What is Economy 7 and how does it work?

You have probably seen the term everywhere. Economy 7 this, economy 7 that. But, what exactly is it?

Economy 7 is an energy tariff which came about with the creation of night storage heaters.

As stated in the name, the tariff gives you 7 hours of cheap electricity overnight which was designed for charging up your night storage heaters.

There are also other variations, such as economy 10, which give you longer periods of cheap electricity, or even some which split that period up throughout the day.

Sounds like a no brainer. Why wouldn’t I switch now?

Because it’s not necessarily as good as it sounds. Energy isn’t free. You get the cheaper rate overnight but pay the price during the day by generally paying a much higher cost to make up for it. Let’s take a look at an “example” tariff. This is an “economy 7” tariff and gives you a night rate of 9p per kWh overnight. The issue? The price per kWh in the day is 17p.

Economy 7 is fine if you’re using old, outdated and ineffective night storage heaters to heat your property, but not if you’re using a better, more modern alternative.

Night storage heaters charge up for the 7 hours overnight but then don’t charge again until the following day.

By late afternoon, many users find they have run out of heat and end up using a secondary form of heat to keep themselves warm in winter.

You can use Fischer elektrostore™ radiators whenever you like, day or night, meaning you have much more control over your heating, as well as being able to switch over to a single rate tariff.

By doing so, you may be able to cut your costs on daytime electricity*, helping towards lowering your electricity costs.

Sounds good, what next?

You can request your free catalogue below to find out more about our dynamic storage heaters. Once you’ve read through the catalogue, you can request one of our FREE no obligation surveys.

During the survey, one of our trained heating engineers will measure your rooms and calculate which heaters you need for each room. After that, if you’re happy with everything, our NICEIC registered electricians will install the heaters in your property, give you a demonstration on how the thermostats work and leave you to enjoy your brand new heating system.

*in some cases

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