Gas and Electricity Guide

Economy 7

Economy 7 is a tariff offered by UK electricity companies.  With Economy 7, you pay a different amount for your energy according to the time of day.  Economy 7 customers pay a cheaper rate during the off-peak night time, which is often a 7 hour period, hence the name of the tariff.  The discount hours are usually 1am to 8am during winter, and 2am to 9am in summer.

•    Can I cut my bills with Economy 7?
•    How does Economy 7 work?
•    How do I switch to Economy 7?

Can I cut my bills with Economy 7?

To cut your bills with economy 7, you will need to schedule around 20% of your energy consumption during the cheap nighttime period.  Economy 7 users often set their boilers and night storage heaters to automatically switch on during the cheaper night-time period.  With economy 7, it is also wise to operate appliances such as washing machines and dishwashers during the night.

How does Economy 7 work?

Households using the economy 7 tariff require a special meter which shows two different readings - one for the day and one for the night. The wiring in the house does not need to be altered – but you may have to get the special economy 7 meter fitted. To save money with economy 7, your appliances require the intelligence to turn themselves on and off at the right times.

How do I switch to Economy 7?

If you are already on an economy 7 tariff, you could save money simply by switching to a different supplier.  You can compare economy 7 tariffs using energyhelpline.com.  If you don’t have an economy 7 meter, you’ll need to have one installed, and then you can compare rates with energyhelpline.com and switch online.