Tuesday, March 14, 2023
New demanding day for the pockets of consumers due to the rise in the price of electricity today. If yesterday the increase was 67%, today we will have to add 116% more, which raises the cost of the 61 euros per megawatt hour that we paid on Monday to the 132.68 that will be paid this Wednesday, March 15, at the regulated rate linked to the wholesale market. According to the data communicated by the Iberian Energy Market Operator (OMIE), the average cost so far this month is 32 euros more than in the same period of February (134 euros/MWh times 102).
Due to this context of high prices that has been maintained at the European level since the start of the war in Ukraine, specialists in energy saving advise families to monitor and contain consumption in homes. One of the main tips is that the appliances remain unplugged while not in use, as well as take short showers and, among other saving measures, pay attention to when to start the five appliances that consume the most electricity: the dryer, the dishwasher , the refrigerator, the washing machine and the television.
Greater contribution of renewable energy
The lowest electricity prices at the beginning of 2023 have been possible thanks to the good weather conditions that favor the generation of green energy. The rain that filled swamps in December and these days, especially the strong wind throughout the peninsula, are helping hydroelectric and especially wind power to account for just over 60% of the total energy generated so far this week, according to data. of Red Eléctrica. Specifically this Tuesday it was 61%.
In recent days, consumer costs have fallen due to the growth of green energy. The growth in the number of wind farms in Spain is being noted very positively, with 395 new wind turbines installed in 2022, according to data from the Wind Business Association. Thanks to this growth, last year wind power increased by 100% to reach 1,670 MW. The data from said organization ensures that this increase in parks “made Spanish citizens save a total of more than 8,252 million euros on their electricity bills, 18%.”
Increase in electricity bill
The Consumer Organization has revealed this week the high electricity bill that consumers have paid this past February, with an average increase of 35% (for households with PVPC rate). Specifically, they have gone from paying an average price of 56 euros in January to 76 in February.
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The OCU highlights in its statement that the wholesale price of electricity has risen “due to the lower impact of renewable energies and the lack of application of the gas cap.” Hence, this organization claims “the extension of the VAT reduction to meat and fish” and warns that “we must not lower our guard” in the face of the inflation we are experiencing.
Price of electricity today by the hour
The electricity tariff on the wholesale market directly influences the final cost that the consumer has to pay to start up their household appliances hour by hour.
Price of light today March 15
Cheapest hour:
14.00-15.00 h, con 107 euros/MWh.most expensive hour
19.00-20.00 h, con 190 euros/MWh.
With this new increase in electricity costs, the electricity bill is more expensive today, especially from seven to eight in the afternoon, with 190 euros/MWh, while the cheapest to start up the appliances with the highest consumption is from two to eight. three, with 107 euros/MWh.
Advantages of the Iberian exception
The ‘Iberian mechanism’, which came into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh for a period of twelve months, thus covering winter, the period in which that energy prices tend to be higher. This mechanism was approved after the price of light reached a maximum of 700 euros per megawatt hour in March of this year. The so-called ‘Iberian exception’ sets a path for natural gas for electricity generation from a price of 40 euros/MWh in the initial six months, and subsequently, a monthly increase of five euros/MWh until the end of the measure. From this Thursday and throughout the month the price will be 55 euros/MWh.
The prices of the ‘pool’ have a direct impact on the regulated tariff -the so-called PVPC-, to which almost 11 million consumers in the country are covered, and serve as a reference for the other 17 million who have contracted their supply in the free market . For this reason, one more day the price of electricity will vary significantly from hour to hour throughout the day again, depending on the tolls and charges established in each of the hourly bands of the electricity tariff.
Tips to save energy at home
In all homes we have large electrical consumption appliances. According to a study by the OCU, the household appliances that require the most energy are, in this order: dryer, dishwasher, refrigerator, washing machine and television. What consumers can do is make the most of the capacity of the refrigerators and adjust the thermostat between 4º and 6º, and above all avoid that the door remains open for too long. When choosing its location, it is very important that the fridge is located away from the oven, a radiator or a sunny window or balcony. Other tips that serve to save on the electricity bill are not leaving mobile chargers or headphones connected for longer than necessary, turning off devices that are not being used, not leaving the television on if it is not being watched, etc.