What are Ecomony 7 meters?

An Economy 7 (E7) meter is the type of meter used in properties which are signed up to an Economy 7 tariff. These tariffs offer cheaper energy rates during the night when energy use isn’t as frequent. In most cases, Economy 7 times run between midnight and 7am (7 hours), so if you have appliances which consume energy during these times, such as storage heaters or EV chargers, an Economy 7 meter could be a beneficial and cost-effective option for you.

For businesses or properties looking for longer hours of off-peak, low-cost energy, Economy 10 (E10) meters are available. These meters offer 10 hours of cheaper night-time electricity. 

One thing to note about Economy 7 and Economy 10 meter tariffs is that although they offer cheaper night-time electricity rates, their day-time rates tend to be particularly high. So, if you use a significant amount of energy during the day, you might be better suited to a standard fixed-rate or variable rate tariff.

How do Economy 7 meters work?

Economy 7 meters work by charging you two different rates – a day-time rate and a night-time rate. The meter tracks the electricity you use during the day and the amount you use at night separately. You will then be charged at different rates for each, with the night-time rate being cheaper. The day-time rate of electricity is likely to be higher than what it would be for a normal fixed-rate tariff.

Pros and Cons of Economy 7 Meters

To provide you with a better insight into Economy 7 meters, here is a list of their main advantages and disadvantages:

Pros

• Cheaper electricity costs during the night
• Ideal for properties with EV chargers and storage heaters
• An excellent choice for companies and properties that use more energy during the night.

Cons

• The cost of electricity during the day is more expensive than on a standard tariff
• There is a reduced choice of energy tariffs in comparison to normal energy contracts
• The meter is solely for electricity
• Submitting meter readings can be slightly more complicated 

Economy 7 Meter Tariff vs. Normal Energy Tariffs

The main difference between an Economy 7 meter and a normal energy tariff is that customers on normal tariffs are charged at the same rate for their energy regardless of the time of day. Contrastingly, households that have an Economy 7 meter fitted are charged less for the electricity that they use during the night and more for the energy they use during the day. 

Will an Economy 7 Meter Tariff help you save?

The savings you could make by using an Economy 7 meter will typically depend on the following:

The type of electrical appliances you have at your property

If you have an EV charger fitted at your property, an Economy 7 meter could be beneficial as you can charge your electric vehicle overnight at a discounted rate. This usually works out to be much cheaper and more convenient for EV drivers.

Additionally, households with Economy 7 storage heaters could benefit hugely from the lower night-time rates of electricity. These heaters use electricity at night to store thermal energy and release this as heating during the day. 

Do you have a hot water tank fitted in your property? If so, you could heat your water overnight to use in the day and save by using an Economy 7 meter. 

The time in which you use electricity

If over 40% of your electricity takes place during the night, an Economy 7 meter could be an effective solution for you. However, if you use less than this, you may be better suited to a normal energy tariff as the day rates of electricity tend to be quite high with Economy 7 meter tariffs.

Setting your washing machines, dryers and dishwashers to come on at night in line with Economy 7 meter times can help to reduce your energy costs. For businesses, an Economy 7 meter tariff could be of benefit if the majority of the working hours take place at night, eg. night-time call centres.

Your Lifestyle 

If you work unusual hours or have circumstances which mean that you use most of your electricity at night, your lifestyle and energy consumption may be suitable for an Economy 7 meter. 

Get the best out of your Economy 7 meter with YESSS Electrical 

To make the most out of your Economy 7 meter, you’ll need to ensure that you use energy-efficient electrical appliances within your property. Here at YESSS Electrical, you can find all the efficient appliances you need from our extensive range. From storage heaters and EV chargers to efficient lighting and water heating solutions. 

Browse our excellent range of electrical appliances today.

FAQs

What time does Economy 7 start?

Your Economy 7 times will depend on where you live and which energy provider supplies your electricity. Typically, your off-peak electricity will start at either 11pm or 12pm midnight. Please note, Economy 7 times change when the clocks go backwards or forwards. The best way to confirm your supplier’s Economy 7 meter times is to contact them or visit their website. 

How to read an Economy 7 meter?

Economy 7 (Day/Night) meters are designed with two rows of numbers which separately record your electricity use during both day and night. These rows are usually labelled as Day and Night, Low (Night) and Normal (Day), or 1/I (Night) and 2/II (Day).

There are two kinds of Economy 7 meters. The first features two displays where the top row shows the day-time electricity usage – this will be marked as ‘normal.’ The bottom row will be marked as low and shows your night-time usage.

The second kind of E7 meter has a single row which shows your day-time electricity usage. It features a red button which will show your night-time reading once pressed.

What is the difference between an Economy 7 meter and an Economy 10 meter?

The main difference between an Economy 7 meter and an Economy 10 meter is that an Economy 10 meter tariff offers 10 hours of off-peak, low-cost electricity, whilst an Economy 7 meter tariff provides 7 hours.