Economy 10 meters
Find out how an Economy 10 meter might help you save on your energy bills
Whether you've already got an Economy 10 meter installed, or you're just looking into whether it may be worth getting one, we might just be able to help you save some money on your energy bills.
- Economy 10 meters work at off-peak hours
- Your house will need to use electric energy only
- You may have to pay for a meter to be installed
What is Economy 10?
Economy 10 is a type of electricity meter that allows you to make the most of off-peak energy demand hours. It's much like Economy 7, but with three more hours per day of off-peak energy. Economy 10 is also the name of the tariff that these meters run on.
How does it work?
You get the same energy as normal, but for 10 hours of the day your energy costs less. These hours are usually split into seven hours through the night to early morning and three hours during the day.
Because Economy 10 runs at unsociable times, you may need to change your lifestyle to accommodate your energy usage.
Can anyone get Economy 10?
Your house will need to use only electric energy, not gas. A modern storage heater can also work in your favour too, as these allow you to store heat and use it later in the day.
You'll also want to have timers on your large appliances so that you can make sure they're used during off-peak hours only.
Do I need to have anything installed?
Yes – an Economy 10 meter. The meter differs to a standard meter in that it has two or three meter readings, rather than just one. This is to show how much energy you've used at each of the rates.
You'll most likely have to pay to have a meter installed when you switch to an Economy 10 tariff, and you'll also have to pay if you switch provider or go back to a standard meter in the future.
How can I tell if I already have Economy 10?
Look at your meter and your energy bills. If you have multiple rates on your bill or more than one reading on your meter, it could be Economy 7 or Economy 10. It's then a case of looking at how many off-peak hours you get a day. If you get 10 off-peak hours, you're on Economy 10. Boom!
What's the most cost-effective way to use Economy 10?
Compared to normal energy rates, the off-peak hours are significantly cheaper but the peak hours can be much more expensive. To get the cash benefits of Economy 10, you need to make the most of the 10 off-peak hours. This means running appliances during off-peak hours only, and changing your routine to do so.
For winter, it's worth thinking about ways you can store heat generated in off-peak hours, so that you can use it in the early evening the following day. You may want to consider alternative heat sources, such as a small energy-efficient fan heater to plug in when you're feeling chilly, especially if you’re at home during the day.
Remember, you can make your home more energy efficient overall by using things like loft insulation, low temperature washing machine cycles and energy-efficient light bulbs.
Which energy suppliers have Economy 10 tariffs?
Unlike with standard and Economy 7 meters, there are few energy suppliers that fully support Economy 10. That said, EDF, Good Energy, M&S Energy, Green Energy UK and SSE currently have Economy 10 tariffs available (in April 2018).
If you're considering switching to Economy 10, we recommend doing some research first into the best deals for you. It's also worth looking into other options that may suit you better, such as installing a smart meter.