Electricity price by hour, May 31 | When is kWh cheaper and when is it more expensive?

Iberian exception, a measure that allowed Spain and Portugal to set a limit on the price of gas used to produce electricity, It has become invalid since the end of 2023.. This measure began to be applied after the war in Ukraine, which began in February 2022, intensified. the energy crisis in which our country finds itself.

He average electricity price for tariff-regulated consumers linked to the wholesale market closed in 2023 at €87.1 per megawatt-hour (MWh), what does it mean reduction by more than half (-58%) compared to 2022, when the energy crisis of the Ukrainian war raised the price to a historical 209 euros. Moreover, this data It would have been 23% higher if not for the Iberian mechanism.

For the whole of 2024 this VAT on electricity is expected to be 10%.although the government introduced exceptionthat is, if the average monthly price for electricity is below 45 euro/megawatt-hour (MWh), in next month for this to happen VAT of 21% will apply.returning to 10% if the price again exceeds this 45 EUR/MWh.

Here, VAT on the price of electricity increased from 10% to 21% in March, behind decline in February from the price of megawatt-hour (MWh) below 45 euros. This situation stayed in April And will continue in May.

When will electricity become cheaper on Friday, May 31?

According to the website of the Spanish Electricity Network, the cheapest section of electricity on Friday, May 31st, will be in 04:00 hours

. The price per kilowatt-hour will be €0.05656 in the Peninsula, Balearic Islands, Canary Islands, Ceuta and Melilla.

When will electricity be the most expensive on Friday, May 31?

On the other hand, electricity will be more expensive throughout the world. Peninsula, Balearic Islands, Canary Islands, Ceuta and Melilla. V 9:00 pm. on Friday, May 31, at a price per kilowatt-hour 0.13176 euro.

How is the electricity tariff calculated?

Electricity bill is calculated according to two prices: the price for the contracted power and the price per kilowatt consumed during the month..

Except, It also depends on the type of invoice issued., which distinguishes three types of sections depending on the schedule: peak hour (section in which the price of electricity is more expensive), fixed hour (with a lower cost than the most expensive section) and off-peak hour (section in which the price of electricity is lower) . This account model was implemented starting in June.

Regarding the choice of tariff, Users can choose two optionseither at the rate offered by your marketing company, or take advantage of the regulated market through the Small Consumer Voluntary Price (PVPC).