Economy 7 Meters For Businesses
Most businesses with Economy 7 meters aim to reduce their electricity bills by using off-peak energy at night. But it can be tricky to know if an Economy 7 tariff is right for your company.
Our guide at a glance:
✔ Understand how an Economy 7 tariff works and what off-peak hours mean.
✔ Discover which types of businesses benefit most from night-time rates.
✔ Learn how careful organisation and monitoring can maximise savings.
What Is An Economy 7 Tariff?
An Economy 7 business tariff, also called a multi-rate business electricity contract, lets companies take advantage of cheaper night-time electricity rates.
How it works:
- An Economy 7 meter records two rates:
- Off-peak (night-time) – usually cheaper due to lower demand
- Peak (day-time) – higher rates during standard business hours
- The off-peak period lasts seven hours, which is where the name “Economy 7” comes from
Businesses that use most of their electricity at night can often reduce their energy bills by taking advantage of this. Careful scheduling and monitoring of energy use across peak and off-peak hours can maximise savings.
How Do Economy 7 Meters Work For Businesses?
Each supplier offers their own version of a business electricity Economy 7 tariff, so rates and terms can vary. With BusinessEnergy.com, you can get instant quotes from multiple suppliers based on your location and usage, and our team can advise whether an Economy 7 tariff is right for your business.
Key points to know:
- Meter requirements: You need a multi-rate or Economy 7 meter to use this tariff.
- Installation: Switching suppliers may require a new meter if your current one isn’t compatible.
- Who benefits: Economy 7 is typically best for businesses that use most electricity at night and very little during the day.
By understanding your usage patterns and checking meter compatibility, you can see if an Economy 7 tariff could reduce your business energy bills.
Installing a New Economy 7 Meter
If your business is moving premises or currently has a standard meter, you may need a new Economy 7 or multi-rate business electricity meter. These meters record usage at different rates, enabling night-time tariffs.
At BusinessEnergy.com, our specialist connections team can manage the installation for you. When you switch with us, meter installation is free, and the process can often be completed in as little as two weeks.
Economy 7 Off-Peak Hours
Off-peak hours vary depending on your region:
- Scotland: typically 11:30 pm - 7:30 am
- East Midlands & North West England: usually 12:30 am - 7:30 am
Always check with your electricity supplier to confirm your exact off-peak hours, as these determine when the cheaper rates apply.
Will an Economy 7 Meter Save My Business Money?
An Economy 7 business electricity tariff is not an automatic cost saver. Its value depends on when your business uses most of its electricity.
Businesses that could benefit include:
- Places of worship: storage heaters that charge overnight and release heat during the day
- Night-time operations: bars, nightclubs, or catering businesses running appliances at night
- Warehouses or distribution centres: electric fleets charging overnight or machinery running during off-peak hours
If your business uses heavy electricity at night but still consumes some during the day, an Economy 7 tariff may reduce bills. Careful monitoring and planning are essential to maximise savings.
Which Suppliers Offer the Best Economy 7 Tariffs for Businesses?
Not all electricity suppliers offer commercial Economy 7 tariffs, and some, like EDF, provide alternative two-rate tariffs instead. With the rise of smart meters, traditional Economy 7 meters are becoming less common.
However, there are still valuable Economy 7 business deals available:
- Smaller suppliers: Valda often offers great fixed-term tariffs.
- Big 6 suppliers: Scottish Power and SSE can also have competitive multi-rate deals.
Electricity tariffs are constantly changing, with new offers launched and old ones withdrawn regularly. The best way to ensure you get the right deal is to compare Economy 7 prices with us.
With access to thousands of tariffs, our service can help you save time and reduce your business energy bills.
