Electricity price today and tomorrow by hour: February 21.
The average price for electricity on Wednesday, February 21, is lower than on Tuesday and amounts to 45.30 euros per megawatt-hour. In addition, the period of the cheapest hours is changing, and for the first time in some time, the time to prepare dinner is not the most expensive. And more good news: there is no prohibitive peak, since the most expensive hour rises to 76.7 euros/MWh, which is a far cry from the 181 euros it cost the day before at the worst time of the day.
And this comes in a year that has brought significant financial changes to the electricity sector, such as the change to VAT introduced by the government in 2024, which is now 10% instead of the previous 5%. For this reason, many users choose to browse time slots with lower rates to save a few cents at the end of the month.
By time intervals
By time intervals, Maximum price76.7 euros per MWh will occur from 8 to 9 am, and minimum price According to the Iberian Energy Market Operator (OMIE), it will be registered in two sections, from 14:00 to 16:00, then the cost will be 28.6 euros/MWh (same as the previous day).
Electricity cost per hour
| Time section | Euro/MWh |
| 00.00-01.00 | 52.84 euros |
| 01.00-02.00 | 49.5 euros |
| 02.00-03.00 | 46.99 euros |
| 03.00-04.00 | 44.95 euros |
| 04.00-05.00 | 45.68 euros |
| 05.00-06.00 | 50.35 euros |
| 06.00-07.00 | 50.98 euros |
| 07.00-08.00 | 69.6 euros |
| 08.00-09.00 | 76.7 euros |
| 09.00-10.00 | 48.77 euros |
| 10.00-11.00 | 35 euros |
| 11.00-12.00 | 32.72 euros |
| 12.00-13.00 | 33.2 euros |
| 13.00-14.00 | 30 euros |
| 14.00-15.00 | 28.6 euros |
| 15.00-16.00 | 28.6 euros |
| 16.00-17.00 | 32 euros |
| 17.00-18.00 | 36 euros |
| 18.00-19.00 | 47.67 euros |
| 19.00-20.00 | 63.47 euros |
| 20.00-21.00 | 54.76 euros |
| 21.00-22.00 | 47.91 euro |
| 22.00-23.00 | 43.76 euros |
| 23.00-24.00 | 37.14 euros |
New calculation formula
It is worth remembering that 2024 is full of new developments in the field of electricity tariffs. On January 1, a new formula for calculating the regulated electricity tariff, the so-called “Voluntary Price for Small Consumers” (PVPC), came into force, which covers about 8.5 million consumers, that is, about a third of all domestic consumers.
Unlike the calculation methodology used so far, introduced by the Electrical Sector Law No. 24/2013 and regulated by Royal Decree No. 216/2014, where the final price was fully indexed to the daily wholesale market, the new formula will partially include long-term forward price signals. To this end, since July 1 last year, reference marketers have been pre-purchasing part of the energy that the PVPC tariff will consume in 2024.
Tips to save on your energy bills
To reduce your consumption and lower your energy bills, you can follow these tips:
Appliances
To reduce the consumption of household appliances, it is advisable to:
– Turn off electrical appliances when you are away from home for a long period (vacation). Especially the fridge freezer which consumes up to 30% of the total consumption of the house.
– Don’t leave them on standby as they continue to spend even when they are not consuming.
– Try to use a sundial to dry your clothes.
Hot water
It is always recommended:
– Use hot water wisely. It is advisable to ensure that the tap is never left open more than necessary.
– Overall water temperature between 30°C and 35°C It may be enough.
Lightning
It is advisable:
– Gradually replace incandescent and halogen lamps with LED lamps, as they consume ten times less energy than incandescent lamps and have a service life ten times longer, saving up to 85% of energy.
– Make the most of natural light by turning off lights in naturally lit areas and anywhere there are open spaces or glass walls that encourage passive viewing.