Electricity tariffs are determined by your electricity retailer. While there is a variety of energy plans on the market, there are 2 main types of tariffs: time-of-use and flat rate.
Flat rate tariff
With a flat rate tariff, also often referred to as single rate tariff, you are charged the same rate per unit of electricity regardless of the time of day.
Time-of-use (TOU) tariffs are designed so that you pay a different rate per unit of electricity depending on what time of day or 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’). Because our Evergen Energy Intelligence has the ability to store energy, with a time-of-use tariff, it is able to lower your average price of energy by charging the battery during off-peak times so that you can use the cheap energy during peak times. A time-of-use tariff gives Evergen more options to save you money, so it is generally the preferred type of tariff structure to go with your system.
You are currently on a flat rate? No worries, there is no need for you to change your current electricity tariff immediately. Evergen Energy Intelligence is designed to work with any electricity tariff and can adapt if tariffs change in the future. However, the amount of savings that Evergen can generate will be different depending on what tariff structure you are on and the energy characteristics of your home. Once your system is installed and operating for a reasonable length of time (around 6 months), we can analyse the energy characteristics of your home and recommend a tariff structure that will give you the most savings. The Evergen system will work regardless of which energy retailer you choose, meaning you are free to choose any retailer that can provide you the best deal.
If you would like to request a time-of-use vs flat rate analysis, check here to see what information we need.
If you have any questions, contact our Customer Service team.