Consumers will have to be attentive this Friday, January 5, 2024. There will be times when putting on the washing machine, ironing or using the oven will be more advisable. Knowing which are the cheapest allows you to concentrate your spending and save on your bill at the end of the month. The average reference for the entire day in the wholesale market will be 68.62 euros per megawatt hour (MWh), according to the operator OMIE. Again, hour by hour there will be big differences.
The wholesale market figures are reflected in the consumer’s receipt. The most expensive hour will be reached between 8:00 and 9:00, when the price on the invoice will rise to 0.9088 euros per kilowatt hour (kWh), based on data from Red Eléctrica. The cheapest hour, on the opposite side, will be recorded between 3:00 p.m. and 4:00 p.m., when the kilowatt hour will be paid at 0.03055 euros.
This is the hour-by-hour cost of electricity for this Monday at the regulated rate (PVPC, toll 2.0 TD), according to Red Eléctrica. These figures already include the cost of the daily and intraday wholesale market, adjustment services, financing, the cost of variable marketing, tolls and charges. It may also have other concepts such as payments for capacity, surpluses or deficits from renewable auctions and costs for interruptibility services.
The regulated bill prices are dynamic, indexed to the wholesale electricity market. As the energy demand per hour is the factor that determines the price of electricity in each time slot, the cost of electricity per hour varies constantly. Thus, with greater demand in peaks of cold – for heating – or heat – for air conditioners, for example -, prices rise. In addition, it must be taken into account that costs such as adjustment services, marketing, tolls and charges, capacity payments or interruptibility costs, among others, may vary every hour.
