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Is an Economy 7 tariff right for you?

Is an Economy 7 tariff right for you?

If you have an Economy 7 meter, then finding the cheapest Economy 7 plan is key to making the most of it — find out how with this uSwitch guide.

Don't rely on the price cap to save

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How does Economy 7 work?

Economy 7 refers to both the electricity meter and the type of tariff households with Economy 7 meters are required to have to support it.

That's because an Economy 7 meter works differently than a standard electricity meter; it tracks your usage during the day and nighttime hours separately, and you will be charged different rates depending on the time of your electricity consumption.

In most cases, cheaper electricity rates are available between midnight and 7am and more expensive rates kick in from 7am to midnight. The difference between day and night rates varies between suppliers.

For more information on how Economy 7 works and finding out if you have Economy 7, check our dedicated guide.

Economy 10 meters work in a similar way.

Is Economy 7 the cheapest energy deal for me?

If you already have an Economy 7 meter, it's simple to compare and switch Economy 7 tariffs to ensure you're on the cheapest energy plan available to you.

However, these plans are generally not very competitive overall. Unless your household has a storage heater or a hot water tank, which can be switched on at off-peak consumption times, in which case it may help you save on those costs.

Households can further take advantage by using timers on their appliances (such as the dishwasher or washer/dryer) to operate during the cheaper times.

However, if you have a standard meter, you'll likely save more by regularly comparing energy deals and switching, because you will have much more choice when it comes to energy deals.

If you are stuck with an Economy 7 meter you don't feel is benefitting you, read up on how to switch to a standard meter.

Switch an Economy 7 energy deal

The good news is, it's easy to compare and switch Economy 7 electricity tariffs with uSwitch. Simply grab your bill, and enter the plan name and supplier as prompted. uSwitch will automatically compare yours against other Economy 7 deals on the market to quickly find a better price.

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