Economy 7 meter and tariff

An Economy 7 meter uses two electricity rates instead of one: a day rate and a night rate. The night rate offers cheaper electricity for a seven-hour off-peak period, meaning you can save money by using more electricity during these hours.

Economy 7 was originally designed for homes with storage heaters, which heat up overnight using cheaper electricity and release heat throughout the day. However, it can also benefit households that use a significant amount of electricity at night.

How Do I Know If I Should Switch to Economy 7?

An Economy 7 tariff could save you money if you use at least 30% of your electricity during off-peak hours. You can make the most of the cheaper rates by using timers or scheduling appliances, such as washing machines and dishwashers, to run overnight.

However, if you use most of your electricity during the day, a single-rate tariff may be a more cost-effective option.

Before switching, compare the day and night rates with your current tariff to determine whether Economy 7 is right for your household.

Which Meter Reading Is Which?

It is important to identify which reading corresponds to your day rate and which corresponds to your night rate. Some meters clearly label each reading, while others use codes or numbers that can be confusing.

Here are some common indicators:

• Night / Low / Off-peak: Often labelled as Rate 1 (R1), Low, or T1. However, the numbering can vary between meter models, so Rate 1 is not always the night rate.
• Day / Normal / Peak: May be labelled as Rate 2 (R2), Normal, High, or T2. As with the night rate, the numbering depends on the meter.

The Simple Test: Identify Your Day and Night Rates

If you are unsure which reading corresponds to each rate, take a note of both readings in the morning and again in the afternoon. The reading that increases during the day is usually your day-rate reading, while the other is typically your night-rate reading.

For the most reliable result, check your meter's instructions or ask your electricity supplier to confirm which register corresponds to each rate.

How to Take an Economy 7 Meter Reading:

Digital and push-button meters

Press the button on your meter (often blue, red, or labelled 'B') repeatedly to scroll through the display until you find the separate electricity readings for each rate. Record both readings.

What should you write down?

Write down the numbers from left to right, including all whole-number digits. Ignore any digits shown in red or after a decimal point, if present.

If your meter displays separate day and night readings, make sure you record both so your electricity supplier can calculate your usage accurately.

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