EnergyAustralia has a new way of charging for Victorian smart meter electricity use, called flexible pricing (or ‘time of use tariffs’). These new plans charge different rates for peak, shoulder and off peak. You’ll typically pay higher rates for the electricity used at peak times, lower rates during the shoulder period and the lowest rate at off-peak times.
Flexible pricing products are available in addition to our current products and can reward those who use electricity during lower cost times. Victorian smart meter customers have the choice to move to flexible pricing plans or remain on their current flat rate plan.
Flexible pricing rates
Flexible pricing times
|Shoulder||Mon-Fri 7am-3pm & 9pm-10pm, 7am-10pm weekends|
|Off-peak||10pm-7am all days|
The existing time of use products do not need a smart meter, just one that can take the multiple readings of peak, off-peak and shoulder. These three time bands also differ from the new Flexible Pricing plans.
Households who regularly use electricity in shoulder and non peak periods or who are willing to change their behaviour to using electricity in non peak periods.
Not all households will be better off on a flexible pricing plan, for example those who use more during peak times (3pm-9pm Mon to Fri) and can’t or are unable to change their usage patterns may have higher bills on a flexible rate plan.
If you are on a controlled load meter feed (pool pumps/underfloor heating, etc) you may not be better off on a flexible pricing plan. This is because some controlled load rates allow for a “boost” load in the early afternoon which would mean that you would incur shoulder and/or peak usage rates at this time. You could choose to change the setting of this if you wanted to take up a flexible pricing plan or stay on your controlled load plan. (Flexible pricing plans are not configurable with a controlled load).
Unfortunately you are bound by the rates of your current plan until such time as you might change plans.
The new flexible pricing products are currently only available for Victorian residential customers with a remotely read smart meter.
No, these products are for electricity only as they’re linked to smart meters.
We offer three flexible pricing plans for Victorian residential smart meter customers, so you can choose what suits your household best. If you wish to change to another flexible pricing electricity plan, you can.
Flexible pricing allows you to pay lower rates in shoulder and off peak periods compared with other plans that do not have this time structure.
Yes, as long as the new home has a remotely read smart meter and is in Victoria, please note different rates will apply for different distribution zones.
The flexible pricing plans have a 15% pay by due date discount. The benefit of flexible pricing is you are in control of when you use energy and therefore which rate you are charged at and for how long. Carefully assess which plan will be the best discount or rate for your usage patterns.
Yes you can, unless you are in the SP AusNet distribution zone. SP AusNet is currently experience difficulties in applying feed-in tariffs for customers who switch to a flexible price.
Yes you can. You should, however, consider the differing times and rates for the flexible offers in comparison with your existing product. If you are receiving a feed-in tariff this will not be affected by switching to a flexible price, unless you are in the SP AusNet distribution zone.
Not all households will be better off with flexible pricing. If you use more during peak times and can’t or are unable to change your usage patterns you may have higher bills. Flexible pricing could result in lower bills for households that already use less of their energy during peak times and/or would be willing to change their use to off-peak times. Current electricity discounts should be taken into consideration when comparing. Call us on 1800 120 084 to see if flexible pricing is for you.
Flexible pricing bills will display usage and costs split by peak, shoulder and off peak periods.
Other names you may hear referring to flexible pricing:
Time of Use Tariff (TOU)
Smart meter products/tariff