Understanding cent per kWh energy rates

unimaginativeusername

Hope this is the right place to put this.

Like everyone, I am concerned about the energy crisis. I have the opportunity to switch energy providers and avail of new customer discounts (100% electric with Bord Gais).

But I am a bit bamboozled trying to figure out best option and it's the cost per kWh that I am wondering about.

Option 1: 24 hour rate at 20.17c per kWh

Option 2: Day rate 21.70 cent per kWh, night rate 10.74 cent per kWh

I am wondering how much difference that 1.53 cent (24h v day rate) makes in real terms? I know it's likely how long is a piece of string but assuming moderate/reasonable usage in a 2 bed apartment.

I'm tempted by option 2 as at least I have the option of a cheap nighttime rate for the likes of the washing machine but if the majority of my usage will be at peak times, is it worth it? Any advice would be welcome please.

Thank you,

K

kennethsmyth

https://www.boards.ie/discussion/2058263285/understanding-cent-per-kwh-energy-rates

Couple of things before you make a decision.

1. Do you have a day/night meter already?
2. Are those rates including vat - be sure.
3. Do you do at least 50% of your usage between 12am and 8am. (changes with dst but this covers it approximately).
4. Do you own an electric car - if you do day/night meter is a good call.

unimaginativeusername

Thank you for taking time to come back.

The metre is standard and the apartment I live in has been on the day/night rate previously with Energia but there were storage heaters in the apartment until recently - they're now just electric eco heaters installed.

Those rates do include VAT - thank you for flagging that.

I definitely don't do 50% of usage at night and I WFH three days a week as well. I would just use appliances like the washing machine at night if on a lower night rate.

I'd love to have an EV but no.

Sounds like with the above considerations, you'd be suggesting the 24 hour rate?

I really appreciate the feedback as it's very confusing and I feel like it's just me that doesn't have a notion!

Girl Geraldine

24 hour rate unless you use storage heaters or charge and EV at night, or have any other sort of significant load at night time.

Washing machine wouldn't use a significant amount of electricity unless you were doing mega washing with it.

What people need to be aware of is that there is also a higher standing change for a day/night meter. That eats up any savings unless you are using a lot of energy consistently at night.

TheWonderLlama

really, you need to do an exercise, get the last 12 months bills and total up the amount of daytime units used versus the number of night time units used.

This will give you a better idea of your overall day/night usage over a full year.

If, as you say, most of your usage is during the daytime, then you should go for the lowest day time rate available, whether it is single rate or day/night.

Stay well away from smart tariffs as they have a premium for usage between 5 and 7pm.

If, on the other hand, like me, your usage tends to be 50:50 day/night, then a good day/night rate is probably better overall.

Fishdoodle

https://www.boards.ie/discussion/comment/119621108#Comment_119621108

Based on your usage - you'd be better off sticking to the 24 hr rate. A 50% usage rate at night isn't necessary to benefit from night rates btw.

Eco heaters ...never mind the word 'eco' -when buying an appliance- look to see the products consumption in kwh. It takes the same amount of electricity to deliver equivalent heat output from an oil rad as it does a convection rad. How they operate can save costs - thermostat shutoff for example.

unimaginativeusername

I really appreciate everyone's input here. I've been quite fearful about what's to come but this has cleared up some of the doubt about what route to take.

Sounds like 24h is best bet for me seeing as the storage heaters are now gone as they'd have been the only reason to keep day/night.

And then the plan is to switch providers every 12 months after!!

Thanks all