Usage rates, also called tariffs, are the way you are charged for using electricity or gas. Choosing the right tariff for you home can help reduce energy bills. Electricity tariffs include:
Single rate tariff: No peak or off-peak periods. You pay the same rate 24/7. This is a good option if you are home a lot in the evenings Monday to Friday and need to use appliances at these times.
Time of use: The price of electricity varies at different times of the day. Rates include peak, shoulder, and off-peak. This can be a good plan if you are home during the days or on weekends. You will require a smart meter to carry out time-of-use readings.
Controlled load: This is often the best solution for some appliances, such as a water heater or underfloor heating. The rate is charged specifically for individual appliance energy usage.
Demand: These tariffs are charged on top of supply and usage charges. Demand tariffs are a measure of kilowatt (kW) usage. For example, demand is high when many appliances are running at once. Retailers have different ways of charging demand tariffs, so make sure to speak with a GoSwitch energy specialist if you have any questions.
Gas tariffs: Natural gas users can expect to pay usage charges and supply charges. Usage charges are the tariffs for gas you actually use, while gas network supply charges are ongoing daily tariffs, regardless of how much gas you use.