in an attempt to reduce the CO emissions of my home, I am considering replacing my 12 year old oil boiler which I only use to heat hot water with a direct unvented hot water store powered by immersion heaters (x2 @ 3kws).
I am choosing a direct tank because I have no other heat source and, at least in the short term, I do not anticipate there being one.
In so doing my electricity usage would increase, so in an attempt to mitigate some of the price difference between heating water with electric as opposed to oil, I wonder if, as an existing OVO customer is it possible to switch from a Two Year Fixed Energy Plan, single rate, which ends 14/11/19 to a dual tariff Economy 7?
At present my property is served by single tariff meter. I presume that If it is possible to switch tariffs this would require a meter change to enable the dual rate. Would this be undertaken by OVO, and if so what would be the timescale and price?
Please would you direct me to where I can find the rates on the Economy 7 Tariff for Devon?
Best answer by Ed_OVO
It's worth doing some calculations on your general usage, as the Economy 7 day time rate is usually a little higher than the single rate, meaning that some customers don't benefit at all from having Economy 7 installed. We often say if roughly 30% or more of your electricity usage is at night, then it would be worth getting Economy 7.
There's lots of information on Economy 7 and what to expect here.
You're quite right, you would need to have a new meter installed to benefit from Economy 7. You can choose a standard meter, however this would come at a charge of £106 (£325 if you have a three phase supply). Alternatively, you could get a smart meter installed free of charge, and then we can remotely change it to Economy 7. You could book this in here.
Finally, yo find out your rates for Economy 7, you'd need to have a look on the quote system here and choose the Economy 7 option when you come across it.