2023-11-16 09:20:22
Thursday, November 16, 2023, 08:20
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The price of electricity is rising again. Today, Thursday, November 16, the cost of electricity in the wholesale market (‘pool’) increases, hence the consumer receiving a regulated rate must know the retail price of electricity in each of the hourly sections of the day, so that you can start 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 today, on the rise
The price of electricity today rises to 101.85 euros per megawatt hour (MWh), according to the Iberian Energy Market Operator (OMIE), which means that the cost increases by 7.5% compared to the previous day (94.72 euros / MWh.). It so happens that the price of electricity in November registers an average cost of 46 euros per megawatt hour, compared to 115 euros in the same month of 2022.
Price of electricity in the wholesale market
Thursday, November 16: 101.85 euros / MWh.
Wednesday, November 15: 94.72 euros / MWh.
Tuesday, November 14: 67.27 euros / MWh.
Monday, November 13: 52.14 euros / MWh.
Sunday, November 12: 20.99 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 0.174 euros / kWh, compared to 0.163 euros per kilowatt hour the previous day.
Price of electricity for the consumer
Thursday, November 16: 0.174 euros / kWh.
Wednesday, November 15: 0.163 euros / kWh.
Tuesday, November 14: 0.133 euros / kWh.
Monday, November 13: 0.118 euros / kWh.
Sunday, November 12: 0.053 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, Thursday, November 16, the most pocket-friendly electricity rate will be in the early morning and early afternoon.
The price of electricity today, November 16
Cheapest time: 03:00 – 04:00 (0.125 euros / kWh.)
Most expensive time: 19:00 – 20:00 (0.234 euros / kWh.)
Specifically, the hour with the cheapest electricity price will take place between 03:00 and 04:00, with a cost of 0.125 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, November 16
14:00 – 15:00: 0,151 euros / kWh.
15:00 – 16:00: 0,148 euros / kWh.
23:00 – 00:00: 0,163 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 7:00 p.m. to 8:00 p.m., when the price of the kWh. will rise to 0.234 euros. However, today, November 16, 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, November 16
11:00 – 12:00: 0,222 euros / kWh.
12:00 – 13:00: 0,220 euros / kWh.
20:00 – 21:00: 0,23 euros / kWh.
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