A time of use tariff charges different electricity rates at different times, usually with higher peak prices and cheaper off-peak or shoulder periods. The times and rates vary by retailer, network and state, so check the specific offer and your energy price fact sheet. It may suit households that can shift usage, such as running appliances or charging an electric vehicle outside peak periods, but it could cost more if most of your electricity is used during peak times. A smart meter is generally needed, and an energy comparison tool can help you assess whether the tariff suits your usage.