What is Economy 7?
Economy 7 is an energy tariff that allows customers to benefit from cheaper electricity prices by taking advantage of off-peak hours. This tariff is designed to provide customers with an incentive to use electricity at the least expensive times of the day. This is typically during the night time hours, when energy demand is at its lowest.
The Benefits of Economy 7
The main benefit of Economy 7 is that it can significantly reduce the cost of electricity for those who use it. This is because the electricity rates are much lower during the night time hours. During the day, when electricity demand is higher, the prices are much higher. By taking advantage of the lower prices at night, customers can save significant amounts of money on their electricity bills.
In addition to the cost savings, Economy 7 also provides customers with a more reliable electricity supply. This is because the energy supply is not subject to the fluctuations of the day-night cycle, which can lead to supply shortages during peak demand times. With Economy 7, customers can be sure that their electricity supply is reliable and consistent.
What are the Current UK Electricity Prices Per kWh 2022?
The current UK electricity prices per kWh 2022 vary depending on which energy supplier you choose. Generally, Economy 7 tariffs are cheaper than standard electricity tariffs. However, the exact prices for Economy 7 tariffs vary from supplier to supplier, so it is important to shop around to find the best deal.
For example, some of the larger energy suppliers in the UK such as British Gas, EDF and SSE offer Economy 7 tariffs that are cheaper than their standard tariffs. Other smaller suppliers such as Octopus Energy and Bulb Energy also offer competitively priced Economy 7 tariffs.
How Can I Compare UK Electricity Prices Per kWh 2022?
The best way to compare UK electricity prices per kWh 2022 is to use an online energy comparison website. These websites allow you to compare the different tariffs offered by different energy suppliers, so you can easily find the best deal.
When comparing tariffs, it is important to make sure that you compare like for like. This means that you should compare tariffs that offer the same type of electricity (e.g. Economy 7 or standard) and the same payment method (e.g. monthly direct debit or pay-as-you-go). Additionally, you should also make sure that you compare tariffs with the same energy efficiency rating.
Once you have compared the different tariffs, you can then decide which one is the best for your needs. It is important to remember that the cheapest tariff may not necessarily be the best for you, as it may not offer the best value for money.
Economy 7 is a great way to save money on your electricity bills. By taking advantage of the cheaper electricity prices during the night time hours, you can make significant savings on your electricity bills. To find the best deal, make sure to compare UK electricity prices per kWh 2022 using an online energy comparison website.