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Economy 7
Economy 7 tariffs work by offering cheaper electricity at night (an ‘off-peak’ rate).
- Heat with storage heaters
- Heat your water efficiently
- Save money on appliances
- Cheaper electricity at night
- Boost feature for fast heat
- Save more with off-peak times
Find out more about Economy 7 or give us a call below
03457 455 455
All you need to know about Economy 7
What is Economy 7, what are the benefits and how does it work?
What is Economy 7?
Economy 7 tariffs work by offering cheaper electricity at night (an ‘off-peak’ rate).
The ‘7’ stands for the seven hours that the ‘off-peak’ rate is available - from 1am - 8am in winter and 2am - 9am in summer. A daily standing charge is also applied to Economy 7 tariffs. Contact us for more information.
To make this tariff worthwhile for you, you should most of your electricity at night as any electricity you use during the day could cost more.
Who is it suitable for?
Economy 7 is not for everyone. For those that use more than 40% of their electricity at night, this could be the tariff for you. The more electricity you use at night and the less you use during the day, the more cost-savings you will make on your bill.
Economy 7 is best-suited for those that have electric storage heaters and a hot water tank. Storage heaters emit heat during the day after being heated up at night (when it is less expensive).
It is important to ensure that Economy 7 fits with your lifestyle. With Economy 7 your home is typically warm and has hot water in the mornings, but is cool again by evening time.
Getting Economy 7
With Economy 7 any electricity you use during the day will cost you more. 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.
In order to avail of Economy 7 you will need to have an Economy 7 ‘two rate’ meter fitted. This is different to a normal meter as it records what you’ve used during the day and night periods separately.
If you are interested in finding out more about Economy 7, call us on 03457 455 455
Need help with Economy 7?
Call us on 0345 7455 455
Phone lines open Monday to Friday 8am to 7pm. Calls are recorded for quality assurance purposes.
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