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What is Economy 7 and can it help me save money?

Economy 7 is the name of an electricity tariff which provides cheap off-peak electricity (ie. during the night).

Only properties with a special electricity meter, which provides two different readings (one for electricity used during the day, priced higher, and the other for the night, priced lower) can take advantage of the Economy 7 tariff.

An Economy 7 meter has a time switch which is normally triggered by radio waves so the timings can vary dependant on where in the country your property is located. However, regardless of your location you will still receive a full 7 hours at the reduced rate in each 24 hour period.

Please note: The 7 hours of off-peak electricity is not necessarily a continuous 7 hour period.

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