5 signs you could benefit from a time of use plan
As WA’s energy transformation unfolds, you have the ability to take more control over your electricity costs than ever before. One of the options you may be able to take advantage of is a time of use (TOU) electricity plan such as our Synergy Midday Saver.^
Here’s your quick guide to TOU electricity plans – and five signs that you could benefit with Synergy's Midday Saver.#
What is a time of use plan?
A Time of use plan means that you pay different electricity rates (or prices) based on when you use electricity.
Generally, the highest electricity rates are during times of peak electricity demand, such as in the afternoon and evening when most people are getting home from work and school.
Our Synergy Midday Saver is a TOU electricity plan which could potentially help you save on your electricity costs by shifting your electricity consumption and using less power between 3pm and 9pm.#
How does the Synergy Midday Saver work?
Synergy Midday Saver offers three different electricity charges, with the lowest rate available in the middle of the day during the Super Off Peak time period from 9am to 3pm.# The other time periods on the Synergy Midday Saver are:
- Off Peak - from 9pm to 9am
- Peak - from 3pm to 9pm
You can view the pricing for each of the time periods here.
A TOU plan such as Synergy Midday Saver could be an option worth exploring if you’re looking for potential ways to save on your electricity costs and can shift some of your consumption from the Peak time period to the Off Peak and Super Off Peak time periods.# Shifting your electricity use to outside the Peak time period also has the benefit of helping to balance the grid, which helps maintain grid stability.
If any of the following apply to you, a TOU plan such as Synergy Midday Saver could be a good option for your household.
Sign #1: You are often home during the day
If you work from home, you’re retired or you’re generally at home during the day, you probably have the ability to use more of the electricity you need during the day. With a TOU plan such as Synergy Midday Saver, you could take advantage of the cheaper electricity rates during the day between 9am and 3pm.
Perhaps you spend many of your evenings away from home, either because of shift work or after-work activities. If this is the case, it is possible your demand for electricity at home is low during the Peak time period, from 3pm until 9pm. If you don’t need to use much energy at home during this time, you could benefit being on the Synergy Midday Saver.
Sign #2: You are thinking of installing a rooftop solar system
If you are considering installing a rooftop solar system, then taking advantage of a TOU plan like Synergy Midday Saver could be a great alternative option - as you could benefit from cheaper electricity rates during the Super Off Peak time period (9am to 3pm), which is usually when rooftop solar systems generate the most electricity, without the investment in a system.
Sign #3: You are familiar with My Account
You might already use My Account to track your usage and monitor your energy use. With a TOU plan like Synergy Midday Saver, you could take your proactive energy management one step further.
By using My Account you are able to track your electricity usage and use that data to find out where you are able to shift your electricity consumption in order to benefit from lower electricity costs during Off Peak and Super Off Peak time periods.
If you are unfamiliar with My Account, or do not have one set up yet, it’s easy to do. Simply follow the steps here.
Sign #4: You’re willing to shift some habits for potential cost savings
A TOU plan such as Synergy Midday Saver can be a great choice if you’re conscious about when you use electricity and keen to take more control of when you use electricity.
If you are willing and able to make some small adjustments to your energy habits to take advantage of the cost-saving potential a TOU plan can offer, Synergy Midday Saver is worth considering.
For example, you could start shifting your electricity consumption from the evening to during the day between 9am and 3pm by using the time delay options on your large-use appliances such as your dishwasher, washing machine or clothes dryer to take advantage of the lowest electricity price in the Super Off Peak time period.
You may also have the option to work from home more. On Synergy Midday Saver you could take advantage of being at home during the day by doing electricity-intensive chores such as a load of washing over your lunchbreak.
If you choose to switch to a TOU plan such as Synergy Midday Saver, it’s recommended to keep an eye on your electricity usage and make sure the majority of your consumption occurs outside of the Peak time period to take advantage of the lower rates.# It’s easy to do this through My Account.
Sign #5: You’re excited about WA’s energy transformation
If you’re already familiar with what a time of use electricity tariff is and how you might benefit from being on a TOU electricity plan, it’s likely that you’re keen to play an active role in WA’s energy future.
By shifting more of your electricity consumption to the Off Peak and Super Off Peak time periods, you will not only have the potential to save on electricity costs but you will also help to address issues of low load and maintain stability in the grid for everyone’s benefit.#
You might already have an electric vehicle (EV). With a TOU plan such as Synergy Midday Saver, you could charge your EV during the time period with the lowest electricity rates maximise any potential cost savings.
You could also consider making small changes to the way you use energy at home which could make a big difference to your electricity costs.
Synergy Midday Saver potential savings
As an example of the potential savings on our Synergy Midday Saver plan, here is a cost comparison based on doing a load of washing at different times of the day based on an average washing machine using about 1kWh per load.~
This is what you could save if you did one load of washing per week for the year, on the Synergy Midday Saver when compared to the standard Home Plan (A1) which has a single price for electricity regardless of when its used :~
Cost on Home Plan (A1): $15.60
Cost on Synergy Midday Saver during Off Peak time period (9pm to 9am): $11.44
Estimated savings~: $4.16
Cost on Home Plan (A1): $15.60
Cost on Synergy Midday Saver during Super Off Peak time period (9am to 3pm): $4.16
Estimated savings~: $11.44
The above examples are based on just one load of washing per week – and it’s likely that you do more. With this calculation in mind, it could be worth considering Synergy Midday Saver and how much you could potentially save by shifting your electricity consumption to occur between 9am and 3pm to align with the lowest priced Super Off Peak time period.#
Before making the decision to move to a different TOU plan like Synergy Midday Saver, it is important to carefully consider the way you use electricity. Shifting your electricity use to make the most of being on the Synergy Midday Saver, could help you to save on your electricity costs, while also helping to stabilise WA’s electricity grid.
Learn more about Synergy Midday Saver and decide if it’s right for you.
^ Synergy Midday Saver is available for residential customers only, and to be eligible a compatible meter is required. Meter installation and programming charges may apply. The Synergy Standard Electricity Agreement Terms and Conditions apply to the Synergy Midday Saver product.
# The electricity charges during the Super Off Peak and Off Peak time periods on the Synergy Midday Saver are lower than the electricity charge for the standard Synergy Home Plan (A1) (the regulated residential tariff). The electricity charge during the Peak time period on the Synergy Midday Saver is however higher than the electricity charge for the standard Synergy Home Plan (A1) (the regulated residential tariff). Ensure you do your own due diligence when decided whether changing to Synergy Midday Saver would work for your unique circumstances.
~ Estimated savings only. All amounts are approximate and calculated based on the charges that would be incurred on the standard Synergy Home Plan (A1) (the regulated residential tariff) compared to the Synergy Midday Saver with usage occurring in the indicated time period as at 1 October 2022. The age, model and how an appliance is used will affect actual running costs and how much electricity it consumes. Variances in consumption and usage habits will affect individual costs and any potential savings.