Electricity price today Monday | Electricity prices will soar this Monday with a new tariff: the cheapest hours to turn on household appliances

The price of electricity continues to rise without a break and is rising again this Monday after the already noticeable increase in the cost of electricity on Sunday, which continues to be a major concern in many homes, especially now that the cold weather is approaching. After a slight lull on Saturday, the cost of electricity rose again on Sunday, reaching 114.02 euros/MWh, and this Monday, November 18, it rose even more, to 136.37 euros, according to the Operator of the Iberian Energy Market (OMIE). ). This represents an increase of 16.38% compared to the previous day’s data.

It should be taken into account that the “pool” does not accurately reflect the final amount of the electricity price for a consumer subject to a regulated tariff, since with the introduction in 2024 a new method of calculating PVPC was adopted, which includes a basket of medium and long-term prices to avoid strong fluctuations without losing short-term price targets that promote savings and efficient consumption.

Electricity cost per hour

To avoid being disappointed with a bill at the end of the month, consumers are advised to pay attention to time slots as they change daily and indicate the most economical times to plug in appliances. This way you can plan your consumption and save a few euros on your bill.

The cost of electricity will remain fixed cheaper watches this Monday at noon, from 12:00 to 13:00, then it will cost 117.27 euros/MWh, and most expensive watches They will take place in the afternoon from 18:00 to 19:00, then their cost will be 168.20 euros/MWh.

VAT changes

The last Council of Ministers last year approved an increase in the VAT rate on electricity from 5% to 10% and maintaining this rate until the end of 2024, subject to maintaining MWh prices on the wholesale market. high, above 45 euro/MWh.

In particular, VAT will become 21% if the wholesale price is below this level in the calendar month preceding the last day of invoice. That is, all bills that include consumption for at least one day in March will have VAT of 21%. Only households receiving a social bonus are exempt from this increase, as their VAT will remain at 10% throughout 2024.

Calculation method

It should be remembered that the “pool” does not quite represent the final amount of the electricity price for the consumer subject to the regulated tariff, since with the advent of 2024, a new method of calculating PVPC has been adopted, which includes a basket of medium and long-term prices to avoid large fluctuations, without losing short-term price targets that promote savings and efficient consumption.

Thus, the share of the pool price link will be gradually reduced to include links to futures markets, so that they will be 25% in 2024, 40% in 2025 and 55% starting in 2026.

Pool

It should be remembered that the “pool” does not quite represent the final amount in the price of electricity for the consumer subject to a regulated tariff, since with the introduction in 2024 of a new method of calculating PVPC, which includes a basket of medium and long-term prices to avoid large fluctuations, without losing short-term price targets that promote savings and efficient consumption.

Thus, the share of the pool price link will be gradually reduced to include links to futures markets, so that they will be 25% in 2024, 40% in 2025 and 55% starting in 2026.

To reduce your consumption and lower your energy bills, you can follow these tips:

Household 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 home.

– 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 may be enough.

Lightning

Recommended:

– 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.