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Single rate tariff
A single rate tariff is the most common tariff for Victorian residential electricity customers. You pay the same rate for electricity regardless of time of day you use energy. A single rate tariff is sometimes called: flat rate, standard rate, anytime rate, or peak rate.
Controlled load tariffs
Some appliances can be charged a controlled load tariff, for example: slab or underfloor heating, or electric hot water systems. Often the controlled load appliance has its own meter and is an appliances that runs overnight.
Time of Use (TOU)
This tariff is also known as “Peak / Off-Peak” and is one of the most cost effective tariffs for the average Victorian household. However the network companies have now closed this tariff to new entrants. If you are currently on a peak / off-peak tariff, be careful not to switch to another tariff unless you’re confident the change will be for the better, because you will not be able to go back.
Flexible pricing means that electricity costs different prices at different times of the day. There are 3 rates: Peak, Off-Peak & Shoulder
Here is an example of a typical flexible pricing plan.
The price of electricity is lower than the peak rate and higher than the off-peak rate, when there is a reduced demand for electricity.
Peak: The price of electricity is higher during the ‘peak’ times, typically on weekday afternoons and evenings, when the demand for electricity is the highest.
Shoulder: The price of electricity is lower than the peak rate and higher than the off-peak rate.
Off-peak: The price of electricity is lowest when the demand for electricity is the lowest.
Generally the peak period applies 3pm to 9pm Monday to Friday, off-peak period applies 10pm to 7am every day, and all other times are shoulder. Daylight savings time applies during daylight savings period.
Not all network areas and tariffs follow these exact time periods. For more specific details on what time of the day is considered peak, off peak and shoulder please refer to: https://www.globirdenergy.com.au/flexible
Flexible pricing can save you money if enough of your energy use is in the shoulder or off-peak times.
Understanding the way you use your power is important, and will help you decide the best tariff for you. A flat rate might be best if are at home a lot in the evening Monday to Friday. A TOU tariff might be best if you use most of your power at night.
The Victorian government have a “flexible pricing profiler” tool available online here: http://switchon.vic.gov.au/more-ways-to-save/flexible-pricing-profiler
You can apply to change your tariff, but there may be a cost to do this. You need to be a customer of GloBird before we can apply to change your tariff. Changing tariff can take up to three weeks depending on the local distributor in charge of your meter. Some tariffs are closed or no longer available. The tariffs available to you are set by the distributor.
Let us know if you need advice choosing the most cost effective tariff for you, we are happy to help. Call GloBird Energy on 1300 456 247