Electricity - Single Rate (flat rate) vs Time of Use (Peak/Off Peak Rate)

OzFrugie on 23/11/2017 - 01:15
Last edited 23/11/2017 - 09:36

Hi fellow Ozbargainers,

I am currently living in NSW and use AGL for my electricity (and gas) providers with single/flat rate plan.
I have been thinking to switch my plan from single flat rate to time-based i.e. peak/off peak rate since I think it will/may save me some money because during weekdays 3 out of 5 days, no one is at home unless my partner is working from home (so, computer use).
Most of high electricity consumption usually is at night time, e.g. dishwasher, washing machine, dryer.
Currently, since my rate is flat rate, we just turn on the above appliances at any time as needed, but if I switch to peak/off peak rate then I will try my best to do them after 10pm, when it's at the cheapest.

One thing I noticed though the daily usage charge for peak/off peak is higher than single rate so some savings (if any) will be eaten by that daily usage fee difference.
And also, the peak hours charge is around double the single/flat rate charge (off peak is around half of the single/flat rate).

Do you think it's a good idea to switch to time of use (peak / off peak) rate in this case (and why)?
What type of rate does your household currently use?

Bit off topic - I would like to get some insights on how many kWh my electrical appliances are using per day so I can make a data-driven decision. Is there a smart plug of some sort that can track the consumption which you can recommend?

Poll Options

  • 0
    Yes - good idea to switch to peak/off-peak rate
  • 6
    No - stay with single/flat rate
Electrical & Electronics

Comments

  • Amaris on 23/11/2017 - 05:37
    +1

    I presume you have a smart/ semi smart meter capable of ToD metering. If so why don’t you switch for a three month period and see what your bill is like. Once you get the bill you can plug in the flat rate tariffs and find out what the bill would have been had you kept that rate.
    If you don’t like the new tariffs you can always switch back.

    • OzFrugie on 23/11/2017 - 09:37

      Hi mate,
      No I dont have smart/semi smart meter. I live in a unit.
      This is why I want to get a smart plug which can do the same function (but in appliance-level), but not sure which one to get?

      • Amaris on 23/11/2017 - 10:12

        Hey
        I'm sorry but I'm a bit confused…AGL or any other power company can't switch you to time of use metering unless you have a capable meter. If you want to just try there's nothing stopping you from asking the company to fix a (free) smart meter, trialling time of use rates and then if you don't like it going back to the flat rate.

        • OzFrugie on 23/11/2017 - 11:35

          Hmm.. maybe my unit block has it (I don't know). I notice that every night at 10pm, my dimmable LED light would flicker. Electrician said that it's because off-peak cycle kicks in, so maybe my building has it.. not 100% sure though.
          Maybe someone can enlighten me here.

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