The price of electricity today Sunday rises again after the sharp drop of the previous day. This time it is 9.68% that allows this price to be kept below 200 euros per MWh. Thus, this Sunday, September 18, it stands at 194.64 euros / MWh., one of the lowest quotas of the summer and that positively benefits the electricity bill of consumers.
Knowing what time to start the washing machine, use the dishwasher or turn on the air conditioning helps the consumer to pay as little as possible, although this Friday will be a demanding day for the pocket. And it is that the price of electricity today in the wholesale market (‘pool’) stands at 131.61 euros per MWh. on average, as confirmed by the Iberian Energy Market Operator (OMIE).
Compensation at the price of electricity today Sunday
And all this before applying the compensation of the gas ceiling to the electricity companies, which today Friday supposes an extra in the price of electricity of 106.36 euros. This compensation will mean that the user covered by the PVPC rate will not benefit as much from the gas cap and, therefore, will see that their electricity bill at the end of the month is not cut as much.
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 hourly rates is a great help for households, since hourly energy savings improve our economy.
Due to these constant increases in electricity prices, Spain supports the mandatory cut in electricity consumption, mainly during peak hours, one of the measures that are on the table of the European Commission. This was stated by the Third Vice President of the Government and Minister for the Ecological Transition and the Demographic Challenge, Teresa Ribera, although she made it conditional on each Member State having a margin of adjustment.
Changes in the electricity bill
Just these days, a year has passed since the Government of Pedro Sánchez launched the first major decree to cushion the effects of the rise in electricity in Spain. That package contained tax and regulatory measures aimed at reducing part of the concepts that taxed the receipt to make it more affordable.
A year later, the electricity bill has completely changed. In fact, if you compare a receipt from this summer with one from the previous one, you can see how the weights of each of the realities included in any receipt have changed. Thus, the cost of the electricity consumed by the home in each invoiced period (euros per kWh consumed) used to account for a quarter of everything that was paid to the electricity company each month. Now, it accounts for more than 75% of the bill we pay to energy companies.
This is the concept that has risen the most in the last twelve months. To give an example, in the case of the regulated tariff, in September of last year consumers covered by this modality paid an average of 0.21 euros/kwh, a cost that is already high compared to the average of recent years. . Now, that price is above 0.36 euros/kwh. That is, 70% more expensive than a year ago.
The more than ten million households that have the regulated electricity rate (PVPC) have already become accustomed to receiving the bill from their electricity company in which the Iberian limit authorized by Brussels appears in June, and which was launched in middle of that month. After the first quarter, coinciding with the billing period of each company, all PVPC receipts include a new concept: ‘Cap cost of gas according to RDL10/2022’. This amount implied an increase in the price of electricity, with an average of 0.13 euros/kwh in its first month of operation. In exchange, the term ‘energy price’ of the regulated tariff practically fell to around 0.12 or 0.13 euros/kwh for this same period.
Electricity price today Sunday for hours
The wholesale market electricity rate directly influences the final cost that the consumer has to pay to start up their appliances from hour to hour.
– 00-01 hours: 145.07 euros/MWh.
-01-02 hours: 141.52 euros/MWh.
-02-03 hours: 140 euros/MWh.
-03-04 hours: 124.45 euros/MWh.
-04-05 hours: 138.53 euros/MWh.
-05-06 hours: 141.52 euros/MWh.
-06-07 hours: 146.5 euros/MWh.
-07-08 hours: 157.46 euros/MWh.
-08-09 hours: 150.61 euros/MWh.
-09-10 hours: 140 euros/MWh.
-10-11 am: 99.32 euros/MWh.
-11-12 hours: 87.2 euros/MWh.
-12-1pm: 85.7 euros/MWh.
-13-14 hours: 85.7 euros/MWh.
-14-15 hours: 84.92 euros/MWh.
-15-16 hours: 61.01 euros/MWh.
-16-17 hours: 84.58 euros/MWh.
-17-18 hours: 99.4 euros/MWh.
-6pm to 7pm: 145.07 euros/MWh.
-19-20 hours: 156.31 euros/MWh.
-20-21 hours: 182.6 euros/MWh.
-21-22 hours: 202.28 euros/MWh.
-22-23 hours: 182.89 euros/MWh.
-23-24 hours: 175.95 euros/MWh.
Electricity rate today, Sunday, September 18, 2022, hour by hour
-
cheapest time
from 3:00 p.m. to 4:00 p.m., with 61.01 euros/MWh -
most expensive hour
from 9:00 p.m. to 10:00 p.m., with 202.28 euros/MWh
Thus, the cheapest time for the price of electricity today, Sunday, was between three and four in the afternoon, with 61.01 euros/MWh, which is the ideal time for consumers to start up the washing machine, dishwasher or oven. On the other hand, the most expensive time to start up electrical appliances takes place once again between 9:00 p.m. and 10:00 p.m., with a cost of 202.28 euros/MWh.
With these records in mind, this Sunday it is key to know what time the electricity price is cheapest.
Iberian exception to contain the price of electricity
The Iberian mechanism, which entered into force on June 15, limits the price of gas for electricity generation to an average of 48.8 euros per MWh over a period of twelve months, thus covering the coming winter, a period in which energy prices are more expensive. Specifically, the ‘Iberian exception’ sets a path for natural gas for electricity generation at a price of 40 euros/MWh. in the initial six months, and subsequently, a monthly increase of five euros/MWh. until the end of the measurement.
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 .
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.
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.