Economy 7 meters can be a great way to cut your energy spend if your lifestyle allows for it.
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Economy 7 refers to a type of electricity tariff which means you pay a different price for each energy unit you consume depending on the time of day.
Typically what this means is that you pay a lower rate for energy used at night than you would during the day. It works in the same way as off-peak phone calls. To benefit from Economy 7 pricing you need an Economy 7 meter.
So how can you tell if you’re on an Economy 7 tariff?
The easiest way is to grab a recent electricity/ dual fuel bill and have a look at your electricity rates. If you have two different rates, a day and a night rate, then you’re probably on an Economy 7 tariff (it could also be an Economy 10 meter, which works in much the same way).
If you’re on Economy 7, your Meter Point Access Number (MPAN), also found on your energy bill, should start with the numbers ‘02’.
No bill handy? Head to your electricity meter. If you are on an Economy 7 tariff your meter will display two sets of numbers, one ‘normal’ and another ‘low’, or alternatively, one marked ‘day rate’ and a red button which displays a ‘night rate’ when pressed.
If you’re still not sure, call your electricity supplier and check with them.