The price of electricity in the wholesale market continues to skyrocket despite attempts to stop the escalation in prices. The Government battles in the European Union to put limits on gas prices, the raw material that causes the high price of electricity. Natural gas is used in combined cycle plants, those that produce a small amount of the electricity that Spaniards consume every day, but that have very high operating costs that end up being passed on to consumers.
Meanwhile, life goes on and the price of electricity remains at extremely high levels compared to those of the same date in 2021. According to data from OMIE, the regulator in Spain and Portugal, for this Wednesday, April 13, the price of electricity will be 229.44 euros/MWh, 220% more than a year ago, when the price was 71.02 euros/MWh.
This price, however, will only be applied to households that have contracted a regulated rate (PVPC). As long as they have their bill in the , they will only notice the increase when their contract is updated annually.
At what time is electricity cheaper?
The cheapest hour of electricity will be early in the morning. Specifically, between 4:00 and 5:00 a.m., with prices of 190.90 euros/MWh.
At what time is electricity more expensive?
The most expensive time to turn on the light will be early in the day, between 08:00 and 09:00, when it will cost 260 euros/MWh.
How much does electricity cost every hour?
– From 00 to 01 hours: 242.75 euros/MWh
– From 01 to 02 hours: 229.77 euros/MWh
– From 02 to 03 hours: 220 euros/MWh
– From 03 to 04 hours: 201.85 euros/MWh
– From 04 to 05 hours: 190.9 euros/MWh
– From 05 to 06 hours: 212.32 euros/MWh
– From 06 to 07 hours: 248.74 euros/MWh
– From 07 to 08 hours: 257.02 euros/MWh
– From 08 to 09 hours: 260 euros/MWh
– From 9 a.m. to 10 a.m.: 254.25 euros/MWh
– From 10 to 11 hours: 242.75 euros/MWh
– From 11 to 12 hours: 234.99 euros/MWh
– From 12 to 13 hours: 227.67 euros/MWh
– From 13 to 14 hours: 208 euros/MWh
– From 2:00 p.m. to 3:00 p.m.: 201.18 euros/MWh
– From 15 to 16 hours: 196 euros/MWh
– From 4:00 p.m. to 5:00 p.m.: 200.47 euros/MWh
– From 5:00 p.m. to 6:00 p.m.: 221.2 euros/MWh
– From 6:00 p.m. to 7:00 p.m.: 219.28 euros/MWh
– From 7:00 p.m. to 8:00 p.m.: 242.36 euros/MWh
– From 8:00 p.m. to 9:00 p.m.: 254 euros/MWh
– From 9:00 p.m. to 10:00 p.m.: 259 euros/MWh
– From 10 p.m. to 11 p.m.: 250 euros/MWh
– From 23 to 24 hours: 231.94 euros/MWh
Why does the price of electricity vary so much?
The main cause of the price fluctuations is that the price of gas is experiencing strong increases and its use is essential for the production of energy in the so-called combined cycle plants. Thus, any impact on the price of gas has an almost immediate impact on the price of electricity.
The current context does not help, precisely, to contain the price of gas. Russia is one of the largest suppliers of gas on the planet and the influence of the war in Ukraine has been felt in half the world, including Spain.
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