Otis Singleton
If you're looking to save money on your electricity bills, you might want to consider switching to a time-of-use tariff, which offers cheaper off-peak rates at night. The cheapest off-peak times can vary between providers, but they typically fall somewhere between 10 pm and 8 am, with the precise times depending on your supplier and location. For example, British Gas offers an off-peak rate between 12 am and 5 am, while Economy 7 tariffs generally offer a cheaper rate between midnight and 7 am or 8 am. However, to benefit from these cheaper rates, you'll need to ensure that a significant portion of your electricity usage occurs during the off-peak hours, typically at least 40%.
| Characteristics | Values |
|---|---|
| Cheaper night rate | Midnight to 7 am or 8 am |
| Peak rate | Rest of the day |
| Type of meter | Smart meter or a dedicated Economy 7 meter |
| Tariff | Economy 7 or Economy 10 |
| Cheaper night rate for | Electric vehicle, washing machine, dishwasher, smartphones, laptops, tablets, etc. |
| Cheaper night rate providers | British Gas, Bulb, etc. |
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What You'll Learn
Economy 7 tariffs
The off-peak hours for Economy 7 meters usually fall somewhere between 10 pm and 8 am, but the actual hours vary across the country and depend on the type of meter and supplier. For example, the off-peak hours for Economy 7 with the supplier Bulb fall somewhere between 10 pm and 8 am, but the off-peak hours may not be in one continuous time period, and they may change when the clocks change.
To be on an Economy 7 tariff, you will need a smart meter or a dual-rate meter, which can record how much electricity you're using at different times of the day. This allows your supplier to charge you a cheaper rate during off-peak times.
While Economy 7 tariffs can help reduce energy bills and your carbon footprint, they can also be more expensive than standard tariffs if you use most of your energy during peak hours. It is important to carefully analyse your energy usage before switching to an Economy 7 tariff, as daytime rates can be steep, and you will only save money on these tariffs if you use at least 40% of your electricity at night.
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Off-peak hours
To benefit from off-peak rates, it is essential to have a meter that can track both energy usage and the time of day it is used. This can be a smart meter or a dual-rate meter, which records electricity usage at different times of the day.
It is worth noting that off-peak tariffs, such as Economy 7 and Economy 10, are designed for those who use a significant portion (at least 40%) of their electricity at night. These tariffs offer lower rates during off-peak hours but may have higher rates during peak daytime hours. Therefore, it is essential to consider your energy usage patterns and compare different tariffs to ensure you are getting the best deal for your household.
Some energy suppliers also offer opt-in schemes or incentives to encourage customers to use energy during off-peak times. For example, British Gas's PeakSave Sundays offer half-price electricity between 11 am and 4 pm on Sundays, while PeakSave Green Flex provides half-price electricity for one or two hours when there is likely to be an abundance of renewable energy available.
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Peak hours
For those on a time-of-use tariff, such as Economy 7, peak hours are generally any hours outside of the off-peak window. Economy 7 tariffs usually offer a cheaper rate during off-peak hours, which typically fall between midnight and 7 am or 8 am. However, the precise times can vary by supplier, and your peak and off-peak hours may change when the clocks change in March and October. For instance, your meter might switch rates an hour later during British Summer Time.
It's important to note that the cheapest off-peak electricity times can vary not only by supplier but also by your location and the time of year. To find out the exact off-peak and peak times for your tariff, check your tariff details or contact your electricity supplier.
If you're unsure whether you're on a time-of-use tariff, you can examine your electricity bill or smart meter monitor. If it displays both a day and a night rate, you're on a time-of-use tariff. Additionally, your meter may show two sets of numbers, one marked as "normal" or "peak" and the other as "low" or "off-peak".
While off-peak tariffs can offer significant savings, it's essential to consider your energy usage patterns. To make the most of off-peak tariffs, you should aim to use at least 40% of your electricity during off-peak hours. This may involve adjusting your habits or using timers to take advantage of the cheaper rates.
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Electric vehicle tariffs
Electric vehicle (EV) tariffs are energy deals targeted specifically at electric vehicle owners. These tariffs offer discounted electricity unit rates for charging your vehicle during off-peak hours, usually overnight. EV tariffs are similar to Economy 7 and time-of-use (TOU) tariffs in that the hours when you can access cheaper rates tend to be an hour or two shorter than for other TOU tariffs. However, your day rates might be less expensive than standard tariffs, although still higher than those with a standard price cap.
There are a few things to keep in mind when considering EV tariffs. Firstly, many suppliers require you to be an existing customer and to prove that you own an electric vehicle. Some suppliers will only cover certain makes and models of EVs, so it's important to check if your vehicle is included. Additionally, your provider may only support certain types or brands of chargers. Another key consideration is whether the tariff is single or dual fuel. Some suppliers offer electricity-only products, so if you require gas, you will need a separate tariff for that.
One example of an EV tariff is the E.ON Next Drive tariff, which offers lower-priced electricity at 6.7p per kWh when you charge between 12 am and 7 am. While estimates about the cost savings of EV tariffs vary, the consensus is that you can save hundreds of pounds a year compared to a standard tariff. The size of your potential savings will depend on how much of your general energy usage you can move to off-peak times.
Overall, EV tariffs can be a great way for electric vehicle owners to save money on their energy bills, especially when combined with the already lower costs of running an electric vehicle compared to a petrol or diesel alternative.
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Time-of-use tariffs
TOU plans can help you manage your energy costs by taking advantage of lower rates during off-peak and super off-peak periods. For example, electricity prices are typically lower early in the day, overnight, and on weekends. However, bills may be higher during the summer, resulting in potentially lower overall annual energy costs.
The cheapest off-peak electricity times can vary depending on the provider, your location, and the time of year. Generally, electricity is cheapest from late at night until early morning, with higher rates during peak daytime hours. Off-peak times typically fall between 10 pm and 8 am, but the exact hours can differ across providers and locations.
You can benefit from TOU plans by shifting your energy usage to off-peak hours. This may include running appliances such as dishwashers and washing machines later in the evening or taking advantage of cheaper rates to charge electric vehicles. However, it's important to note that daytime rates on off-peak tariffs can be steep, and you may end up paying more if you don't utilize the off-peak hours effectively.
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Frequently asked questions
An off-peak tariff is when you pay a lower rate for electricity during off-peak hours, which are usually between 10 pm and 8 am, but this can vary depending on your energy supplier and location.
Check your monthly Bulb statement. If you see two separate unit rates (one for day and one for night), you're on an off-peak tariff.
You will need to contact your energy supplier and ask to switch to an off-peak tariff, such as Economy 7.
Off-peak tariffs are most suitable for those who use a significant portion (at least 40%) of their electricity at night.
Off-peak tariffs can help you save money on your electricity bill by offering a lower rate during off-peak hours. This can be especially beneficial if you have electric vehicles, storage heaters, or can shift energy-intensive tasks to the off-peak period.
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