Is it worth having Economy 7?
Economy 7 does still exist and can be one of the cheapest ways to save on your energy. Ideal for those who don’t need electricity during the day (if you have a storage heater and hot water tank), Economy 7 can be the cheapest energy option depending on your lifestyle.
What is an Economy 7 heating system?
Economy 7 is a particular type of electricity tariff that is usually installed in homes without gas central heating. This tariff gives the occupant cheaper electricity at certain times of the day, usually overnight and for seven hours, hence the number seven.
Are Economy 7 storage heaters any good?
Economy 7 is good if you have storage heaters They consume masses of electricity. That’s why using them when it’s cheaper is critical if you’re on Economy 7. If you use one on an expensive normal tariff, it could be dear. If you don’t have storage heating, Economy 7 isn’t worth it in most cases.
Can electric radiators run on Economy 7?
Both electric radiators and storage heaters use electricity. That means, the higher the unit price of electricity, the more you will pay. If you are going to use a storage heater, ensure you are on an Economy 7 tariff. But be warned, if you use energy during the day the unit rates are much higher.
Can you have Economy 7 with a smart meter?
Can I have an Economy 7 smart meter? The current smart meters can work in an Economy 7 mode. So if you have an EDF Economy 7 meter but would like a smart meter, book your installation in MyAccount or call us on 0333 200 5104(1) to chat through your needs.
What are Economy 7 prices?
An Economy 7 tariff measures your electricity usage based on two different prices per kilowatt; an on-peak rate and an off-peak one. The off-peak rate applies for seven hours of the night – which is where the ‘7’ in the name comes from – and the on-peak price applies to the other 17 hours of the day.
Can I have a smart meter if I have storage heaters?
If the you have storage heaters or under floor heating installed you cannot currently have a smart meter.
Are storage heaters cheaper to run than electric radiators?
In most cases, an electric radiator is cheaper and more energy efficient than a storage heater. There are several ways you can improve how energy efficient both are: Ensure you’re on the right home energy deal that suits your usage. Both electric radiators and storage heaters use electricity.