Economy 7 Electricity
What is Economy 7 and how does it work?
Economy 7 is a tariff that offers you lower cost electricity for a 7 hour period during the night. This means that any electricity you use during the 7 hour night period could cost up to 3-4 times less compared to electricity you may use during the day. To benefit, you will need to have an Economy 7 meter fitted.
However any electricity you use in the day on an Economy 7 tariff could cost 25% to 30% more compared to electricity you may use on our standard single rate tariff.
Economy 7 meters
If you want to have an Economy 7 tariff, you will need to have a two rate meter that records what you’ve used for the day and night periods. Unlike a standard tariff meter, a traditional Economy 7 meter usually has two rows of readings, one for the day and one for the night.
If your Economy 7 meter has been installed quite recently, it will probably have an electronic display screen. These meters will usually display the daytime reading - you will need to press a button to display the night reading.
Economy 7 hours
The Economy 7 cheaper rate period will be 7 hours falling somewhere between the hours of 10pm and 8.30am. The time period in which your 7 hours will fall, varies between different areas of the country, the type of meter you have, and may change at different times of the year; for example when the clocks change to British Summer Time (BST) and back in the autumn.
The best way to find out your exact Economy 7 hours is to look at your meter around the times shown on this map. As a supplier we do not have access to your exact off peak times.
To find out more you can call our free Energy Efficiency and Economy 7 advice team on: 0800 02 22 20 (free from most landlines) or 0330 100 8620 (included in any ‘inclusive minutes’ from mobiles).
Is Economy 7 the best solution for me?
To make sure Economy 7 is right for you and your home, take a look at our recommendations below:
- You use 35% or more of your annual electricity consumption at night
- Have storage heaters to heat your home
- You use an immersion heater to provide your hot water
- You set your appliances such as dishwashers, washing machines and tumble dryers to come on overnight, during your cheaper rate period.
Any electricity you use during the day will cost you more than if you chose our standard single rate tariff.
If there are people at home during the day and you heat your home and water using electricity, but dont have storage heaters or a hot water tank, then Economy 7 probably wont be the most cost effective tariff for you.
How to make the most out of Economy 7
Take a look at our top tips which could help you to get the most out of Economy 7.
- Heat water economically overnight by using an immersion heater with a timeswitch controller.
- Economy 7 works well with storage heaters that are set to come on during the off peak period. This will help to keep heating costs down
- You will get the most benefit if your home is well insulated
- Use plug-in or in-built timers with electrical appliances such as washing machines, tumble dryers and dishwashers so that they come on during the 7 hour off peak period, when electricity is cheaper
If you heat your home and water with gas, Economy 7 could still suit your lifestyle, provided you use the bulk of your electricity at night. For example, if you work shift patterns and are up during the night or if you tend to use very little electricity during the day.
Phone calls: Calling us on a 0800 number is normally free when you call from a landline but charges may vary if you use a mobile. Calling us on a 0330 number will cost you no more than 01 or 02 numbers from landlines or mobiles. If you get ‘inclusive minutes' with your package, calls on a 0330 number will be part of these.
