SMETS2 (Landis+Gyr E470) Economy 7 to single rate - webchat insisting on engineer visit and £432

Hi ​@Gclarkey ,

Bit of a snaggy one here! The best option right now is to accept having both registers set to the same rate remotely which OVO DOES support. If you ever choose to leave OVO, it is possible to have the Profile Class updated so that it shows flat rate to other suppliers.

It’s a billing system limitation more than anything else. Don’t pay the £432 unless you really want to.

Thanks Blastoise, that's really helpful and has saved me a pointless £432.

Happy to go with both registers set to the same rate, since the cost outcome is identical to a true single rate and it can be done remotely with no fee. That works for me.

One thing I want to get straight before I sort it: can the Profile Class be moved from 02 to 01 now while I'm still with OVO, or does that genuinely have to wait until I leave? I just want to be sure I won't get dropped back into multi-rate billing if I switch supplier down the line, so if there's anything I should note on the account now to make a future switch clean, I'd rather do it up front.

Also, what's the best way to actually get the same-rate tariff applied? Is that something a staff member here can flag to be actioned, or do I need to go back through webchat and quote this thread? Every chat so far has just tried to sell me the meter exchange, so a pointer to the right route would be great.

If memory serves… That can be explored at anytime. But it’s a back office job so it does take time.

Nothing can be done from here, unfortunately. Going back through webchat (or call them) and quoting this thread would be the option. 

This was written back in 2019, but so far as I’m aware, it still applies:

So the single-rate E7 solution is all that’s available at the moment without a meter exchange. A new standard meter would be in PC01.

If you were to opt for the cheap, quick and easy (but irreversible) change to single-rate billing, the meter would stay in PC02. This might mean that you would have to make contact with any new supplier in order to switch as opposed to being able to do it automatically online.

The whole MPAN system is in a state of flux at the moment and will continue to be so until next Spring at least, as the electricity supply industry moves in to Market-wide Half-Hourly Settlement (MHHS). I would expect any other change to an MPAN to take longer than usual, possibly much longer. If you’re able to hold off trying to have your PC changed, it might be a good idea to do so.  

Morning ​@Gclarkey and welcome to the OVO Forum!

I can see you’ve had correct advice from some of our members already (thanks everyone), so the only thing I’ll add is that, when you speak to our Support Team, tell them you’d like to move onto a ‘P2 to P1 tariff’.

Important: Get Support to calculate your annual usage, and compare it against the P2 (eco 7) rates and P1 (single rate) rates. In the past I have done many of these myself, and very often would find that economy 7 was still working out ever so slightly cheaper. It all depends on how the tariff rates are looking at the time, but my main advice is not to jump straight into a single rate plan without these calculations being done first.

Let us know how you get on.

There is a simple calculation that can tell you whether this will apply:

1. Find the consumption figures for peak and offpeak usage, e.g. by subtracting last year’s readings from this years. Find the offpeak proportion of the total.
2. On OVO’s Our prices page, click Electricity and then use the filters to select:
   ■   Meter type: Multi rate
   ■   Payment method: Direct debit
3. Scroll down to find the tariff you’re interested in, e.g. Simpler energy with the same rate for peak, offpeak and anytime. Note the Unit rate - call it A.
4. Scroll down to find the Economy 7 tariff you’re interested in, e.g. Simpler energy again. Note the Unit rate for both peak and offpeak and call them B and C.   
5. Work out (B - A) / (B - C). This will be a value between 0 and 1, probably between 0.3 and 0.4.

The value at (5) is the break-even point. If the number from (1) is lower, Economy 7 will be more expensive than single rate. If it’s higher, Economy 7 is less expensive. Any difference in standing charge will not usually be significant.

Most households use more electricity in winter, so it may be interesting to work out the proportion at (1) separately for April - September and October - March as well as for the whole year.
 

For my region, A = 23.90, B = 25.88 and C = 17.67. 
25.88 - 23.90 = 1.98
25.88 - 17.67 = 8.21
1.98/8.21 = 0.24

The differences in meter readings over the past year were:
Peak: 929
Offpeak: 308
Total: 1237
308/1237 = 0.25

… so really I shouldn’t be on the single-rate tariff. However, the difference in fuel cost is just 52p for the whole year, while the difference in standing charge is £2.03 with Economy 7 winning.