What is Economy 7 Heating
Economy 7 heating is where electric night storage heaters are charged up every night with electric heat and then this heat is then released the next day very slowly.
Night Storage Heaters store thermal energy by heating up internal ceramic bricks (effectively, ‘charging’ like a very large rechargeable battery) during the night when electric is at its cheapest.
Storage heaters are primarily designed for customers to benefit from off peak energy which is used to charge up these heaters on a nightly basis.
Storage heaters are usually the best option for households not connected to the gas grid and need to use electricity as a heat source. You will need an economy 7 meter for best use of them
What Is Off Peak Energy & What Off Peak Tariffs Are Available ?
Many energy suppliers offer significant discounts on the use of electricity at night time as demand for power is significantly reduced.
This is called the ‘off-peak’ period and the companies reduce the cost of power between midnight and 7am.
The “Economy 7” tariff is the most well-known. Economy 10 is another one.
You get one meter which has two rates.
You pay normal prices during the day, but cheaper rates for seven hours during the night (usually 12pm-7am).
What is the best heating and hot water system for Economy 7?
DID YOU KNOW? – Electric Heating Grants Available
Grants available to exchange old heaters.
See Our Grants Page Here
What Is An Economy 7 Meter ?
Economy 7 meters, are separate meters which have to be specially installed that track day and night use of electricity separately.Tjhis is the preffered method for night storage heaters.
Different kWh rate can be offered via an Economy 7 tariff – a bit like peak and off-peak phone calls. Night time electric is much cheaper and this is when your storage heaters should be charged up
This can be a good way of saving money for energy customers.
How does Economy 7 work?
Economy 7 allows you to get cheaper electricity for seven hours each night.
These tariffs use a different kind of electricity meter which, unlike a standard meter, can track the electricity you use during the day and at night separately.
You’re then charged those different rates for the electricity you use during the day and during the night. The day rate is omore expensive than day rates on a normal tariff, meaning that this doesn’t necessarily fit in with everyone’s lifestyle.
However, it could work for you if you tend to use more energy during the specified Economy 7 times.
Economy 7 Electric Storage Heater Running Costs.
The cost of running a storage heater depends on a range of different factors, including:
- Room size and size and number of windows in the room.
- The insulation in your home
- The age and type of glazing of your windows
- The temperature you are comfortable with
- The severity of the weather in your area
Economy 7 Times
There are different times for when Economy 7 heat is charged, depending on your region.
See below table
| Region | Economy 7 off-peak times |
|---|---|
| North Scotland | 11.30pm-7.30am |
| South Scotland | 11.30pm-7.30am |
| North East | 12.00am-7.00am OR 12.30am-7.30am |
| North West | 12.30am-7.30am |
| Yorkshire | 12.00am-7.00am |
| East Midlands | 12.30am-7.30am |
| West Midlands | 12.00am-7.00am |
| Merseyside and North Wales | 12.30am-7.30am |
| South Wales | Varies |
| South West | Varies |
| London | No standard off-peak time, but typically seven hours between 11pm and 7am |
| South East | 10.30pm-12.30am and 2.30am-7.30am |
| Eastern | 11.00pm-7.00am |
| Southern | 11.30pm-6.30am OR 12.30am-7.30pm |
Economy 7 Tarriffs
The table below shows the cost difference between the cheapest Economy 7 tariff with seven hours at off-peak rates and the cheapest normal, single rate electricity tariff.
Assuming 42% of electricity is used at night – the national average – an Economy 7 tariff could typically save around £22/year.
| ELECTRICITY TARIFF | AVERAGE PEAK RATE | AVERAGE OFF-PEAK RATE | AVERAGE STANDING CHARGE | AVERAGE COST (1) |
| Cheapest Economy 7 | 12.1p/kWh | 8p/kWh | 22p/day | £516/year |
| Cheapest normal | 10.9/kWh | 10.9p/kWh | 22p/day | £538/year |
(1) Based on regulator Ofgem’s average usage figure for Economy 7 of 4,200 kilowatt hours (kWh) a year.
Economy 7 assumes 42% off-peak usage. Last updated: April 2020.
Grants For Economy 7 Night Storage Heaters
Electric Heating Grants for Economy 7 Heaters have been made available since 2017 and thousands of old heaters have been exchanged now .
If you have old electric storage heaters / economy 7 heaters that are faulty or broken installed in your home, you may be entitled to a Free Government Grant to help replace them all .
Under the Government Affordable Warmth Scheme, if you meet the criteria , you can have up to 4 brand new high heat retention heaters fitted FREE OF CHARGE.
With the Government’s ECO Scheme which has been ongoing since 2013 , over 1 million heaters have now been exchanged.
Free insulation is included too, which can be worth up to £6000.
INTERESTED IN A GRANT – APPLY HERE
Which Benefits Qualify For An Economy 7 Heating Grant?
- Child Benefit *
- Child Tax Credit
- Employment & Support Allowance
- Housing Benefit
- Income Support
- Job Seekers Allowance
- Pension Credit – Guarantee
- Pension Credit – Savings
- Universal Credit
- Working Tax Credit
* Child Benefit Income Threshholds
Type of Claimant – Number Of Qualifying Children
1 2 3 4 or more
Single Claimant 1 9800 24600 29400 34200
Member Of A Couple 27300 32 100 36900 41700
Heating Grants Available for 2022
Are These Grants Genuine?
Absolutely.
Martin Lewis ( Money Saving Expert ) has a section on his website all about these free / part funded grants.
They are 100% genuine and are open to people on benefits or low income.
A lot of applications do fail however as the criteria is very strict but don’t let this put you off making an application.
It costs nothing to apply and you may be successful in getting thousands of £ worth of grants.
SEE MARTIN LEWIS WEBSITE FOR HIS OPINION ON THESE GRANTS HERE
