Basically, my friend got shocked when he saw 118$ for yesterday electricity usage versus other days of $5 to $15 per day. $118 for a day because of price spike.
He recently upgraded to smart meter as well.
Australian Energy Regulator admits to serious concerns over time-of-use tariffs
https://www.abc.net.au/news/2024-04-20/aer-admits-to-serious…
He checks his wholesale price changes frequently.
Always on his toes you could say.
He will be moving electricity very soon before he can enjoy 6 months promo of no fees.
Price spikes are rare events that occur when the wholesale price temporarily climbs up to a maximum of ~$19/kWh (inc. GST) in most states, and up to $21/kWh in SA (inc. GST).
https://help.amber.com.au/hc/en-us/articles/360050667951-Wha…
Update:
Did some more digging after more advice from the comments; basically amber and alike industry needs to send this below info/link to new customers during their cooling off period in good faith or even during sign up:
Is my household a good fit for wholesale pricing?
https://help.amber.com.au/hc/en-us/articles/360045271232-Is-…
There's ya problem