Economy 7 Electricity
What is Economy 7 and how does it work?
Economy 7 works through a ‘two rate’ meter which gives you lower cost electricity for a 7 hour period during the night. This means that any electricity you may use during the 7 hour night period typically costs one third of any electricity you may use during the day. To benefit, you will need to have an Economy 7 meter fitted.
Any electricity you may use in the day on Economy 7 tariff could cost more compared to any electricity you may use on our standard single rate tariff.
More information about Economy 7
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 can display either the daytime or nightime reading - you will need to press a button to switch the display between the two.
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 supply number which you can find on your bill. This is what it will look like.
By using the above example and using the map below, this customer’s night hours (in the London region) will be 7 hours between 23:00 to 07:00
For North Scotland, South Wales and the South West, individual meters will have their own settings. If you are in an area where meters have different settings, the night hours should be shown on or next to your meter. For more information please contact us on 0800 073 3000 (free from most landlines) or 0330 100 3000 (included in any 'inclusive minutes' from mobiles)
For North Scotland, South Wales and the South West, individual meters will have their own settings. If you are in an area where meters have different settings, the night hours should be shown on or next to your meter.
To make sure Economy 7 is right for you and your home, take a look at our recommendations below:
- 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 night 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 don’t have storage heaters or a hot water tank, then Economy 7 probably won’t be the most cost effective tariff for you.
How to work out your Economy 7 night usage with our calculator.
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 cheaper night rate 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 night rate 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.
You will need to already be on Economy 7 and have either your Annual Statement or bills which will show your previous 12 month electricity consumption. It needs to be a full 12 months because your summer and winter electricity consumption may vary.
- Take a look at your annual electricity predicted costs which you can find on your annual statement.
- Step 1 – Enter your day units in kWh
- Step 2 – Enter your night units in kWh
- Step 3 – Select your region
- Step 4 – Click on 'Calculate' and you will have your % night usage
% night usage calculation
In your region, , you should be using at least units of your energy at night to be benefitting from Economy 7*.
You are using of your energy at night, therefore you are probably benefitting from Economy 7*, please call us on 0800 073 3000 to check. you may not be benefitting from Economy 7*, please call us on 0800 073 3000 to find out more information about Economy 7 or to speak to an advisor about changing your tariff.
*25% or below: Economy 7 is probably not the right tariff for you. Call us to find out more about our range of tariffs which could be more suitable for you and your lifestyle.
For existing customers:
0800 073 3000 (free from most landlines)
0330 100 3000 (included in any ‘inclusive minutes’ from mobiles).
*This calculation is based upon you being on an Economy 7 standard product. This can vary for Fixed Price Economy 7 products. If you would like to find out more information about Economy 7 or to speak to one of our advisors about changing your tariff please call us on 0800 073 3000.
*Currently an Economy 7 customer on our standard tariff with medium consumption of 4,600 kWh per annum (as defined by Ofgem in its Typical Domestic Consumption Values) would have to use a minimum of between 27% to 36% (depending on the area of the country in which they live) of their electricity at off peak times to make it more cost effective than being a standard single rate customer. These figures will necessarily vary according to the customer’s actual consumption, payment method and tariff.
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.