Economy 7

Obviously with Economy 7 you'll use more energy during the night than the day, so you will save money. However, you need to be using roughly 20% of your energy consumption at night to be making a saving. And when they say night, they really mean night - the cheaper tariff usually starts around 1am and finishes around 8am (this can vary by supplier and region).

Another important factor to take into consideration with Economy 7 is that is that, although you can heat your water and storage heater continually throughout the night, this may be insufficient to last you through the day. The morning is generally nice and warm, with enough hot water for a bath or shower, but as you reach the evening your house will probably start growing colder. If you were thinking about having a lovely hot bubble bath after work - forget about it!

If you're interested in comparing your current Economy 7 tariff against those offered by other suppliers, then use the online price comparison service. You may discover you can save money simply by switching suppliers. If you don’t currently have an Economy 7 meter, you’ll need to convert your meter before you can use uSwitch.com to switch supplier.

Be aware that some Economy 7 tariffs may charge you almost double the standard rate for any energy you use during the day, which can quickly cancel out any savings you've made through using Economy 7 at night.

Moving to an Economy 7 tariff involves a change of meter, which your current supplier should be able to arrange for you (sometimes for a price).

Once you have changed your meter you can switch between suppliers, so make sure to check out the energy comparison calculator on uSwitch.com, to find the cheapest deal available to you.