A time-of-use tariff does not have one standard cost: rates vary by retailer, state or territory, meter and the peak, shoulder and off-peak periods. You may pay more for electricity during peak times and less overnight or at other times, plus a daily supply charge. Whether it lowers your bill depends on when your household uses power, so check your smart meter data and compare estimated annual costs rather than individual rates alone. In some areas, Energy Made Easy or your state’s comparison service can help you compare offers.