Cheapest Time To Use Electricity In Spain Revealed
Spain News
Published: 16 March 2022 14:06 CET
It’s no secret that the price of electricity is at an all-time high with consumers concerned about the ever-increasing costs of running household appliances.
According to the latest data from the Iberian Energy Market Operator (OMIE) the price of electricity this Wednesday, March 3, increased once again by 5.6% pushing it to 263.65 euros per MWh (Megawatt hour).
Although the price is still a lot lower than the record-breaking prices registered on March 8, where the price hit 544.98 euros per MWh, Spanish consumers are still worried about the impact it will have on their finances.
Although there is still much uncertainty over how the current world events will affect energy costs, the prices have stabilised in recent days, removing some of the pressure on consumers.
So when is the cheapest time to use your appliances in Spain?
The cheapest time to run your appliances is between 11 pm and 12 am when the price is at around 191.54 euros/MWh.
This is in comparison to the most expensive time which is between 8 am and 9 am when the price per MWh will hit 306.7 euros.
According to Selectra.es, the most expensive hour of the day will be between 8 pm and 9 pm where the price per kWh (Kilowatt hour) will be 0.439 cents.
If you are looking to save money, the cheapest hour will be between 11 pm and 12 am when the price will be 0.274 euros per kWh.
The cheapest period of the day is overnight between 11 pm and 6 am and is when prices are collectively the cheapest.
Putting appliances such as washing machines and dishwashers on during these periods is the most cost-effective.
For example, a washing machine will cost 73 cents to run at 8 pm. However, washing the same load during off-peak hours will cost 59 and 60 cents per hour. From 11 pm when the costs are lower, the price is reduced further to around 45 cents per kWh.
Dishwashers are also energy-hungry and running these at certain times of the day can also result in savings.
Running a typical dishwasher at the most expensive time of day will cost around 63 cents per hour compared to just 39 cents per hour during the off-peak periods.
Cooking food in an electric oven will cost around 80 cents per hour during the most expensive time of day (8 - 9 pm) but falls by around 50 cents per hour during the cheapest hours.
Although pricing has stabilised, it appears that March will go down as the most expensive in history for consumers with the average price standing at 332.14 euros. This is a whopping 93 euros more than it was in December 2021.
Source
https://www.20minutos.es/noticia/4971385/0/precio-luz-estas-son-horas-mas-baratas-enchufar-electrodomesticos/
