Call your electricity supplier - If you are still unsure, call your provider and check.

Check your meter - If you have two electricity meters, or your electricity meter gives two readings, you may be on Economy 7.

The Meter Point Access Number on your bill will also start with “02”. Check your bill - If it has two electricity readings, usually marked day and night, or normal and low, the chances are you are on an Economy 7 tariff.How do I know if I have an Economy 7 meter? However, energy suppliers must offer all UK households a smart meter by 2024, so progress is being made to roll these out across Britain. It is possible to use a smart meter with an Economy 7 tariff, but availability currently depends on your location and supplier. Some Economy 7 meters have a single number representing your day rate usage, with a red button that you press to see your night rate usage. It will usually show two numbers, one marked “day” or “normal” to indicate usage at the day rate and one marked “night” or “low” to show usage at the cheaper overnight rate. Some households with older systems may have two meters, one for the day rate and one for the night rate, however newer systems record both on one meter. When you sign up to Economy 7 you have a special meter installed that records your day and night usage separately. Your supplier may offer cheaper electricity from 11pm to 6am for example, or from 1am to 8am. Typically Economy 7 customers receive cheaper electricity between midnight and 7am, however this can vary slightly according to your location and energy supplier. This means if you use too much electricity during the day, it could cost you more than a standard tariff. While night rates are cheaper than the standard cost of electricity, day rates are much higher. It was designed to encourage households to shift their electricity usage to off-peak times to reduce the pressure on Britain’s electricity networks. So how does an Economy 7 meter work and how can you tell if you would benefit from one? What is Economy 7?Įconomy 7 is a type of electricity tariff that charges two different rates – one for electricity used during the day, and a cheaper one for electricity used at night. However, if you use other types of electric heating, or you are regularly home and doing the washing or other chores during the day, it could cost you a lot more than a standard tariff. If you have electric storage heaters and can schedule your appliances to come on during the night, you could save a significant amount on your annual bills. If you have an Economy 7 meter, you will be charged costly rates for the electricity you use during the day, but discounted rates for a seven-hour window overnight.

The answer depends largely on your lifestyle and usage habits.

Setting up eon timer