they be different - someone make it make sense. It's such a ridiculous state the energy is in.

I want to add - we don't really get much out of E7 APART from I have an electric car so I can charge overnight at a much lower rate than I can on most other tarrifs for a nice 7hr window.

I think from memory E7 tarrif arent protected by the energy price cap or whatever they call it
I was on it and swopped to the SVR as I don’t use much electric at night

Scottish Power still offer Economy 7 - I'm paying 34p standing charge, 24.4p day rate and 9.7p night rate at the moment.

Electric rates vary by region

We are on E9 with EDF (complex tariff, very rare, heating and hot water only on the E9 rate) and no-one offers this apart from them. It would require a (paid) meter change to move at all. Luckily, it's a very well insulated modern property and the bill isn't shockingly high. But it would be very difficult to move.

There was a scheme a few years ago to replace legacy meters. We had our old heatwise (five rate meter) replaced for free with an E10 smart meter.

You may need to talk to your legacy supplier if you have switched supplier but I think they have a duty to upgrade your meter to a smart one.

Ours saves us money as all of our electricity is now cheap during all off peak hours rather than just the heating for some periods.

E10 or E7 would save you money as you would get all of your electric at cheap rate during off peak hours.

EDF are losing so much money in France (where their charges are restricted to a 4% increase) that they are making up some of the shortfall here.

Wholesale prices are a massive con which the government is enabling to happen, meanwhile ripping us off even more by giving us back our own money as a subsidy!

Hence enormous profits.

Wholesalers charge huge amounts higher than actual costs. Until that stops, we are all screwed. But even Martin Lewis doesn't talk about that. Or the media.

@JesusMaryAndJosephAndTheWeeDon I never knew that - thanks!