Slight drop in the price of electricity this Friday.
The price of electricity for regulated rate customers fell slightly this Friday, to 276.39 euros/MWh. Check the best times to turn on appliances this July 29
The price of electricity offers this Friday a slight respite to consumers, as the regulated rate of customers linked to the wholesale market fell by 5.5%. Thus, this Friday, July 29, the cost of electricity is reduced to 276.39 euros per megawatt hour (MWh), according to provisional data from the Iberian Energy Market Operator (OMIE). Despite this slight drop, which comes after an accumulated rise of 21% in the two preceding days alone, consumers seek to optimize spending on their appliances and find the best times to start up the appliances that consume the most energy, such as are the air conditioning, fans, oven or washing machine.
This price of electricity comes as a result of adding the average price of the auction in the wholesale market to the compensation that the demand will pay to the combined cycle plants for the application of the ‘Iberian exception’ to cap the price of gas for the electricity generation. In the auction, the average price of electricity in the wholesale market (known as the ‘pool’) stands at 141.51 euros/MWh this Friday.
Regarding the breakdown of the price of electricity per hour, the maximum peak will be for the second consecutive day in the first hour of the day, from 00:00 to 1:00 a.m., (161 euros/MWh) while the minimum It will be given between 7:00 p.m. and 8:00 p.m., with 119 euros/MWh.
Electricity rate today Friday, hour by hour
Cheapest time:
from 19 to 20 hours, with 119 euros/MWh.Most expensive time:
from 00 to 01 hours, with 161 euros/MWh
To this price of the ‘pool’ is added the compensation of 134.88 euros/MWh to the gas companies that has to be paid by the consumers who benefit from the measure, the consumers of the regulated tariff (PVPC) or those who, despite being in the free market, they have an indexed rate. In the absence of the mechanism known as the ‘Iberian exception’ to limit the price of gas for the generation of electricity, the price of electricity in Spain would be on average around 328.14 euros/MWh, which in today’s case represents around 52 euros/MWh more than with the compensation for clients of the regulated rate, who will thus pay around 16% less on average.
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.
Therefore, one more day the price of electricity will vary significantly hour by hour throughout the day, depending on the tolls and charges established in each of the time slots of the electricity rate. 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.