Money-saving energy tariff for those who use more electricity at night - includes Octopus, British Gas, EDF, and more

Many billpayers may find that they're spending more on their energy than they need to.

In particular, if you're someone who regularly works a night shift from home or regularly uses large appliances such as washing machines throughout the night, you may be able to save some cash with a new energy tariff. An Economy 7 tariff is targeted directly at customers who use more electricity when the sun goes down.

According to industry regulator Ofgem, an Economy 7 tariff will generally run from midnight to 7am, but this may vary depending on the supplier. It allows customers to pay one rate for electricity during an agreed off-peak period.

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Customers who sign up to an Economy 7 tariff will need to have a meter than records both peak and off-peak consumption separately. Meters that qualify for this include a dual-rate meter or a smart meter which is capable of providing the different rates throughout different energy-usage periods.

Before deciding on an Economy 7 tariff just because the nighttime cost is cheaper, it's important to consider a few things. Firstly, while an Economy 7 can significantly decrease your costs with nighttime usage, it will generally increase the cost of your usage during the day.

You should also examine if you're home would benefit from the tariff based on which appliances you have and how they operate. Generally, the tariff will mainly benefit 'electricity-only homes'.

This includes those that use storage heaters that warm up during off-peak hours, hot water tanks that heat up during an off-peak period, or houses that charge electric cars throughout the night. Before making a big change to a new tariff, you