An Economy 10 tariff can allow you to access cheaper electricity rates during specific periods of the day. But you need to understand how an economy 10 tariff works before you consider getting it. The good news is that Utility Bidder can help you determine whether or not an economy 10 is suitable for your needs.

Keep in mind that an economy 10 tariff gives you cheaper energy sites for at least 10 hours every day. The cheaper periods are called off-peak times, and they can be divided between three blocks, which are in the evening, night, and morning.

An Economy 10 Tariff

There are several benefits for choosing an economy 10 tariff. One of them is that you can have at least ten hours of cheaper electricity. Also, the energy rates during the off-peak times can usually get to half the price of the normal energy rates, so you can utilize electricity during this period so that you can reduce your energy bills

Therefore, during the off-peak hours, you can plan to utilize appliances like washing machines and dishwashers to reduce energy costs. Businesses like nightclubs and bars can also benefit from these cheaper energy rates during their peak hours.

It’s worth mentioning that economy 10 and economy 7 tariffs are quite similar when it comes to accessing cheaper electricity unit rates during specific periods of the day. But the main difference between these tariffs is in their off-peak energy hours. Ideally, economy meters provide 7 hours of cheaper unit rates during off-peak hours while economy 10 meters provide ten hours.

As you can see, you can choose an economy 10 tariff if you want to have more than 7 hours of cheaper electricity rates. You should note that economy 10 tariffs are available for businesses and households.

Some Reminders Before You Get An Economy 10 Tariff

An economy 10 tariff can provide cheaper electricity rates and save you money, but you should remember that the energy rates that you use outside of these ten hours can be more expensive than standard energy rates. This is the reason why it’s a good idea to figure out if your electricity usage habits and lifestyle are suitable for this tariff or you can end up paying more cash for your electricity.

You should also remember that installing an economy 10 meter can cost you more money. And, if you decide to switch back to a standard meter in the future, then you have to pay again for the new meter.

This means that you need a special meter for an economy 10 tariff. While a standard energy meter only offers one reading, an economy 10 meter is designed to offer at least two or more energy readings, though this depends on the different energy rated you pay as well as whether or not you use storage heaters. You need the services of an engineer to install an economy 10 meter. As a result, an energy supplier can charge you a service fee for the new meter installation.