The price of electricity shoots up 74% today, Tuesday, April 11, after several days of continuous declines. Thus, today, Tuesday, April 11, the price of electricity will increase from 52.54 euros on Monday to 91.4 euros on average per megawatt hour, according to the data communicated every day by the Iberian Energy Market Operator ( OMIE).
Given that we continue in a context of high prices, energy saving experts advise families to ensure that appliances that are not used remain unused, take short showers and, among other saving measures, pay attention to when to start up the five household appliances that consume the most electricity: the dryer, the dishwasher, the refrigerator, the washing machine and the television.
Three times less than last year
The average price of electricity so far in April is around 68 euros/MWh, around half the 119 euros/MWh of the same period of the previous month. In addition, the light will be three times lower this Monday than the 191 euros/MWh that it registered in the same month last year.
Natural gas and electricity prices have fallen in recent months due to factors such as the lockdowns in China and the savings policies implemented in Europe. However, experts consider that it is very likely that by the end of the summer the situation will become more tense and the price of natural gas (and therefore electricity) will skyrocket again. Thus, the president of Naturgy, Francisco Reynes, pointed out this Tuesday that “the problem will come when we have to refill the European gas stores because last year we also did it with Russian gas and this year we have removed it from the middle” .
In Reynes’ opinion, “the gas that Russia has stopped sending cannot be compensated either with less demand, or with a greater supply of Liquefied Natural Gas, or with the substitution of gas for renewables that cannot replace the combined cycle at the rate that is needed” .
Price of light today Tuesday April 11
Cheapest hour:
From 5:00 p.m. to 6:00 p.m., with 35 euros/MWh.most expensive hour
From 08:00-09:00, with 142.13 euros/MWh.
By time slots, the lowest price will be recorded today between 5:00 p.m. and 6:00 p.m., with 35 euros/MWh, while the maximum price will be between 8:00 a.m. and 9:00 a.m., with 142.13 euros/MWh.
Advantages of the Iberian exception
The ‘Iberian mechanism’, which entered into force on June 15 and will run until December 31, limits the price of gas for electricity generation to an average of 48.8 euros per MWh. 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. Subsequently, after the agreement between Spain and Portugal with the European Commission, it was approved that the monthly increase should be smoother. In this way, it increases by 1.1 euros/MWh from April, to end the year at 65 euros.
Practical 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 4 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.