depends on many factors. If the geyser have a lot of heat loss like older, not well insulated, unitstherewill be a saving.
If the geyser is switched off and only sheduled to switch on once a day, in time to heat the water for the whole family to bath and still leave some hot water for breakfast and face wash and then switched off again. Due to the reduced/lack of heat loss during the off period there will me a cost saving. If the heat losses from the geyser/pipes are are very small then leaving it on will make little cost difference. If the geyser temperature is set very high, like in my case, then the losses will be much greater and therefore costs much more. I have a big familly and the 200L+ geyser need to satisfy all.
The size of the geyser also plays a role. Its best to only heat the water volume you need so a correctly sized geyser for the family makes a difference. To heat 200L+ water when only 50-100L is required defeats the object much like boiling a full kettle of water for 1 or 2 cups of tea, so a good investment could be the instant boilers (gas or electric) at basins for hand and dishwashing and then shedule the main geyser for bath times only. Then a solar geyser also comes to mind. Geysers, stoves, ovens, kettles and irons are the real gazz guzzlers so working the savings around those would save a lot fortheextended families.