What are the differences between these tariffs: Flat Rate, Time of Use (ToU) and Spot Price?

Flat Rate tariff

Same cost for your electricity throughout the entire day (e.g. 24 cents/kWh).

Time of Use tariff

This tariff is designed so you pay a different rate for your electricity depending on what time of day or what day of the week it is. Time of Use tariffs may have periods of high prices (Peak), medium prices (Shoulder) and low prices (Off Peak). If you have Intelligent Control for your home battery, this is the type of tariff you should consider.

As an example:

  • 7am - 3pm (Shoulder) you may pay 28 cents/kWh
  • 3pm - 8pm (Peak) you may pay 45 cents/kWh
  • 8pm - 10pm (Shoulder) you may pay 28 cents/kWh
  • 10pm - 7am (Off Peak) you may pay 18 cents/kWh

Spot Price tariff

'Spot pricing' refers to the wholesale price of electricity on the grid at any given moment. By being exposed to spot prices, the cost of the electricity you consume will vary throughout the day depending on the amount of renewable energy being fed into the grid and the total demand (power requirement) needed to power homes in your state.

This type of pricing presents a new range of exciting opportunities for your battery to generate savings by trading your energy against the fluctuation wholesale prices.

If you have any questions, feel free to contact our team on 1300 157 867 or info@evergen.com.au.