If your electric bill seems to take more and more out of your pocket each month, there are ways you can save on electricity without living in a pitch-black, air-conditioning free world. The Economy 7 electricity tariff can be an option for cost-savings, providing you use it in the correct manner. The tariff charges one price for electricity usage between peak hours, typically between 6 a.m. and 11 p.m., and a lesser charge for the other seven hours, usually between 11 p.m. and 6 a.m. Here are some signs you could save with Economy 7.

1. You Use at Least 40 Percent of Your Electricity Between 11pm and 6am

Economy 7 electricity plans often charge a higher electricity rate during the 17 hours of the day, both as a means to encourage a reduction in electricity usage and as a way to offer reduced-price incentives later at night. While you do not have to use all your electricity at night to reap the benefits of Economy 7, you do need to use at least 40 percent of your electricity at this time.

Calculating this amount can be difficult, but if you are a night owl, work most of the day or travel frequently for your job, you are less likely to use a large percentage of your electricity during peak hours. Try tracking your electricity use for a few days to determine when you are more likely to use high-energy items, such as your water heater, lights and heating or cooling system.

2. Your House Is Well-Insulated.

Turning your air conditioning or heating on and off several times over the course of a day to adjust for peak and off-peak hours can be counter-productive if your home is not well-insulated. That’s because your cooling or heating system will have to work overtime to adjust for the change in temperature when you turned it off or down.

Homes that are well-insulated, however, maintain their temperature at better rates. For example, if you have energy-efficient windows with a double pane or those designed to absorb solar heat, your home retains its cold or warm temperature more effectively. Making these modifications to your home can mean you are able to turn your system off during the higher-priced hours and back on again when the hours are discounted, if desired.

3. You Don’t Mind Watching The Clock

Saving money with Economy 7 can help you if you don’t mind being especially observant regarding your energy usage. You must watch the times you use the most energy and be willing to change some of your behaviors around energy use, such as washing your clothes very late at night or early in the morning. Saving with Economy 7 is best-suited for those who are regimented and like a schedule. An added bonus is if you have appliances such as a dishwasher, washer and dryer that can be set on a timer. You can set them to turn on in the evening while you are asleep in order to use the least expensive energy possible.

Starting with Economy 7 can mean trial-and-error, even if you have been watching your schedules closely. You may get your first bill and be surprised to find you are using more energy during the peak hours than you expected. Read your bill carefully and determine what changes you can potentially make to use your energy more wisely, and you may find you save in the end.

Remember that Economy 7 times can vary based upon the area in which you live. Some areas have discounted times between midnight and 7 a.m. while others use 1 to 8 a.m. You will want to ensure you know the exact hours so you can most effectively use Economy 7 to your advantage.

If You Change Your Mind

Typically, making the switch to Economy 7 is not a permanent commitment. If you find your habits aren’t quite what you thought when it comes to saving money on your electricity bill, it’s likely your electric company can switch you back. Be warned this could mean some added costs for potentially switching your meter. You will also want to ask about your rates when you switch back. If you have used Economy 7 for a while, you may be surprised to find regular rates have gone up.