Electricity prices rose by around 45% from Sunday to Monday, and the rise did not stop on Tuesday, July 18. The average price of electricity for regulated customers connected to the wholesale market will rise by 10.4% on Tuesday compared to Monday, to 96.62 euros per megawatt/hour (MWh).
Unlike months ago, when the cheapest hours were concentrated in the early morning hours, the weeks between midnight and dawn are paid more expensive light than more central hours of the day.
So. By time slots, the highest price, 120.01 Euro/MWh, is recorded between 9:00 PM and 10:00 PM, while the lowest price is 81.66 Euro/MWh, between 2:00 PM and 3:00 PM. . And from 12:00 PM to 9:00 AM, all time slots are the most expensive of the day, except dinner time, which is the most expensive time to start electrical appliances.
Cost of light per hour
From 00 to 01: 100.28 euros/MWh
From 01 to 02: 91.80 Euros/MWh
From 02 to 03: 91.10 Euros/MWh
03 to 04: 91.80 Euros/MWh
04 to 05: 89.99 euros/MWh
05 to 06: 91.80 Euros/MWh
06 to 07: 96.88 Euros/MWh
07 to 08: 108.65 Euros/MWh
08 to 09: 110.00 Euros/MWh
09 to 10: 97.75 euros/MWh
From 10 to 11: 91.80 euros/MWh
11 to 12: 89.74 euros/MWh
12 to 13: 84.74 euros/MWh
13 to 14: 81.99 euros/MWh
14 to 15: 81.66 euros/MWh
15 to 16: 81.90 euros/MWh
16 to 17: 84.78 euros/MWh
17 to 18: 96.90 euros/MWh
18 to 19: 98.85 euros/MWh
19 to 20: 98.85 euros/MWh
20 to 21: 110.31 euros/MWh
21 to 22: 120.01 euros/MWh
22 to 23: 118.00 euros/MWh
23 to 24: 109.30 euros/MWh
The 'pool’ of electricity so far in July has averaged 91.8 euros/MW, compared to 142.66 euros/MW in the same period last year.
To the average price of this 'pool’ is added the compensation to the gas companies, which is to be paid whether the consumers who are the beneficiaries of the metering, the consumers of the regulated tariff (PVPC) or the company itself. The free market has an indexed rate, but it is again 0 euro/MW, which has been repeated since February 27.
The so-called 'Iberian exception’ was extended until December 31 after an agreement reached by Spain and Portugal with the European Commission. Therefore, it has been extended for seven months till the end of this year and it is not ruled out that if the said framework is also extended it may be extended for a longer period.
In particular, the agreement not only represents the extension of the Iberian exception already used, but also some changes to accommodate it, namely the price reference, which until now has increased by five euros per month, will now be soft.
In the original contract, the aforementioned reference price for gas had an average value of 48.8 Euro/MW: this would be 40 Euro/MW for six months, rising by 5 Euro/MW every month thereafter. Now, it will end up at 65 Euro/MW, up 1.1 Euro/MW from last April.
Currently, the mechanism does not have any effect on the partially applicable processes in the wholesale markets since the end of February due to the drop in the price of natural gas below the limits set for its use, but maintaining a reasonable price that allows an extension, if necessary, not dependent on the evolution of natural gas.
How to save electricity bills
To reduce consumption and reduce electricity bills, you can follow the following tips:
Household appliances
To reduce consumption, it is advised to:
– Unplug electrical appliances when away from home for long periods (vacation). Especially the fridge freezer It consumes up to 30% of total household consumption.
– Avoid leaving them on „stand by” as they will continue to spend even if they don’t consume.
– Try to use sunny weather to dry clothes.
hot water
It is recommended that:
– Use hot water wisely. Care should be taken not to open a tube more than necessary.
– Generally, a water temp Between 30ºC and 35ºC That might be enough.
Lightning
It is recommended that:
– Gradually replace incandescent and halogen bulbs with LED technology, as it uses ten times less power than incandescent bulbs and has a ten times longer useful life, saving 85% of energy.
– Use natural light by turning off lights in naturally lit areas, open spaces or glass walls that contribute to passive surveillance.