You may need to post some pictures online somewhere,
so the equipment can be identified.
Any time you post pictures of that sort, they should be
inspected for identifying serial numbers or account numbers
and those numbers blanked out with a graphics editing tool (GIMP).
*******
This metering version, has a radio controlled register selector,
so the TOD information is transmitted on a long wave
signal (getting two purposes, from the same radio transmitter).
In other words, the metering is accurately done and controlled
by the electric company. The meter has two "registers" or
sets of digits, and the faceless box, causes the meter
to put the usage count, into one register or the other
(but not both).
https://en.wikipedia.org/wiki/Radio_teleswitch
https://en.wikipedia.org/wiki/Economy_7
Since that only controls the meter, it does not control the load.
*******
A load could be controlled by a thermostat, such that, during
the 7 hour epoch, energy is only drawn for part of that time.
Just like any heater, you don't want the tank to boil. If the
thermostat contacts "weld", usually tanks have a pressure release.
In addition to a thermostatic control (which would be used
regardless of how the electricity is billed), you can use
a timer, so the water heating only operates during the
"cheap" time. It is up to the user to adjust the rotating
clock knob, so it aligns with the current clock time.
Failure to carry out such an adjustment (rotating part is
off by some number of hours), results in a higher than normal bill.
If the wall time on a summers day was 10:10AM, then this
unit pictured, has had the knob rotated to the correct position.
When you pass your mouse over the product picture, the magnified
image will show the time better.
https://www.tlc-direct.co.uk/Products/HOE7Q.html
While the user manual is hard to find, it tells you
that you can rotate the knob. The knob has a release clutch,
that allows the wheel to be rotated with fingers. The
clockwork inside does not "rotate at high speed" or anything,
when you turn with fingers.
https://www.tlc-direct.co.uk/Technical/DataSheets/Horstmann/E7Q_U.PDF
"Adjust the clock by turning the dial clockwise."
The knob is to be turned in only *one* direction, as that's
part of how the clutch works. Generally, timer knobs
move in the same direction as the time-keeping. If you overshoot
on the first adjustment attempt, simply keep turning in the
correct direction until you get it where you want it. Not a big deal.
It makes no difference, how many full rotations of the knob are
used in a single adjustment session. The one in the picture is
a 24 hour timer, and it has no notion of days or anything.
Once the adjustment is completed, you should get the benefit
of your cheaper electricity.
On CAM-operated timers, the mechanical friction level varies as
you rotate and correct the time-of-day setting on the timer.
You will feel resistance and a "clunk" as you rotate. This should
happen as many times as there are breaks set on the knob. The
storage heater power will go On--Off--On--Off for one full rotation
(in other words, as indicated by the markings on the knob).
The incandescent lights, intensity level, may flicker as you rotate.
Try not to rotate like a villain -- we are taught in engineering
school, that rotating electromechanical control devices should be rotated
slowly, so any contact capture and release processes have time
to settle. Otherwise, knobs rotated at super-high-speed, a bit
of metal inside could jam or rub. One of the students rotated something
with a bit too much vigor, and their style got corrected.
Paul