Money Saving Expert founder Martin Lewis has previously weighed in on the domestic dispute, advising his followers that the rule on when to set off power hungry appliances
There’s a common misconception floating around these days, thanks to conflicting advice on social media – is it really cheaper to use your washing machine at certain times of day? Money Saving Expert founder Martin Lewis has previously weighed in on the domestic debate, advising his followers that the rule on when to set off power-hungry appliances only applies to those on certain tariffs.
Martin Lewis has previously advised people not to use washing machines or tumble dryers before 9pm – but this only applies if you’re on a type of tariff which tracks usage and charges accordingly based on time of day, such as an Economy 7 tariff or a tracker tariff. For most energy customers, the time of day makes no difference at all to how much you’ll pay for your energy, because a standard tariff, whether variable or fixed, will not consider the time you use your appliance, even if you have a smart meter.
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However, for households on usage tariffs which track the time of day, these time-of-use tariffs, like Octopus Energy’s Octopus Tracker, will update your price, sometimes every half an hour in real-time, to give you different prices based on the current levels of demand across the country.
For those on special time-of-use energy tariffs, the cost of energy varies depending on demand. These tariffs are designed to help energy firms and the grid manage power loads, and customers can benefit from cheaper rates during off-peak times, reports the Express.
According to Martin Lewis, it’s best to run high-energy appliances like washing machines during these off-peak periods. In a Twitter post from back in October 6, 2022, Martin Lewis explained: “Most don’t have time-of-use tariffs so there’s no price difference.”
However, for those who do, nighttime is generally cheaper. He also noted that peak usage hours are between 4pm and 9pm, so it’s better to avoid using energy during this time for the sake of the UK’s energy security.
However, for households with solar panels, the advice is different. Without a battery to store energy, it’s best to use appliances during daylight hours to make the most of the free energy generated.
As Martin Lewis pointed out: “If UV solar panels, use appliances in daylight hours.” More information on Economy 7 tariffs and how they work can be found on Martin Lewis’ MoneySavingExpert website. An article posted on January 8 on the site reveals: “An Economy 7 tariff gives a cheaper electricity rate at night and a more expensive one in the day.
“These tariffs are mainly for those who use night time storage heaters to heat their home and water. Done right, it can save you money. Done wrong, it can cost you more.
“Economy 7 is often called a ‘time-of-use’ tariff, as what you pay depends on when you use electricity. There are others, such as Economy 10, but these aren’t very common anymore. All suppliers offer Economy 7 tariffs, but you’ll need a smart meter or a dedicated Economy 7 meter to get them.”
The piece also touches on another type of time of day tariff known as a tracker tariff, explaining: “Tracker tariffs are a type of variable tariff, but the rates you pay can change much more frequently than other variable deals. The Octopus Tracker and Agile Octopus tariffs, for example, can change as often as every half-hour based on wholesale energy prices.
“It’s tricky to predict whether they’ll be cost-effective for your household. However, these tariffs have been significantly cheaper than the Price Cap in recent months, so they can be real winners, but it’s crucial to understand that if wholesale prices spike, so will your bills.”
