VIDEO: The cheapest cities to do the shopping
The price of electricity today for regulated rate customers decreased by 2.228%, to stand at 132.31 euros/MWh. Check the price of electricity in detail for this Thursday, September 29
New drop in the price of electricity, which continues to give consumers small respite. Thus, today, Thursday, September 29, the cost of electricity registered a slight decrease of 2.28%, something that will always be welcome for the pockets of families and companies. today therefore the cost of electricity stands at 132.31 euros/MWh, a record that maintains the evolution of recent days, but still far from the 90.34 euros/MWh of Sunday in which it was the highest figure drop in the cost of electricity since last April.
Knowing what time to start the washing machine today, use the dishwasher or turn on the air conditioning helps families pay as little as possible, although this Thursday will be a less demanding day for the pocket. And it is that the price of electricity today in the wholesale market (‘pool’) stands at 108.8 euros per MWh on average, as published by the Iberian Energy Market Operator (OMIE) before applying the compensation to gas companies.
Compensation at the price of electricity today Thursday
If the mechanism of the ‘Iberian exception’ did not exist to limit the price of gas for the generation of electricity, the price of electricity in Spain would be on average around 212 euros/MWh, which is 80 euros/MWh more than with the compensation for regulated rate customers, who will thus pay 37.6% less on average.
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.
In this context of high electricity and gas prices, France has been more flexible this Wednesday when it comes to discussing with Spain the long-term construction of the MidCat gas pipeline, three weeks after President Macron buried the project. Although he still thinks that this “is not a short-term solution” to solve the problem of the energy crisis that Europe is currently experiencing as a result of the war in Ukraine, the president no longer closes the idea of building in the future this gas pipeline between the two countries.
Recent pressure from Spain, Portugal and Germany in favor of MidCat could have contributed to Macron reconsidering his position. Paris is studying “from a technical point of view the relevance of this interconnection” in the long term and is already analyzing how long it would take to build this infrastructure and whether France should finally support the project or not. From the Elysee they insist that there are still “questions” about the MidCat project in the short term, since “it would not solve the supply problem between Spain and France in the coming weeks.”
Thus, the price of gas increased again yesterday due to the leaks detected in the Nord Stream and, above all, due to the alleged sabotage that would have caused this damage to the gas pipeline between Russia and Germany. The price advanced another 10% and placed the cost of the raw material at 210 euros/Mwh. This increase came after a 19% rally on Tuesday, which left the price above 200 euros again after eight days below that number. Thus, it undoes the trend continues downward from the historical highs reached on August 26.
Changes in the electricity bill
On the other hand, it has just been a year since the Government launched the first decree to cushion the effects of the rise in electricity in Spain. 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 all 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.
Electricity price today Thursday for hours
The wholesale market electricity rate directly influences the final cost that the consumer has to pay to start up their appliances hour by hour, hence the price of electricity today is set at 0.203 euros / kWh. once the corresponding charges and tolls have been added.
Electricity rate today, Thursday, September 29, 2022, hour by hour
cheapest hour
from 3:00 p.m. to 4:00 p.m., with 0.147 euros/kWhmost expensive hour
from 9:00 p.m. to 10:00 p.m., with 0.345 euros/kWh
In this way, the cheapest hours to start up the electrical appliances and appliances with the highest consumption is 0.147 euros/kWh, between three and four in the afternoon. On the contrary, the most expensive hour will be from nine to ten at night, with 0.345 euros/kWh. A considerable difference that makes the consumer have to look closely when he can consume less electricity.
With these records in mind, this Thursday 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.