Bill Ranson

Economy 7 is called “Economy 7″ because for seven hours every night your electricity will cost a lot less then the standard daytime rate. The actual timings of the seven hours during the night vary depending on the region you are located in and your energy supplier.

With an Economy 7 tariff you need to be very careful with regards to managing the tariff well as bad management can cause your electricity to cost you a lot more then a standard energy tariff. Why is this? Well, the reason is that during the day it is a lot more expensive then night time hours to use your electrical appliances. It is therefore not suitable for everyone but could appeal to those who use less power during the day – for example shift workers who would be happy to use their washing machine at 2:00 am in the morning.

If you can manage to use your energy well and at the right times the biggest advantage of Economy 7 is that by using electricity during the night instead of the day can reduce your bills by a lot. In fact, savings of up to 200 in a year can be made.

If you want to switch your households energy from Economy 7 to a standard tariff you can use energy comparison sites to find out what the cheapest deal is if you compare rates. However, if you are already on an Economy 7 tariff you can find the best price by comparing Economy 7 tariffs and you can again switch supplier by using an energy comparison site.

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Tags: Advantage, Bad Management, Economy 7, Electrical Appliances, Energy Bills, Energy Supplier, Households, Lot, Night Time Hours, Seven Hours, Shift Workers, Tariff, Tariffs, Using Electricity, Washing Machine

This entry was posted on Monday, July 12th, 2010 at 11:32 am and is filed under Bill Paying Guide. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.