Economy 7 is best suited for people who use electric storage heaters and have hot water tanks in their homes, but it’s not necessarily right for everyone. Generally if you use more than 40 per cent of your electricity at night, it may be worth doing. However, some Economy 7 schemes charge a higher rate than normal for any electricity used during the daytime, so this could make it more expensive than having a standard meter.
Monday, 24 January 2011
what is Economy 7
Economy 7 is a way of paying different rates on your electricity depending on whether you use certain appliances at night or during the day. You can get a special meter fitted (if you don’t already have one), that will measure your electricity use during peak times, and off-peak.
Economy 7 is best suited for people who use electric storage heaters and have hot water tanks in their homes, but it’s not necessarily right for everyone. Generally if you use more than 40 per cent of your electricity at night, it may be worth doing. However, some Economy 7 schemes charge a higher rate than normal for any electricity used during the daytime, so this could make it more expensive than having a standard meter.
Economy 7 is best suited for people who use electric storage heaters and have hot water tanks in their homes, but it’s not necessarily right for everyone. Generally if you use more than 40 per cent of your electricity at night, it may be worth doing. However, some Economy 7 schemes charge a higher rate than normal for any electricity used during the daytime, so this could make it more expensive than having a standard meter.
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