What is Economy 7 and how does it work?
Economy 7 meters, which have to be specially installed, track day and night use of electricity separately, so that a different kWh rate can be offered via an Economy 7 tariff – a bit like peak and off-peak phone calls. This can be a good way of saving money for energy customers. How does Economy 7 work?
How do I read an economy 7 meter?
Another type of Economy 7 meter has a set of numbers labelled ‘day rate’, and a red button that you press to see your night-time figures. If you’re still not sure, contact your energy company to ask them. Taking an Economy 7 meter reading depends on the type of meter you have. The first type has 2 displays.
Is Economy 7 cheaper at 7am?
The cheaper, off-peak rate usually runs from midnight to 7am, while the more expensive daytime rate covers the rest of the day, although precise times can vary by supplier. Economy 7 is often called a ‘time-of-use’ tariff, as what you pay depends on when you use electricity.
What time is Economy 7 time period?
The cheaper Economy 7 time period usually runs either 11.00pm to 6.00am, 12.00am to 7.00am or 1.00am to 8.00am. However this can vary according to where you live and your energy supplier. Economy 7 times will also change when the clocks go back or forward. Contact your provider to check if you are in any doubt. Can you get an Economy 7 smart meter?