Is Electricity Cheaper at Night? Your Off-peak Energy Guide
Published date: July 2024
Everyone loves saving money, especially on monthly bills that eat into your pocket. You might have heard whispers about cheaper electricity at night, but is there any truth to it? At Your Co-op Energy, we're focused on helping customers and members with clear solutions so you can make informed choices about your energy use.
When is electricity cheapest in a day?
Electricity for most UK homes will cost the same throughout any 24-hour period. However, the energy meter you use can determine if you have two different electricity rates, day and night. An Economy meter allows you to utilise a cheaper night rate (Economy 10), so you can save on your energy bill and avoid the higher costing day rate (Economy 7).
While you can in-theory use any electricity tariff with an Economy meter, this is considered to be an ageing, inefficient technology that is being phased out. Economy meters were popularised when storage heaters were widely used, though this is now a rarity.
Instead, standard, dial, digital and smart meters are the more commonly used, though do not offer two different rates. Modern meters and tariffs typically only apply one rate for a home's electricity, which may sound like a disadvantage, however, smart meters provide a far greater insight into your energy usage.
By using a smart meter, you can:
- Track your live electricity usage and spot inefficient devices.
- See historical data to spot any trends that are out the ordinary & track your progress to conserve electricity.
- Lower your bills (especially if you're on a variable tariff).
- Accurate bills: Smart meters ensure you only pay for the energy you actually use, avoiding the potential overcharges of estimated billing.
Pros and cons of Economy Meters for cheaper electricity at night
Pros:
- Potentially save on your energy bill: Running appliances during off-peak hours can lead to lower bills on a variable tariff.
Cons:
- Beware the daytime bite: While nights are cheaper, daytime electricity costs might be higher than other providers single rate for day and night, leaving you no better off.
- Not for everyone: To truly benefit, you need to use a substantial amount of electricity at night.
- Electricity only: This plan affects just your electricity bill, not gas.
- Daylight saving switcheroo: In some cases, meters might not adjust for daylight saving time, potentially shifting off-peak hours and impacting your savings strategy.
- Inefficient and old: Economy meters are themselves not energy efficient and lack many of the features modern meters provide. Energy providers do not move new customers onto Economy meters and this type of meter is being phased out.
Peak vs. Off-Peak Electricity times
When thinking about the time of your energy use, you may come across peak and off-peak times. Here's a simple breakdown of these phrases:
The UK's national grid for electricity production can be likened to a motorway. During the day, when everyone's using appliances (kettles, lights, washing machines, TVs etc), there is a high volume of traffic – that's peak time. At night, when there are fewer appliances being used and the national grid has reduced demand, that's off-peak electricity.
If you're with an energy provider that uses multiple fuel sources to generate your electricity, there is a high chance that there will be more renewable energy used during off-peak times. This is due to the reduced reliance on fossil fuels to supplement the output of renewables to keep up with peak demand.
So, if you want to reduce your home's carbon footprint then try and avoid using electrical appliances throughout the day. Or you can ensure you're always using 100% UK-generated renewable electricity, by switching to Your Co-op Energy with Excellent rated customer service on Trustpilot.
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