Are you looking for the best Time of Use (TOU) energy rates on the Coffs Coast? Well, I have done the hard work for you. Read my blog: The Best TOU energy rates on the Coffs Coast
PUBLISHED May 2019 & Written by Mark McClurg, the owner of Coffs Solar Energy
It has taken me quite some time, but I eventually got around to doing something that I have wanted to do for many months. I wanted to compare the top 5 time of use (TOU) residential rates on the Coffs Coast.
The first thing I need to do is quickly explain time of use rates.
Time Of Use (TOU) tariffs apply different prices for electricity at different times of the day. Time is divided into Peak, Shoulder and Off-Peak periods which reflect the level of demand on the electricity network. During Off-Peak periods electricity prices will be cheaper than at other times.
To take advantage of TOU tariffs you will require a time of use capable meter. New smart meters will have this functionality. If you have a solar system installed, then chances are that you have a TOU ready smart meter installed.
There are three periods for TOU pricing: Peak, Shoulder and Off-Peak. Generally, prices are highest in Peak times and lowest in Off-Peak times.
Peak: 7am – 9am and 5pm – 8pm on weekdays Shoulder: 9am – 5pm and 8pm – 10pm on weekdays Off-Peak: All other times
If you are a working family – as in two working adults with kid(s), then you should absolutely be on TOU billing. It will save you money compared to being on single tariff billing with or without off-peak.
For this energy retailer comparison, I used the following energy usage profile.
- 20% of energy usage during shoulder times
- 40% of energy usage during Peak billing times
- 60% of energy used during off-peak times (remember all weekend is off-peak)
I assumed the household uses 24kWh per day (after solar, if you have solar PV installed)
Based on a 90-day energy account:
- 360kWh Shoulder times
- 720kWh Peak times
- 1080kWh Off-peak times
Total energy draw of 2160 kWh
Total solar Feed-in of 1080 kWh
For those who have solar installed, I assumed an average of 12kWh export per day (typical on a 5kW solar system)
I compared the 5 major energy retailers operating on the Coffs Coast:
- Origin Energy
- Power Shop
- AGL
- Energy Locals
- Red Energy
Next, I researched the current best advertised TOU rates available online and on https://www.energymadeeasy.gov.au/
applicable to the Essential Energy Network in our area (postcode 2450)
| Energy Retailer | Plan | Off-Peak | Peak | Shoulder | Supply Charge | Solar FIT |
| Origin Energy | Low Rate Plan | 13.8 | 25.27 | 23.66 | 155.11 | 8 |
| Power Shop | Power Saver 12% off | 17.82 | 26.59 | 23.93 | 132.62 | 10.2 |
| AGL | Essentials Plus | 14.4 | 27.3 | 26.5 | 151.47 | 11.1 |
| Energy Locals | Super Saver | 15.99 | 24.99 | 22.99 | 155 | 9 |
| Red Energy | Living Energy Saver | 15.3 | 27.9 | 27.43 | 126 | 11.1 |
Rates indicated are in cents – ex GST
| Energy Retailer | Plan | Off-Peak | Peak | Shoulder | Supply Charge | Solar FIT |
| Origin Energy | Low Rate Plan | $149.04 | $181.94 | $85.18 | $139.60 | $86.40 |
| Power Shop | Power Saver 12% off | $192.46 | $191.45 | $86.15 | $119.36 | $110.16 |
| AGL | Essentials Plus | $155.52 | $196.56 | $95.40 | $136.32 | $119.88 |
| Energy Locals | Super Saver | $172.69 | $179.93 | $82.76 | $139.50 | $97.20 |
| Red Energy | Living Energy Saver | $165.24 | $200.88 | $98.75 | $113.40 | $119.88 |
When I entered the power consumption stats, the results were fascinating.
| no solar | with solar | ||||
| Energy Retailer | Plan | Total | Total Incl | Less FIT | |
| Origin Energy | Low Rate Plan | $555.76 | $611.33 | $524.93 | |
| Power Shop | Power Saver 12% off | $589.41 | $648.35 | $538.19 | |
| AGL | Essentials Plus | $583.80 | $642.18 | $522.30 | |
| Energy Locals | Super Saver | $574.88 | $632.37 | $535.17 | |
| Red Energy | Living Energy Saver | $578.27 | $636.09 | $516.21 | |
Hence the results are:
Best Energy Retailer for TOU billing with solar PV installed
- Red Energy
Best Energy Retailer for TOU billing with no solar PV Installed
- Origin Energy
But the fascinating observation is that there is hardly any difference between these 5 companies. Certainly, if you factor in solar (most people have solar PV installed nowadays) then the difference between the best and worst deal is $21.98 over 90 days!
For me, I would never have imagined just how close it would be.
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