The price of electricity is reduced this Tuesday and, after hovering around 200 euros on Monday, it drops more than 7% for the second day of the week and is still waiting for the measures proposed by the Government to limit the price of gas come into force and alleviate the bill of millions of Spaniards.
According to data from OMIE, the regulator in Spain and Portugal, for this Tuesday, May 24, the average price of electricity will be 180.01 euros/MWh, a price almost three times lower than a year ago, when the cost was around 67 euros/MWh.
This price, however, will only be applied to households that have contracted a regulated rate (PVPC), almost 11 million in Spain. 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 in the afternoon. Specifically, between 4:00 p.m. and 5:00 p.m., when electricity will be worth 159.22 euros/MWh.
At what time is electricity more expensive?
The most expensive time to turn on the light will be at dinner time, between 9:00 p.m. and 10:00 p.m., when the light will cost 220.30 euros/MWh.
How much does electricity cost every hour?
– From 00 to 01 hours: 173 euros/MWh.
– From 01 to 02 hours: 165.76 euros/MWh.
– From 02 to 03 hours: 166 euros/MWh.
– From 03 to 04 hours: 168.27 euros/MWh.
– From 04 to 05 hours: 170.57 euros/MWh.
– From 05 to 06 hours: 182 euros/MWh.
– From 06 to 07 hours: 201.4 euros/MWh.
– From 07 to 08 hours: 210.29 euros/MWh.
– From 8 a.m. to 9 a.m.: 212 euros/MWh.
– From 9 a.m. to 10 a.m.: 193 euros/MWh.
– From 10 a.m. to 11 a.m.: 180.18 euros/MWh.
– From 11 a.m. to 12 p.m.: 169.47 euros/MWh.
– From 12 to 13 hours: 180.18 euros/MWh.
– From 13 to 14 hours: 169.47 euros/MWh.
– From 2:00 p.m. to 3:00 p.m.: 162.04 euros/MWh.
– From 15 to 16 hours: 160.94 euros/MWh.
– From 4:00 p.m. to 5:00 p.m.: 159.22 euros/MWh.
– From 5:00 p.m. to 6:00 p.m.: 160.01 euros/MWh.
– From 6:00 p.m. to 7:00 p.m.: 160.01 euros/MWh.
– From 7:00 p.m. to 8:00 p.m.: 162.54 euros/MWh.
– From 8:00 p.m. to 9:00 p.m.: 194.30 euros/MWh.
– From 9:00 p.m. to 10:00 p.m.: 220.30 euros/MWh.
– From 10 p.m. to 11 p.m.: 211.91 euros/MWh.
– From 23 to 24 hours: 187.40 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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