Spanish Electricity Prices Fall To A Six-Month Low
Spain News
Published: 20 April 2022 17:07 CET
Spanish electricity prices have fallen to their lowest levels in six months.
On Wednesday, April 20, the price per megawatt-hour will be the lowest registered since October 2021.
According to data provided by the Iberian Energy Market Operator (OMIE), the average price on Wednesday will be €85.19 per megawatt-hour. This is in comparison to the peak price registered on March 8, where it reached a whopping €544 per Megawatt hour.
The reduction in prices is due to a greater contribution from renewable energy sources and a reduction in the price of gas.
Although the price is considerably lower than it has been, it is still around 8.4 per cent more expensive than it was on April 20, 2021, when the price per megawatt-hour was €78.58.
The fall in prices will come as a huge relief to Spanish consumers who in recent weeks have seen the cost of electricity, gas along with petrol prices at the forecourts rocket as a consequence of the conflict in Ukraine.
This in turn pushed the country’s rate of inflation to a record high of 9.8% in March adding further misery to consumers, reducing the value of each euro in their pockets.
With the rise and fall of energy prices, it is important to know the cheapest times to run your electrical appliances and save money.
What are the most expensive times to run my appliances?
The most expensive rate on Wednesday, April 20, will be between 8 am and 9 am, when the average consumer will pay €148 per megawatt-hour.
When is the cheapest time?
In contrast, the cheapest time to run your appliances is between 4 pm and 6 pm when you will pay around €6.50 per megawatt-hour. A huge difference!
The price of electricity hour by hour
- 00h - 01h: 120,01 euros / MWh.
- 01h - 02h: 100 euros / MWh.
- 02h - 03h: 80,11 euros / MWh.
- 03h - 04h: 70,02 euros / MWh.
- 04h - 05h: 76,24 euros / MWh.
- 05h - 06h: 86,04 euros / MWh.
- 06h - 07h: 96,54 euros / MWh.
- 07h - 08h: 145 euros / MWh.
- 08h - 09h: 148 euros / MWh.
- 09h - 10h: 145,58 euros / MWh.
- 10h - 11h: 125,01 euros / MWh.
- 11h - 12h: 86,04 euros / MWh.
- 12h - 13h: 69,39 euros / MWh.
- 13h - 14h: 60,24 euros / MWh.
- 14h - 15h: 38,08 euros / MWh.
- 15h - 16h: 8,99 euros / MWh.
- 16h - 17h: 6 euros / MWh.
- 17h - 18h: 7 euros / MWh.
- 18h - 19h: 33,06 euros / MWh.
- 19h - 20h: 66,94 euros / MWh.
- 20h - 21h: 105,6 euros / MWh.
- 21h - 22h: 147,02 euros / MWh.
- 22h - 23h: 126,61 euros / MWh.
- 23h - 24h: 93,02 euros / MWh.
Source: Red Eléctrica de España
What are the cheapest days?
Spain’s energy prices are divided into three tariffs which are off-peak (Valle), peak rate (Punta) and standard rate (Llano).
How much you pay is dependent on these billing periods.
If you are on the regulated market the cheapest days to run your appliances such as washing machines, dishwashers and other energy-hungry devices will be at the weekend.
National holidays are also charged at the lowest rate.
Check out our article on how to save money on your electricity bill.
Source
https://www.elespanol.com/sociedad/consumo/precio-luz-miercoles-20-abril-hora-mas-barato-usar-electrodomesticos-factura/666183638_0.html
https://www.lasprovincias.es/economia/precio-luz-miercoles-20-abril-horas-baratas-20220419185322-nt.html
https://www.surinenglish.com/spain/cost-electricity-falls-20220419182826-nt.html
