FAQ's

How long does it take to switch.

It usually takes 21 days to switch and we will deal with everything including contacting your old supplier to inform them you are leaving. All we ask from you is to read your meter closer to the switch date. We will then pass these readings on to your old supplier to make sure you get an accurate final bill.

I have a SMART meter. Can I still switch?

You can switch without a hitch but first generation smart meters revert to dumb status when you move from the host supplier. This just means you will have to read your meter manually. If you are struggling to do this, please email hello@economyseven.co.uk and we can send you a handy step by step guide.

Why do you take the Direct Debit in advance?

Paying in advance by Direct Debit helps us keep our costs down and means we can buy your gas and electricity in advance. We then pass these savings back to our members with our incredibly lower prices and fantastic tariffs.

When do you need my opening meter readings?

We can accept your readings from 5 days before to 5 days after the switch date. Don't worry, we will send you an email to remind you.

How do you work out my Direct Debit payments?

Every gas or electricity meter has an estimated annual consumption (EAC) figure associated with it. This is given to your supplier by the energy industry, it’s not calculated or controlled by us and it can update and become more accurate if you provide regular readings.

This can be inaccurate if: you’ve recently moved home, you don’t give regular readings, or your energy use fluctuates.

Once we have an idea of how much energy you use – we can then work out the cost

Your tariff (unit rates and standing charges)

How much your energy costs depend on your tariff’s unit rate and daily standing charge. A unit rate is a price per unit of energy (pence per kilowatt hour) and if you’re on a fixed tariff, this won’t change during your contract. A standing charge is a price per day (pence per day) which will also be fixed during a fixed tariff.

We take your estimated annual energy usage and multiply this by your tariff rates for the next 12 months. We can now say how much your energy might cost in a year.

For customers on our variable tariffs the costs are worked out the same, but they can go up or down. We will always provide a minimum of 30 days-notice if we change our prices.

Once we have your estimated usage and the tariff price you have chosen -we can work out your monthly Direct Debit payments

Your account balance

If you’ve been underpaying, your account balance will be less than it should be, possibly in debit. We will suggest a payment that covers both your expected usage, as well as the shortfall that’s already happened.

If you’ve been overpaying by a lot, we will offer a refund as well as lowering your payment amount. For small over-payments, we will just lower your payment amount.

If it’s been a while since you provided meter readings, your current account balance will be based on estimates, so it might not be accurate.

Can I have a refund?

To see if your account qualifies for a refund, we will make a number of checks to see if this is possible. These include;

  • Ensuring your account has an up-to-date meter reading
  • Confirming your Direct Debit is adequate to meet your energy consumption
  • Identifying your supply start date and 12 month anniversary

Please note:

Your monthly Direct Debit amount will be based on the amount of energy we think you’ll use each year of your contract and either divided equally by 12 or weighted according to winter/summer seasonality. Under the weighted method, Winter Direct Debit amounts run from October-March, Summer Direct Debit amounts run from April-September.

We will always let you know the outcome of your request within 14-days.