After a relatively quiet weekend in the energy sector, the average price of electricity started the week with a rebound in its cost. Therefore, this Tuesday, June 20, light is expected to reach 111.74 euros per megawatt hour, which is 4.7% higher than Monday, which marked 106.72 euros on this day.
June marks a much higher peak in prices than other days when electricity is actually cheaper. Thus, the electricity pool average is over 89 euros per megawatt hour, almost half of the 169 euros recorded on the same dates exactly a year ago.
As for the time slots that consumers have to take into account, the highest price is reached during dinner time, from 9:00 pm to 10:00 pm, at a maximum of 142.25 Euro MW; After the minimum meal from 3:00 pm to 4:00 pm it costs 88.78 euros.
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’ has been 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 softer.
In the original contract, the aforementioned reference price for gas had an average value of 48.8 Euro/MW: it was 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 has no effect on processes partially applicable to wholesale markets since the end of February, due to the fall in the price of natural gas below the limits set for its use, but, if necessary, an extension will be allowed. Maintain a reasonable price and do not depend on the evolution of natural gas.
To reduce consumption and reduce electricity bills, you can follow the following tips:
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.
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.
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.