We switched to the smartmeter and the time-of-use price plan quite a few years ago (7 or 8?). It was free of charge, and they promised that if we did not save money compared to the fixed rate schedule, they would switch us back. Initially, we were skeptical, but were soon convinced.
Even now, they still show in the invoice how much we save each month, and we save money every month. For example, it was $56 last Aug, out of a bill of $375 (would have been $431 for the fixed rate). Over 12 months, the savings were around $300.
The only lifestyle change we have to make is for me to set the pool pump timer to run off-peak, and to avoid electricity usage during the on-peak period. The latter effort mainly includes avoiding taking showers and running laundry loads. Cooking, TV watching, computer usage, etc... are done as usual.