2023-04-17 23:59:29
Monday, April 17, 2023, 7:07 p.m.
The ups and downs in the price of electricity continue, forcing consumers to look closely at the cheapest hours to start up their electrical appliances. Thus, today, Tuesday, April 18, a strong increase of 44% is registered, which raises prices to 96.19 euros/MWh, the second highest price so far this month after the 104 marked on the 5th, according to the data provided by the Iberian Energy Market Operator (OMIE). The average price of electricity so far in April is slightly above 61 euros/MWh, more than three times lower than the 191 euros/MWh that registered in the same month last year.
In these first 18 days of April, the average cost of electricity stands at just over 61 euros/MWh, a high price but still lower than that of a year ago, since it is three times lower than the 191 euros/MWh paid households and businesses in the same month of 2022.
In this context, energy saving experts advise families to ensure that unused appliances remain unplugged, take short showers and, among other saving measures, pay attention to when to start the five appliances that consume the most electricity: the dryer, the dishwasher, the refrigerator, the washing machine and the television.
Price of light per hour
Given this new rise, consumers will be attentive to electricity costs in the different time slots of this Tuesday. The price of electricity on the wholesale market directly influences the final cost that consumers have to pay to start up their household appliances hour by hour.
The cheapest hours today, Tuesday, to start up the devices with the highest energy consumption are from 3:00 p.m. to 5:00 p.m., with 74.74 euros/MWh, while the most expensive is from 9:00 p.m. to 10:00 p.m., with 141.4 euros/MWh as well as the nearby hours.
Advantages of the Iberian exception
The ‘Iberian mechanism’, which entered into force on June 15 and will run until December 31, limits the price of gas for electricity generation to an average of 48.8 euros per MWh. This mechanism was approved after the price of light reached a maximum of 700 euros per megawatt hour in March of this year.
The so-called ‘Iberian exception’ sets a path for natural gas for electricity generation from a price of 40 euros/MWh in the initial six months. Subsequently, after the agreement between Spain and Portugal with the European Commission, it was approved that the monthly increase should be smoother. In this way, it increases by 1.1 euros/MWh from April, to end the year at 65 euros.
#price #electricity #reaches #highest #level #April #today #discover #cheapest #hours