The price of electricity will give a break during the afternoon of this Sunday. A few days after the ‘Iberian exception’ that will lower the cost of electricity comes into force, Spaniards will be able to take advantage of a specific time slot to, for example, put on a washing machine, turn on the air conditioning without much hesitation or, for the most daring in the middle of a heat wave, use the oven.
It will be between 4:00 p.m. and 5:00 p.m. this Sunday when the price will drop to 65.34 euros/MWh (megawatt/hour). It would be necessary to go back to May 15 to observe such a reduced record. That Sunday the drop was really considerable: it came to be for three hours in the evening at just over one euro per MWh. These sales usually take place during the weekends because that is when the least amount of energy is required as the industries and most of the work environment are in inactivity.
All in all, the rise in electricity is exorbitant: exactly one year ago, Spanish households paid an average of 77.60 euros for each megawatt/hour, 116% less
The average for this Sunday is one hundred euros above the ‘bargain hour’, specifically at 167.06 euros/MWh —12.30% less than yesterday—, being the most expensive slot from 10:00 p.m. to 11:00 p.m. with 225.88 euros/MWh, according to data published by the Iberian Energy Market Operator (OMIE). All in all, the price of electricity continues to be exorbitant: exactly one year ago, Spanish households paid an average of 77.60 euros per megawatt/hour, 116% less than today.
This situation is one of those responsible for the higher inflation experienced by the shopping basket in Galicia in the last 30 years: prices rose by 11.2% in May compared to 12 months ago.
This ephemeral 60-minute balm arrives just three days after the application of the so-called ‘Iberian exception’ through an Order of the Ministry for the Ecological Transition published in the BOE on Thursday. It will be next Tuesday, June 14, when the electricity market auction will be held to set the prices for the following day under the new mechanism, which will limit the price of natural gas to an average of 48.8 euros per megawatt/hour (MWh) and It will be valid until December 31, 2023 for Spain and Portugal. Citizens, both Spanish and Portuguese, they will begin to notice this reduction, therefore, on Wednesday. The measure “is justified by the scarce interconnection of the Iberian Peninsula with the rest of Europe”, as specified by Teresa Ribera’s cabinet.
The Government calculates that consumers who have contracted the regulated rate -PVPC- will receive a discount of 15.3% at most on their electricity bill
The government estimates that consumers who have contracted the regulated rate -PVPC- will receive a discount of 15.3% at most on their electricity bill. Around 11 million Spanish households are covered by this modality, which refers to the other 17 million that make up the free market.
In the case of the industrial user, the Executive foresees a reduction of between 18% and 20%ranging between 15% and 17% in the first month of the mechanism, and between 13% and 15% in the last, according to the impact report to which Europa Press has had access.
On the horizon, in addition, two other bills that will try to change the structure of the receipt. The Commission for the Ecological Transition of the Congress of Deputies has brought them back to the present day after being approved more than a year ago. Namely, on the one hand, the cut in the extraordinary income of electricity companies will be sought due to the rise in the prices of CO2 emission rights and, on the other, an attempt will be made to transfer part of the fixed costs of the electricity bill to gas and fuels.
Rise above 200 euros/MWh for tomorrow
This Monday, the bar for the price of electricity will be raised again above 200 euros/MWh, specifically it will jump to 200.62 on average, 34 euros more than today and 5 euros more per MWh compared to last Monday. The most expensive time will be between 9:00 p.m. and 10:00 p.m., with 238.40 euros/MWh; and the cheapest, at dawn: 160.5 euros/MWh between 3:00 and 4:00.
What consumes the most energy at home?
Faced with this situation and awaiting the arrival of an ‘Iberian’ reduction, The most responsible thing is to try to save as much as possible, a gesture that also benefits the fight against climate change. But what do you spend the most at home?
The appliances that spend the most in a home are: the refrigerator -in continuous operation-, the television (12.2%), the washing machine (11.8%), the ‘stand-by’ (10.7%), the oven (8.3%), computer (7.4%), freezer (6.1%), dishwasher (6.1%) and dryer (3.3%)
Appliances are what ‘eat’ the most energy, followed by lighting, cooking, hot water, heating and air conditioning, according to the most recent study by the Institute for Energy Diversification and Saving (IDAE). Among the electrical appliances themselves, the refrigerator -in continuous operation- is at the top with 30.6%. Behind, in the following order, the television (12.2%), the washing machine (11.8%), the ‘stand-by’ (10.7%), the oven (8.3%), the computer (7.4%), the freezer (6.1%), the dishwasher (6.1%) and the dryer (3.3%).