Flat, time-of-use and demand tariffs.

Flat rate (single rate)

One price for every kWh, whenever you use it. Simple to understand, and predictable.

Can suit: homes that use a lot of power in the evening peak and can't easily shift it.

Time of use

Different prices at different times: usually a higher peak rate in the late afternoon and evening, a cheaper off-peak rate overnight, and often a shoulder rate in between. The windows are set by the tariff and vary by area, and some change with the season.

Can suit: homes that can run appliances, charge a car or heat water outside the peak, and homes with solar or a battery.

Demand tariffs

As well as usage rates, a charge based on your highest power draw, in kilowatts, during a set window, often a weekday late afternoon. Running several big appliances at once in that window raises the charge for the whole period.

Can suit: homes that keep their peak draw low, for example with a battery covering the evening.

Smart meters

Time-of-use and demand tariffs need a meter that records when you use power. When a smart meter is installed, many homes are moved onto a time-of-use network tariff, so it's worth checking which plan type now suits you.

Which is cheapest for you?

It depends on when you use power, not just how much. The Wizard prices every plan type on your usage and its own time windows, so you don't have to guess. How we compare plans.

General information, not personal financial advice. Plan rules differ by state and retailer: check a plan's own fact sheet before you sign up.