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It's called Economy 7 because for 7 hours each night you will pay less for the electricity you use. If your meter was installed by British Gas, the cheaper. Economy 7 is an electricity-only tariff where you pay different rates depending on the time you use your energy. You need a special meter which shows a day. Economy 7 is a meter type that works off a day and night rate. The day rate will be fairly standard and the night rate (which is the Economy 7 feature) will.

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Economy 7 is a meter type that works off a day and night rate. The day rate will be fairly standard and the night rate (which is the Economy 7 feature) will. When are the cheap and expensive Economy 7 times? · 11pm-6am · amam · 1am-8am · amam. With an Economy 7 tariff your electricity will be charged at two rates - a day rate and a night rate. You pay a cheaper rate for electricity for seven hours.

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As a rule of thumb Economy 7 will be cost-effective if you use electricity (not gas, which is a much cheaper heating fuel) for your heating and hot water. An Economy 7-meter records two different rates: off-peak at night and peak during the day. Suppliers can offer a cheaper rate at night because there is less. Economy 7 is the name of a differential tariff provided by United Kingdom electricity suppliers that uses base load generation to provide cheap off-peak.