Economy 7 is an energy plan, also known as ‘differential tariff’ that can help you pay less for your electricity. Customers on this type of plan are charged two different rates for their electricity use, depending on the time they use it. Customers will pay normal prices during the day, but cheaper rates for seven hours during the night, hence economy “7”. The difference from the day costs to the costs on a night could be up 50%.
This could be really useful for homeowners that tend to use home appliances more during the night.
Economy 7 meters can also be really beneficial depending on your lifestyle and working shifts. Having an Economy 7 meter is worth considering if you work nights or shifts that mean you’re regularly awake in the early hours of the morning.