Time of Use is a tariff where the electricity costs differ depending on the time of day it is used. There are three different price periods:
‘Peak’ period electricity costs the most. Peak rates apply during the morning sand evenings on week days days.
‘Off-peak’ electricity is the cheapest. Off-peak rates usually apply late at night through to early morning week days and all day Saturday and Sunday.
‘Shoulder’ period electricity applies between peak and off-peak periods, e.g. late morning to late afternoon. At this point in time the shoulder rate is the same as the peak rate, but this may change from July 2017.
Customers with solar panels or those that have installed a smart meter can take advantage of ToU because the meters record consumption in different time periods.
For more detailed information see our Energy Price Fact Sheets.