Monday, October 2, 2023, 08:37 | Updated 08:42h.
The price of electricity goes up. Today, Monday, October 2, the cost of electricity in the wholesale market (pool) grows and is above the barrier of 100 euros / MWh. For this reason, the consumer covered by a regulated tariff must know the retail price of electricity in each of the time sections of the day, so that he or she can turn on the appliances in the home at the cheapest hours. With this, you will be able to reduce electricity consumption with the washing machine, oven or dishwasher, and you will save on your electricity bill at the end of the month.
The price of electricity goes up today
The price of electricity today increases to 114.86 euros per megawatt hour (MWh), according to the Iberian Energy Market Operator (OMIE), which represents an increase of 19.64% compared to the previous day. (96 euros / MWh.). It so happens that the cost of electricity in September registered an average cost of 103.3 euros per megawatt hour, compared to 141.07 euros in the same month of 2022.
Price of electricity in the wholesale market
Monday, October 2: 114.86 euros / MWh.
Sunday, October 1: 96 euros / MWh.
Saturday, September 30: 104.89 euros / MWh.
Friday, September 29: 118.96 euros / MWh.
Thursday, September 28: 113.86 euros / MWh.
The cost of electricity in the wholesale market is transferred daily to the consumer’s bill. In it, the costs of adjustment services, marketing, financing, tolls and charges such as interruptibility or auction deficits, among others, are also applied. Thus, according to data from Red Eléctrica, the average price of electricity today is 0.1859 euros / kWh, compared to 0.1339 euros per kilowatt hour the previous day.
Price of electricity for the consumer
Monday, October 2: 0.1859 euros / kWh.
Sunday, October 1: 0.1339 euros / kWh.
Saturday, September 30: 0.1421 euros / kWh.
Friday, September 29: 0.1879 euros / kWh.
Thursday, September 28: 0.1814 euros / kWh.
Today’s price of electricity and cheap hours
The consumer will enjoy a cheaper electricity bill at the end of the month if they take advantage of the cheapest hours of the day. For this reason, today, Monday, October 2, the most pocket-friendly electricity rate will be in the early morning and early afternoon.
The price of electricity today, October 2
Cheapest time: 04:00 – 05:00 (0.1859 euros / kWh.)
Most expensive time: 20:00 – 21:00 (0.2726 euros / kWh.)
Specifically, the hour with the cheapest electricity price will take place between 04:00 and 05:00, with a cost of 0.1859 euros / kWh. It will be the most recommended time of day for consumers to connect their appliances so they can save on their electricity bill at the end of the month. If you cannot benefit from the cheapest time of day, these are other good times to lower your electricity bill during normal hours:
Cheap hours in the price of electricity today, October 2
03:00 – 04:00: 0,141 euros / kWh.)
05:00 – 06:00: 0,142 euros / kWh.)
14:00 – 15:00: 0,148 euros / kWh.)
15:00 – 16:00: 0,152 euros / kWh.)
On the other hand, the hours when it is least advisable to run the washing machine, oven or dryer will be in the evening. And, above all, from 8:00 p.m. to 9:00 p.m., when the price of the kWh. will rise to 0.2726 euros. However, today, October 2, there are also other peak hours during which consumers should avoid turning on their appliances if they want to lower their electricity bill:
Expensive hours in the price of electricity today, October 2
19:00 – 20:00: 0,256 euros / kWh.)
21:00 – 22:00: 0,252 euros / kWh.)
18:00 – 19:00: 0,239 euros / kWh.)
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