This is how it used to be in Finland, too. More houses than in many other countries are heated electrically. With the cold winters here the variation is extra big.

Still since a couple of years ago bills have to be paid according to monthly (sometimes bimonthly) real consumption. I had the feeling this was even a regulatory requirement to make people aware of the real costs and encourage saving. Cannot find a reference to that now. Either I remember it wrong or the search results are just too polluted by marketing pages.

All meters are read remotely with hourly precision. An increasing share of households has spot price contracts. So the price changes every hour. Sometimes negative, sometimes 60 cents/kWh or more to mention the extremes. Switching to 15 minute pricing is on the way already