For longer durations that would be fine, rapid on and off switching of the power supply can lead to power supply failure. For example if you wanted it off at night or for a few hours at a time, that would be fine.
The 7092 has the same functionality as the built in 7090, it does not have an interval, the 7095, 7096 or 7097 is needed for interval functions. On either of those the interval can be as long as 12 hours.
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