The price of electricity today rises again.
The price of electricity rose 4.4% to reach 270.17 euros / MWh. in the wholesale market. Check the price of electricity hour by hour
The price of electricity today rises again. This Tuesday, June 21, 2022, the average cost of electricity increases by 4.4% in the wholesale market, something that will be reflected in the electricity bill at the end of the month. Knowing what time to start the washing machine, use the dishwasher or turn on the oven helps the consumer to pay as little as possible, although today will be a more demanding day for the pocket after the price of electricity in the market wholesale amounts to 270.17 euros per MWh. on average, according to data from the Iberian Energy Market Operator (OMIE).
This amount includes the compensation given to gas companies, after they are forced to cap the cost of gas at a maximum price of 40 euros/MWh. during the first six months of the application of the ‘Iberian exception’. This compensation will be 122.14 euros today (compared to 109.36 today), which will cause the price per MWh to increase from 148.03 euros/MWh. of the pool up to 270.17 euros. For this reason, the user covered by the PVPC rate will not see this reduction reflected in the final price of their electricity bill.
In a context of continuous price rises for all kinds of products, consumers are forced to plan in detail when to carry out household tasks that depend on their appliances. Thus, checking hourly rates is a great help for households, since energy savings improve our economy.
With the rise in the electricity tariff today, the cost of electricity maintains the trend of recent days above 200 euros per MWh, a record that, although it continues to be high, has nothing to do with those of the past March, when levels of up to 544 euros per megawatt hour were reached.
Price of electricity today per hour (in MWh.)
The electricity rate on the wholesale market directly influences the final cost that the consumer has to pay to start up their electrical appliances. Hence, for all those users benefiting from the Voluntary Price for Small Consumers (PVPC), the average cost set by OMIE today is 270.17 euros / MWh., Once the compensation has been applied to the gas companies and waiting to add to the ‘ pool’ the tolls and corresponding charges.
Thus, today the price of the electricity tariff will be cheaper in the middle of the afternoon, specifically between 5:00 p.m. and 6:00 p.m. In this range, the average cost of electricity will be 126.36 euros / mWh, which will make it the best time to start up the appliances that consume the most in our home. Less affordable for the pocket will be to do it at dinner time, between 10:00 p.m. and 12:00 a.m., when the electricity rate skyrockets to 180.03 euros / MWh.
Electricity rate today June 15, 2022
cheapest hour
between 5:00 p.m. and 6:00 p.m., with 126.36 euros / MWh.most expensive hour
between 10:00 p.m. and 12:00 a.m., with 180.03 euros / MWh.
With these records in mind, today it will be key to know what time of day the electricity price is cheapest, since between the off-peak time (cheapest hours) and the peak time (the most expensive) there will be a difference of 53.67 euros / MWh.
The price of electricity today hour by hour:
Time | electricity rate | Time | electricity rate |
|---|---|
00h – 01h: 170,28 euros / MWh | 12h – 13h: 140,44 euros / MWh |
01h – 02h: 150,73 euros / MWh | 13h – 14h: 135,73 euros / MWh |
02h – 03h: 148 euros / MWh | 14h – 15h: 130,25 euros / MWh |
03h – 04h: 145,92 euros / MWh | 15h – 16h: 127,05 euros / MWh |
04h – 05h: 148,8 euros / MWh | 16h – 17h: 126,36 euros / MWh |
05h – 06h: 150,66 euros / MWh | 17h – 18h: 127,05 euros / MWh |
06h – 07h: 149,84 euros / MWh | 18h – 19h: 127,05 euros / MWh |
07h – 08h: 175,56 euros / MWh | 19h – 20h: 130,75 euros / MWh |
08h – 09h: 175,56 euros / MWh | 20h – 21h: 146,13 euros / MWh |
09h – 10h: 153,7 euros / MWh | 21h – 22h: 180,03 euros / MWh |
10h – 11h: 145 euros / MWh | 22h – 23h: 180,03 euros / MWh |
11h – 12h: 141,22 euros / MWh | 23h – 24h: 146,53 euros / MWh |
Electricity price today Tuesday June 21 for hours
Appliances that consume the most
In all homes we have appliances with high electrical consumption. According to a study by the OCU, the household appliances that require the most energy are, in this order: refrigerator (662 kWh per year on average), freezer (563 kWh), television (263 kWh), washing machine (255 kWh), dryer (255 kWh) and dishwasher (246 kWh). As for the first two, essential for families, it is clear that there is not much room for savings since it is not possible to disconnect them.
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 prevent the door from being left open for too long. When choosing its location it is very important that the refrigerator is located away from the oven, a radiator or a sunny window or balcony.
Other tips that serve to save on electricity bills are not leaving mobile chargers or headphones connected for longer than necessary, turning off devices that are not being used, not leaving the TV on if you are not watching, etc.
The electricity ‘pool’, at 148.03 euros / MWh.
Today, Tuesday, June 21, the average price of the electricity pool – the wholesale market in which energy is bought and sold on a daily basis – will be 9.45 euros lower than the 157.48 euros / MWh. registered today, Monday, as announced by the Iberian Energy Market Operator (OMIE).
Of course, the compensation to gas companies as a result of the Iberian exception increases from 109.36 euros to 122.14, an extra that consumers of the regulated rate and those who, despite being in the free market, will have to pay , have an indexed electricity rate.
In the event that the gas cap had not been applied to electricity generation, the price of electricity today, Tuesday, would have been 5.6% higher, reaching 286 euros / MWh, something that would have affected the pocket of the consumer. In other words, the consumer would have had to pay 16 euros more in their electricity rate.
The prices of the ‘pool’ have a direct impact on the regulated rate -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 . In fact, the National Commission of Markets and Competition (CNMC) has verified that in 2021, in the framework of the upward spiral of energy, around 1.25 million people switched from the PVPC to a rate in the free market at a fixed price.
Evolution of the electricity tariff (in euros / MWh.)
Price June 21, Tuesday:
270,17 euros / MWh.Price June 20, Monday:
258,68 euros / MWh.Price June 19, Sunday:
177,64 euros/MWhPrice June 18, Saturday:
212,02 euros / MWh.Price June 17, Friday:
266,38 euros / MWh.Price June 16, Thursday:
259 euros / MWh.