An Economy 7 meter is a type of 2-rate meter. A 2-rate meter is an electricity meter which has 2 registers, recording what time of day you use your electricity (2-rate meters do not exist for gas). The most common 2-rate meter is called an Economy 7 but there are many others.
Unlike a 'traditional' meter, you may have 2 rows of numbers on your meter rather than just the 1 (if this has been recently installed it may only show one row on the electronic display at a time). Each register will be labelled slightly differently to indicate which time period they relate to.
Scrolling through would then show the second rate,
These rates may be displayed as R1 & R2 or L & N.
If you have a 2-rate meter, there are specific 2-rate tariffs available to you, where you pay a different unit rate depending on when you use your electricity. You will pay more for electricity used during 'peak' hours, and less during 'off-peak'. Different Economy 7 meters define peak and off-peak differently.
If you prefer, we can charge you on a single rate tariff. Your meter will still record usage at different times, so we would still need the 2 separate readings from your meter, but we'd charge all your usage at the same rate.
Typically, people with immersion / storage heaters find that the 2-rate tariff option is best for them. Some homes simply run on a different schedule to the rest of the country, and can benefit from cheaper energy because they use it during the night.
Get in touch if you have a 2-rate meter and you think you might like to change your tariff between a single or 2-rate tariff.
Unfortunately, unless you have a 2-rate meter installed, we aren't able to offer a time of use tariff. If you would like to have a single rate meter exchanged for a 2-rate meter this would be chargeable.