What is an economy 7 meter?
An Economy 7 meter is a type of 2-rate electricity meter (2-rate gas meters do not exist). A 2-rate electricity meter has 2 registers, recording the electricity that you use during different times of the day. The most common 2-rate meter is called an Economy 7 but there are many other types.
Unlike a 'traditional' meter, you may have 2 rows of numbers on your meter rather than just the 1 (if this has been recently installed it may only show one row on the electronic display at a time). Each register will be labelled slightly differently to indicate which time period they relate to.
Traditional 2 rate meter
Digital 2 rate meter
Scrolling through would then show the second rate,
These rates may be displayed as R1 & R2 (Rate 1 and Rate 2), or L & N (Low and Normal), or simply as Day and Night.
2 rate tariffs
If you have a 2-rate meter, there are specific 2-rate tariffs available to you, where you pay a different unit rate depending on when you use your electricity. You will pay more for electricity used during 'peak' hours, and less during 'off-peak'. Different Economy 7 meters define peak and off-peak differently.
If you have a 2-rate meter but would prefer, we can charge you on a single rate tariff. Your meter would still record usage at different times, so we would still need the separate readings from your meter, but we'd charge all of your usage at the same rate.
Typically, people with immersion / storage heaters find that the 2-rate tariff option is best for them. Some homes simply run on a different schedule to the rest of the country, and can benefit from cheaper energy because they use more energy at night.
Get in touch if you have a 2-rate meter and you think you might like to change your tariff between a single or 2-rate tariff.
Unfortunately, unless you have a 2-rate meter installed, we aren't able to offer a time of use tariff. If you would like to have a single rate meter exchanged for a 2-rate meter this would be chargeable.
Last updated: Wed, 18 Sep, 2019 at 3:29 PM
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