Article | Fabulous Women

Do you have an Economy 7 Electricity meter?

Posted on 25/01/2013 Should you be on an Economy 7 tariff? I have met quite a few people recently who shouldnt be. The result is that they are paying more for their electricity than they need to.

 Economy 7 electricity meters were originally mainly used by people who had storage heaters. This is because with an Economy 7 meter there are 2 rates day time and night time. The idea was that the heaters would store heat during the night when the unit price was cheap and let the heat out during the day. This was actually very economic.

However storage heaters are now out of favour and many people have installed gas central heating instead, but they have not necessarily changed the electricity tariff they are on. This is a problem because day time units on an Economy 7 tariff are much more expensive than those on a general domestic electric tariff i.e. where the unit price is the same throughout 24 hours. Therefore if they are not using enough units over night they are probably paying more for their electric then they should be.

Night time units are midnight to 7 am. There are a few Economy 7 tariffs where they are cheap for a short period in the afternoon, so individual tariffs should be checked. Generally speaking you need to be using around a third of your kilowatts during the night time period to benefit from an Economy 7 tariff.

So what should you do if you are on an Economy 7 tariff and dont think you should be? Firstly, phone your current supplier and find out exactly what tariff you are on. Second, if you shouldnt be on Economy 7 then ask your current supplier if they will change your meter over to standard domestic for free. Finally if they do charge to change the meter then you can ask them if they will change your tariff charge. For example Utility Warehouse makes a 15 administration charge to allow Club Members to be billed on a standard domestic tariff without changing the meter. Both day and night figures will still have to given when providing meter readings. N.B. If you switch suppliers and you havent had your meter changed you will have to ask your new company to change your billing method as well.

Back Author : Katrina Warne

Please login first to submit comment.

Articles

100 Years Young? 9 Secrets...

Who wouldn’t want to be 100 years old? Someone who says this is not his or her wish probably says this as they think about...

Health Tip for January 2018

To make just one small change to your fitness this month, find a practical way to introduce more exercise into your daily...

December 2017 property review

IFA Direct20 Vicarage RoadWokingSurreyGU22 9BH01483...

Economic Review November 2017

IFA Direct20 Vicarage RoadWokingSurreyGU22 9BH01483...

November Property Market...

IFA Direct 20 Vicarage Road Woking Surrey GU22 9BH01483 715823 alastair@ifadirect.co.uk jonathan@ifadirect.co.uk...

How and Why a Narcissist...

Furious.  Frustrated.  Feeling stupid.  Feeling duped.  Feeling like a mug.  Relieved to hear you're not the only one.  Boiling...

Health Tip for November

Three Steps to a Sleeping Better1. Create a better space: Turn of all screens, large or small, at least an hour before...